Former president Donald Trump, a self-declared pro-crypto candidate, plans to venture into the NFT arena once again. In an interview with Bloomberg, the Republican presidential nominee announced that a fourth Trump-themed NFT collection is forthcoming.
An NFT (non-fungible token) is a unique digital asset that can represent art, music, in-game items, videos, and other digital content stored on a blockchain network and traded using cryptocurrency.
In 2021, when NFTs were gaining popularity, Trump entered the NFT market for the first time. Despite initially being a crypto-skeptic, Trump and his wife, Melania Trump, launched NFT collections featuring Melania’s “cobalt blue eyes.” In 2023, he introduced his latest NFT collection, “MugShot,” centered around the theme of his ongoing criminal indictments.
Trump told Bloomberg that his previous collections sold out within a day. “The whole thing sold out: 45,000 cards,” he said. “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 emphasized the importance of U.S. leadership in cryptocurrency during the Bloomberg interview. He warned that if the U.S. misses the opportunity, then China will take the lead.
Crypto is “an infant right now,” Trump told Bloomberg. “But I don’t want to be responsible for allowing another country to take over this sphere,” he added.
Several crypto companies are donating to Trump’s campaign. The Wall Street Journal reported that Trump’s election campaign raised $331 million last quarter, including $3 million in crypto. Amid Trump’s shift on crypto, major crypto companies and advocates such as Elon Musk, Coinbase, Gemini, Kraken, and others have contributed 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 further increased on Polymarket, the world’s largest prediction market, after he announced J.D. Vance (R-Ohio), a pro-crypto senator, as his choice for running mate.