New Filing Reveals Trump Earned Up to $1 Million from NFT Sales – Here’s What You Need to Know

Author

Ruholamin Haqshanas

Author

Ruholamin Haqshanas

About Author

Ruholamin Haqshanas is a contributing crypto writer for CryptoNews. He is a crypto and finance journalist with over four years of experience. Ruholamin has been featured in several high-profile crypto...

Author Profile

Share

Copied

Last updated:

June 26, 2023 06:58 EDT

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

Donald Trump, the 45th President of the United States, has raked in up to $1 million from the sales of his digital trading cards.

According to a filing with the US Office of Government Ethics, the former US president earned between $100,001 to $1 million from CIC Digital, the company behind the sale of NFTs featuring digital images of Trump.

The filing was part of his personal financial disclosure with the Federal Election Commission, which also showed that the American politician earned millions from speaking engagements. The filing is required of candidates running for president.

According to the filing, submitted on Friday, Trump holds the position of “manager, president, secretary and treasurer” at CIC Digital LLC and CIC Ventures LLC. 

On the official Trump Trading Cards website, it says that CIC Digital LLC allowed NFT INT LLC, the company behind the NFT project, to use Trump’s likeness, name, and image under a paid licensing agreement.

The project’s website also claimed that funds raised from the NFTs won’t be used for Donald Trump’s presidential campaign.

As reported, the former president released its collection of NFTs, dubbed “Trump Cards,” in December last year. 

The NFT collection features a series of digital “cards” depicting Trump in various iconic poses and situations, which include Trump as a muscle-bound wrestling champion, Trump holding a basketball, and even Trump in space. 

“These limited edition cards feature amazing ART of my Life & Career!” he said at the time, adding that the cards, costing $99 (£81) each, “would make a great Christmas gift.” 

There were a total of 45,000 NFTs, all minted on Polygon, a layer-two scaling solution that runs alongside the Ethereum blockchain and allows for speedy transactions and low fees. 

More recently, the NFT collection saw a spike in price following news that a grand jury in Manhattan voted to indict Trump.

All in all, the project has done over $19 million in sales since its inception, according to on-chain data from NFT data aggregator CryptoSlam.

As of now, the highest offer on a Trump NFT is 10 ETH, or about $20,000. Most of the offers appear to be in the range of 0.3 ETH (about $630).

Trump Made Around $200 From Truth Social

The filing also said that Trump earned less than $201 in income from Trump Media & Technology Group, the company behind the former president’s preferred social media platform Truth Social. 

On the disclosure, the company was valued between $5 million and $25 million.

Furthermore, Trump’s 1987 memoir “The Art of the Deal” brought in between $100,000 and $1 million for the former president, according to the disclosure.

The billionaire also lists seven different mortgage liabilities, each in excess of $50 million, and eight that he owes between $5 million and $25 million.

Altogether, the documents suggest that Trump’s business holdings are valued at around $1.2 billion. Forbes estimates the businessman is currently worth more than $2.5 billion.