Donald Trump's NFT Trading Cards Sell Out, Raise Over $5M

[TomCADem]

It is not surprising that Trump decided to grift his supporters. That is what Republicans do. It is sort of like DeSantis going anti-vax to the detriment of his constituents. What is amazing is how people keep on falling for these grifts.

https://www.cnet.com/culture/donald-trumps-nft-trading-cards-sell-out-raise-over-5m/

Earlier in the week, Donald Trump teased a "major announcement" on Truth Social, the platform he took to after being banned from Twitter last year. Some speculated Trump would be announcing his running mate for the 2024 presidential election, or some other key detail for his campaign. The news turned out to be a disappointment even to some of Trump's supporters: a Trump-themed NFT collection.

"My official Donald Trump Digital Trading Card collection is here!" he posted on Thursday. Trump never used the abbreviation "NFT" in the post, but that's indeed what the "digital trading cards" are: 45,000 NFTs on the Polygon blockchain, priced at $99 each.

Though the NFTs were widely mocked by both Trump supporters and detractors alike, all 45,000 sold out in around 12 hours, according to OpenSea data. At $99 each, that means $4.45 million has been raised. The collection's creators also receive 10% of every sale on secondary markets like OpenSea. Thus far traders have spent $5.2 million (4,442 ether) trading the cards on OpenSea, netting creators an extra $520,000.

NFT traders never miss out on a good chance to speculate, leading to strong secondary market performance for the collection. The cheapest Donald Trump Trading Card NFTs are now selling for about $650, more than six times the original $99 asking price.

[FalloutShelter]

1. Wonder what Vlad will do with all of them?

[OAITW r.2.0]

2. Were the buyers the rubes?

Or a networks of individuals who will use the secondary market to launder money?

[True Blue American]

3. I heard 2 million

This morning!

[womanofthehills]

4. Over at OpenSea where they are listed

Yesterday they were selling for close to $700 - dropped down to around $500 today so only a quick turnaround for the early sellers so far.

https://opensea.io/collection/trump-digital-trading-cards

[gulliver]

5. I was worried it was going to make Trump a lot of money

But I'm feeling better. Trump's name is well known, but it's also mud. Who would want to money launder using something connected with Trump? Who would want to speculate?

[NullTuples]

8. $4.45 million. He's done more work for less.

[Botany]

6. Mohammed bin Salman Al Saud

[NullTuples]

7. How does a low quantity virtual resource "sell out"? Also, check the blockchain transaction volume.

I still say this exceedingly feels like a front for an untracked exchange of funds, aka money laundering.

Also, why do the media and readers believe *anything* he says?

For instance, according to,

https://www.coindesk.com/price/polygon/

transaction volume on the polygon blockchain has dropped from 7.68k to 6.77k over the last two days, with the price dropping.

Surely the sale of 45k NFT's based on that blockchain would've shown up.

NFT's are better than fine art for illicit, untracked fund moving between parties.

[True Blue American]

10. The address was tracked down. It is an address used

Crooks and money launders.

[NullTuples]

11. What address, please?

[True Blue American]

9. I heard 2 million

This morning!

[Chainfire]

12. I am holding out until the release the prison edition.

Trump in scullery garb, Trump sweeping up the prison yard, etc.