In an intriguing development in the cryptocurrency world, a new collection of Donald Trump NFTs dubbed the “Mugshot Edition,” is set to launch on the Bitcoin network through Bitcoin Ordinals. This collection, unique in its nature, comprises 200 distinct digital trading cards. It stands out as the only Trump-themed collection on the Bitcoin network. This move follows Trump’s indictment and is a significant step in the realm of digital collectibles.
Understanding the Purchase Process
Users must use wrapped-ETH (wETH) on the CollectTrumpCards.com platform to acquire these NFTs. A notable aspect of this offering is that purchasing 100 Trump Digital Trading Cards guarantees an Ordinals inscription. The entire process necessitates the use of a self-custody wallet by the buyer for claiming these trading cards. Notably, the NFTs are initially issued on the Polygon network, as announced previously in December.
Wrapped-ETH plays a central role in this transaction process. As a modified version of Ethereum, wETH allows traders to operate on an ERC-20-compatible blockchain. Potential buyers need to ensure they have sufficient wETH to complete their purchases. Additionally, the terms and conditions specify that trading of these cards on marketplaces is only permissible starting from December 2024.
Impact and Sales of the Trump NFT Collection
The introduction of the Trump NFT collection on the Bitcoin Ordinals is a significant event in the crypto world, occurring several months after Trump’s charges related to the 2020 US elections manipulation. Trump’s involvement in this NFT venture has been a point of discussion, especially since he amassed substantial earnings from previous collections despite his initial skepticism about cryptocurrencies. His stance against central bank digital currencies (CBDCs), fearing their potential for government control over finances, resonates with many in the crypto community.
Interestingly, Trump’s campaign for the 2024 US Presidential elections is potentially beneficial for the crypto sector. His team includes Peter Thiel, a Bitcoin venture capitalist, suggesting a positive outlook for the industry if Trump succeeds. Thiel’s involvement is pivotal, focusing on identifying potential Cabinet members who are tech-savvy and can positively influence policies in favor of the tech industry.
However, there are concerns regarding the influence of personal financial interests in policy-making, especially with Thiel’s involvement. Critics, including Lisa Graves from the Center for Media and Democracy, express apprehension about the potential for policy shifts that could primarily benefit individuals like Thiel financially.