Donald Trump Launches Fourth NFT Series Featuring ‘Debate Suit’ Collectible

Donald Trump NFT

Journalist

Hassan Shittu

Journalist

Hassan Shittu

About Author

Hassan, a Cryptonews.com journalist with 6+ years of experience in Web3 journalism, brings deep knowledge across Crypto, Web3 Gaming, NFTs, and Play-to-Earn sectors. His work has appeared in...

Author Profile

Share

Copied

Last updated: 

August 26, 2024

Why Trust Cryptonews

Cryptonews has covered the cryptocurrency industry topics since 2017, aiming to provide informative insights to our readers. Our journalists and analysts have extensive experience in market analysis and blockchain technologies. We strive to maintain high editorial standards, focusing on factual accuracy and balanced reporting across all areas - from cryptocurrencies and blockchain projects to industry events, products, and technological developments. Our ongoing presence in the industry reflects our commitment to delivering relevant information in the evolving world of digital assets. Read more about Cryptonews

Former U.S. President Donald Trump is set to release a fourth NFT collection, following the mixed performance of his previous three collections. The new collection, titled “America First Edition,” was unveiled in an August 27 promotional video in which Trump highlighted the artwork, which includes depictions of himself dancing and holding Bitcoins.

Meanwhile, the industry has been supporting Republicans after the party updated its platform to include pro-crypto language.

Ripple donated $1 million to the Commonwealth Unity Fund on May 15 to support John Deaton, a pro-crypto candidate challenging Senator Elizabeth Warren in the upcoming Republican primary.

Trump’s Latest NFT Gamble: Can It Outshine His Previous Collections?

Trump’s latest NFTs, priced at $99 each, are minted on the Ethereum scaling network Polygon. Up to 360,000 cards could potentially be produced.

This would make it the largest Trump NFT set to date, surpassing previous collections, including 100,000 cards (only half sold) and two earlier collections that sold out with 44,000 and 46,000 NFTs.

Exclusive perks for bulk buyers include access to a September Trump gala dinner and a piece of the suit Trump wore during his June debate with President Joe Biden.

In a July Bloomberg Businessweek interview, Trump highlighted the success of his prior NFT ventures, which sold out rapidly and drew significant interest from the cryptocurrency community.

Despite previously criticizing cryptocurrency as a “fraud” and a “disaster waiting to happen,” Trump now acknowledges its global significance.

“I did things like NFTs… We had one year to sell it out, and it sold out in one day,” he said, noting that 80% of sales were in crypto.

He also warned that countries like China could dominate the industry if the U.S. doesn’t embrace cryptocurrency.

The latest Trump NFTs cannot be resold on secondary marketplaces until January 31, 2025. NFT INT LLC, which holds the license to use Trump’s imagery and branding, will manage the funds from the sale. It will not contribute to Trump’s presidential campaign.

Trump’s NFT Collections: Why the Recent Spike in Value Could Signal a Major Trend Shift

The announcement comes as Trump’s NFTs see a resurgence in value following a recent assassination attempt at a Pennsylvania rally.

According to data from Magic Eden, Trump’s first NFT collection has doubled in value. It is now priced at $452 on the secondary market, up from $225, but is below its all-time high of $769 from February 2023.

Trading activity on platforms like OpenSea has also surged. In the past week, 272 Trump NFTs were sold, generating 32.27 ETH (approximately $111,000) in trading volume.

Trump’s second NFT collection has experienced even more substantial growth, with a 632% increase in trading volume on OpenSea, reaching 13.52 ETH. Despite the momentum, the floor price is around $66, 30% below its peak of $93.

However, Trump’s third collection, the “Mugshot Edition,” launched in December 2023, did not sell out. There were no recorded sales between March and May, and the average floor price was around $100.

In addition to his NFT ventures, Trump’s campaign has embraced cryptocurrency donations. The Federal Election Commission (FEC) reported that about $3 million of the $331 million raised by Trump’s campaign last quarter came from crypto donations, underscoring the growing role of digital assets in politics.