Former President Donald Trump, a self-proclaimed pro-crypto candidate, plans to re-enter the NFT market. In an interview with Bloomberg, the Republican presidential nominee revealed that a fourth Trump-themed NFT collection is forthcoming.
An NFT (non-fungible token) is a distinctive digital asset that can include art, music, in-game items, videos, and other digital content, stored on a blockchain network and traded using cryptocurrency.
In 2021, during the NFT trend surge, Trump made his first move into the market. Despite his initial skepticism, Trump and his wife, Melania, debuted NFT collections featuring Melania’s “cobalt blue eyes.” In 2023, he introduced his latest collection, “MugShot,” centered on his criminal indictments.
Trump mentioned to Bloomberg that his previous collections sold out swiftly. “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. It’s unbelievable spirit. Beautiful,” he said.
Previously critical of Bitcoin, calling it a “scam against the U.S. dollar,” Trump emphasized the need for U.S. leadership in cryptocurrency during the Bloomberg interview. He cautioningly noted that if the U.S. overlooks this opportunity, China might dominate the sector.
Cryptocurrency 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 supporting Trump’s campaign. The Wall Street Journal reported that Trump’s election campaign raised $331 million last quarter, with $3 million in crypto. As Trump’s stance on cryptocurrency evolved, notable crypto companies and advocates like Elon Musk, Coinbase, Gemini, Kraken, and others have contributed to his campaign.
PredictIt, an online betting site, increased Trump’s election odds from 60 cents on Friday to 67 cents, while Joe Biden’s odds stood at 27 cents. Additionally, Trump’s chances of winning the presidential election rose on Polymarket, a leading prediction market, after he announced J.D. Vance (R-Ohio), a pro-crypto senator, as his running mate.