How Trump’s views on crypto have shifted from ‘scam’ to NFT mania

    After the information broke out that the previous president of the USA, Donald Trump, could be launching a set of non-fungible token (NFT) buying and selling playing cards in his likeness, it’s price reminding that he wasn’t at all times this open to the cryptocurrency sector.

    Certainly, Donald Trump’s assortment of 45,000 NFTs minted on the Polygon (MATIC) blockchain was met with hype after he introduced the launch on his social media platform Reality Social on December 15, promoting out quickly on the authentic value of $99.

    The holders of a Trump NFT are additionally given an opportunity to win a dinner with the previous president, golf with him in his golf membership, have Zoom calls, have a stay assembly with Trump, in addition to obtain memorabilia hand-signed by Trump himself.

    Trump wasn’t at all times a fan

    That stated, Trump began out with a really skeptical angle concerning the novel asset class, stating in July 2019, when he was nonetheless within the White Home, that he wasn’t a fan of digital belongings with “highly volatile” worth:

    Two years later, the previous president referred to Bitcoin (BTC) as a ‘scam,’ stating that he didn’t prefer it “because it’s another currency competing against the dollar,” for which he needed to be “the currency of the world.” As he defined:

    “And I don’t think we should have all of the Bitcoins of the world out there. I think they should regulate them very, very high. (…) It takes the edge off of the dollar and the importance of the dollar.”

    Criticism over NFT launch

    As for his latest NFT journey, not all of Trump’s supporters are on board. Keith and Kevin Hodge, stand-up comedians and vocal Trump followers, posted on Twitter that “whoever told Trump to do this should be fired.”

    In one other post, they stated:

    “Man, when all Patriots are looking for is hope for the future of our country, and Trump hypes everybody up with a ‘BIG ANNOUNCEMENT’ then drops a low-quality NFT collection video as the ‘announcement,’ it just pushes people away… Damn.”

    In the meantime, the reselling of Trump Digital Buying and selling Playing cards continues, surpassing 7,092 ETH in quantity on the NFT buying and selling platform OpenSea, presently price round $6.63 million, making an allowance for the value of Ethereum on the time of publication.

    Quantity and value of Trump Digital Buying and selling Playing cards. Supply: OpenSea

    Apparently, all of the proceeds from the gross sales is not going to be directed to Trump’s 2024 marketing campaign however as an alternative will go to the previous president himself below a licensing deal, over which a few of his aides voiced concern, The New York Instances’s Michael C. Bender and Maggie Haberman reported.

    Disclaimer: The content material on this website shouldn’t be thought of funding recommendation. Investing is speculative. When investing, your capital is in danger. 

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