Former president Donald Trump, a self-declared pro-crypto candidate, plans to re-enter the NFT market. In an interview with Bloomberg, the Republican presidential nominee announced that a fourth Trump-themed NFT collection is on the way.
An NFT (non-fungible token) is a unique digital asset that can take the form of art, music, in-game items, videos, and other types of digital content. These assets are stored on a blockchain network and traded using cryptocurrency.
In 2021, during the NFT boom, Trump initially entered the market despite being a crypto-skeptic at the time. He and his wife, Melania Trump, launched NFT collections that featured Melania’s “cobalt blue eyes.” In 2023, Trump introduced his latest NFT collection, “MugShot,” which focused on the theme of his ongoing criminal indictments.
Trump told Bloomberg that his previous collections sold out in a day. “The whole thing sold out: 45,000 cards. And I did it three times [and] I’m going to do another one, because the people want me to do another one. It’s unbelievable spirit. Beautiful.”
Once a critic of Bitcoin, calling it a “scam against the U.S. dollar,” Trump has now emphasized the importance of U.S. leadership in cryptocurrency. He warned that if the U.S. misses this opportunity, another country like China could take the lead.
“Crypto is an infant right now,” the former president stated in the Bloomberg interview. “But I don’t want to be responsible for allowing another country to take over this sphere,” he added.
Several crypto companies are contributing to Trump’s campaign. The Wall Street Journal reported that Trump’s election campaign raised $331 million last quarter, with $3 million coming in crypto. As Trump’s stance on crypto has evolved, major crypto companies and advocates, including Elon Musk, Coinbase, Gemini, and Kraken, have donated to his campaign.
PredictIt, an online betting site, raised the odds of Trump’s election win from 60 cents on Friday to 67 cents, while Joe Biden’s odds were at 27 cents. Additionally, Trump’s chances of winning the presidential election increased further on Polymarket, the world’s largest prediction market, after he announced J.D. Vance (R-Ohio), a pro-crypto senator, as his running mate.