- Donald Trump’s latest NFT collection earned over $2 million in sales.
- NFTs cannot be resold until January 31, 2025, adding market restrictions.
Donald Trump’s latest NFT collection, launched on August 27, shows contrasting outcomes just one day after its debut. The “America First Edition” digital trading cards have achieved over $2 million in sales despite a sluggish NFT market. However, the collection’s overall performance appears mixed when considering its size.
In a weakened NFT market, Donald Trump’s collection has surpassed even CryptoPunks, the leading NFT collection. Yet, the total number of cards sold is approximately 20,700 out of a possible 360,000, representing only 5.7% of the total supply. Donald Trump’s earlier NFT ventures performed better. His initial two collections, each consisting of 44,000 and 46,000 NFTs, quickly sold out. His third collection, launched last December, featured 100,000 NFTs, but only half were sold.
Despite the current lower figures, the revenue remains substantial. The funds will not support Donald Trump’s presidential campaign, as stated on the project website. Instead, they will likely fund perks for buyers, such as a gala dinner with Trump,Trump-branded golden sneakers and a piece of the suit Trump wore during his recent debate with President Joe Biden. Additionally, buyers cannot resell these NFTs on secondary marketplaces until January 31, 2025, a restriction similar to Trump’s previous collection.
Donald Trump’s NFT Collection: Mixed Results and Regulatory Issues
The collection’s launch coincides with a significant development in the NFT space. OpenSea, the platform hosting Trump’s new collection, recently received a Wells Notice from the U.S. Securities and Exchange Commission (SEC). According to OpenSea co-founder and CEO Devin Finzer, the SEC plans to sue, alleging that NFTs on their platform are securities.
The notice reflects ongoing regulatory scrutiny in the NFT market, which may impact future NFT projects. Despite these challenges, Donald Trump’s NFT collection remains a notable entry in the digital trading card space, with mixed results and ongoing implications for both buyers and sellers.
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