Trump joins the crypto circle: Buy $4,653 in NFT to attend the dinner

On the evening of May 8, local time, Donald Trump, the Republican candidate for the 2024 U.S. election, held the latest NFT dinner at the Mar-a-Lago Resort in Palm Beach, Florida. . Buyers who purchased at least 47 Trump “MugShot Edition” (mugshot) NFTs were invited to attend, and Hong Kong actor Feng Delun, who is keen on NFTs, also appeared at the scene. At the rally, Trump announced his strong embrace of cryptocurrencies, pledging to end U.S. hostility to digital currencies. This is a significant shift from his previous criticism of cryptocurrencies.

On holiday Before the dinner held on Court Day, Trump announced that he was accepting donations for the U.S. presidential campaign in the form of cryptocurrency, Watcher.Guru reported. Subsequently, the prices of Trump-related meme coins TRUMP and NFT rose by more than 55% and doubled respectively in a short period of time.

Holding an NFT dinner to attract large buyers

Trump Digital Trading Card (Trump Digital Trading Cards) currently has 3 series. The first series, released in December 2022, features 45,000 cards and includes images of him as a superhero, astronaut, western sheriff and a range of other fantasy characters. These NFTs are minted on Polygon, and standard-issue cards are sold for $99 each. Customers who purchase 45 cards can receive a ticket to the NFT dinner. According to data from OpenSea, all 45,000 NFTs sold out in approximately 12 hours.

On April 19, 2023, the Trump team launched the second series of Trump digital trading cards, maintaining the price of $99 per card, and It was sold out 5 hours after its release, earning 4.6 million U.S. dollars, and its ability to attract money remains the same.

The most recent dinner was the rights to the MugShot Edition of Trump NFT. There are a total of 100,000 NFTs in this series, of which 99,000 are available for purchase at $99 each. They are also minted on Polygon. If you purchase 47 NFTs ($4,653) in a single transaction, you will get a chance to advance with Trump. Dinner opportunity.

If the buyer is more generous and spends nearly US$10,000 to purchase 100 MugShot Edition NFT cards, he can attend the VIP cocktail reception before the dinner and will also receive A one-of-a-kind Bitcoin-inscribed digital trading card (limited to 200), and two VIP dinner tickets for the buyer and friends to dine with Trump, where the buyer will be seated at the VIP table.

The images on the Mugshot Edition NFT collection vary, from a police custody photo of Trump to an image of him wearing a cowboy hat to a cartoon The image of Trump has lightning in his hand, with "America's Superhero" written underneath. But officials say the digital trading cards are not political and have nothing to do with any political campaign.

Buy Buyers of these mugshot NFTs will also receive a physical card with the fabric of Trump’s suit when he took the mugshot on it. Trump's mugshot photo was taken at the Fulton County Jail in Atlanta, Georgia, on August 24, 2023. Trump was previously indicted on racketeering and other charges. This is the first and so far only recorded photo of the President of the United States. After the photo was posted, it became an internet meme and appeared on the front pages of several newspapers around the world.

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"This card is more than just a keepsake; it's part of a piece of history, and A testament to resilience,” the official website describes the physical card with the suit fragments. "It symbolizes President Trump's firm commitment and tireless struggle for the American dream."

According to The Independent, here In response to a question about how to keep cryptocurrency businesses in the United States at the dinner, Trump emphasized his commitment to keeping them in the United States. He expressed concern about the potential relocation of crypto businesses due to hostility to the industry, saying: “If crypto leaves the United States because of hostility to crypto…well, we’re going to stop it. We don’t want that. If We’re going to embrace it, we’ve got to keep them here”

Trump says President Joe Biden doesn’t know what cryptocurrencies are, saying. "Democrats are very opposed to it" and "if you support cryptocurrency, you'd better vote for Trump."

Although Trump told New Hampshire in January A group of people who would never allow the creation of a central bank digital currency have called it a "dangerous threat to freedom," but it seems the former US president is slowly coming to terms with the world of cryptocurrencies. According to Cointelegraph, when asked if people could donate to him using cryptocurrency, he responded: "If you can't, I'll make sure you can."

Meme coins surged 55%, and NFT floor prices doubled

With a series of actions and news, according to CoinMarketCap data, Trump-related Meme Coin MAGA (TRUMP) subsequently rose from US$4.2 in the early morning of May 9 to US$6.52 at noon on May 9, an increase of 55%, and was quoted at US$5.48 in the morning of May 11.

As of the morning of May 11, another Meme currency Doland Tremp (TREMP) quoted $0.652, an increase of 69.85% on the 7th. Even the Meme coins related to Biden are on fire. On May 9, Boden, a joke Meme coin that deliberately misspelled U.S. President Biden’s name, soared by 25% after Trump answered a reporter’s question

In one episode, American talk show host Jimmy Kimmel even slammed Donald Trump’s NFT project collectors as “fools” and “freaks.” However, the recent secondary market prices of Trump-related NFT assets have not This did not stop the rise.

According to data from NFT Floor, Trump Digital Trading Cards (Trump Digital Trading Cards) minted on Polygon increased from 211.56 at 10:00 on May 9 The U.S. dollar rose to $465.7 at 4 pm on May 9, an increase of 120%. As of approximately 2 p.m. on May 10, the trading volume on the 7th reached US$42,921, an increase of 561.33%.

Trump’s Series 2 NFT collection has sold even more than the original series, reaching 405 sales in 24 hours on May 9. However, they're much cheaper, with a floor price of around $82, down from the original $99 first sale price.

Historically, Trump’s NFT cards have achieved mixed results. In March 2023, the price of the first series of Trump’s digital trading card NFTs skyrocketed, with a maximum price of nearly $1,700, after he was indicted in the Manhattan District Attorney’s investigation for allegedly using 2016 campaign funds to pay Stormy Daniels hush money. However, shortly after the second series of Trump cards was released on April 18, 2023, their value dropped rapidly.

It is worth mentioning that according to the official website, the Trump card is "not owned, managed or controlled by Trump", but is made by NFT INT LLC owned. Trump licenses his image to the company, which pays a portion of the profits to a company Trump owns. According to his financial disclosures, Trump earned between $500,000 and $1 million in 2023 from licensing the Trump Card NFT image.