Former president Donald Trump, a self-declared pro-crypto candidate, plans to re-enter the NFT market with a new collection. In an interview with Bloomberg, the Republican presidential nominee announced that a fourth Trump-themed NFT collection is on the way.
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An NFT (non-fungible token) is a unique digital asset that includes forms such as art, music, in-game items, and videos. These assets are stored on a blockchain network and traded using cryptocurrency.
In 2021, amid the NFT market boom, Trump made his first foray into the NFT space despite being a crypto skeptic at the time. Together with his wife, Melania Trump, he launched NFT collections featuring Melania’s “cobalt blue eyes.” In 2023, he released another collection named “MugShot,” centered around the theme of his ongoing criminal indictments.
In the Bloomberg interview, Trump mentioned that his previous collections sold out in a day. “The whole thing sold out: 45,000 cards. And I did it three times. I’m going to do another one, because the people want me to do another one. It’s unbelievable spirit. Beautiful,” he said.
Once critical of cryptocurrency, Trump had labeled Bitcoin a “scam against the U.S. dollar.” He now acknowledges the importance of U.S. leadership in the crypto space, warning that if the U.S. misses this opportunity, China might lead the sphere.
“Crypto is still in its infancy,” the former president 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 contributing to Trump’s campaign. The Wall Street Journal reported that Trump’s election campaign raised $331 million last quarter, with $3 million coming from crypto. As Trump’s stance on cryptocurrency has evolved, major crypto firms and advocates, including Elon Musk, Coinbase, Gemini, and Kraken, have donated to his campaign.
PredictIt, an online betting site, increased Trump’s election odds from 60 cents to 67 cents, while Joe Biden’s odds stood at 27 cents. Additionally, Trump’s chances of winning the presidential election improved on Polymarket, the world’s largest prediction market, after he announced pro-crypto senator J.D. Vance (R-Ohio) as his chosen running mate.