Donald Trump has entered the world of Bitcoin-based digital collectibles by launching a new NFT collection.
The collection, titled "Trump Bitcoin Digital Trading Cards," features 160 unique digital trading cards, with an additional 40 cards to be released in the future. The collection is available on the Magic Eden NFT marketplace.
Each wallet can have a maximum of 100 cards, but buyers are not required to purchase multiple cards at once. The collection includes a special "Mugshot Edition" that offers bonuses for those who acquire 100 cards.
The collection has received a positive reception so far, with 29% already minted. Buyers can acquire the cards by linking their Bitcoin wallets to the marketplace platform.
Trump previously launched the "America First" collection in August 2024, but it has struggled with low trading activity.
The broader NFT market has shown growth, with total sales of $8.8 billion in 2024. Ethereum and Bitcoin are leaders in this space, each generating $3.1 billion in sales. Solana has secured a strong third position.
Despite the overall growth, 98% of collections experience minimal trading activity, and many new releases lose value shortly after launch. The NFT market faces challenges, with only 0.2% of new products turning a profit.
The recent closure of Kraken's NFT marketplace highlights the difficulties in the industry. Trading dynamics in the NFT market are shifting towards more mature forms of investment.
The success of Trump's NFT collection may depend on its ability to maintain engagement and trading activity over time. The collection could set a precedent for future celebrity-backed digital collectibles.
Trump's entry into the Bitcoin NFT market has implications for the intersection of politics, celebrity culture, and blockchain technology. The coming months will reveal whether this collection can overcome the challenges faced by its predecessors and establish a lasting niche in the world of NFTs.