The Trump NFT craze has captured public attention and made millions in sales, but recent events have raised questions about the project’s transparency and value. Internet sleuths have pointed out inconsistencies in handling the NFTs, such as using stock imagery and buyers opening new wallets without holding any cryptocurrency.
Trump and NFTs
Former President Donald Trump has found a new way to monetize his time, ego, and love of attention – by releasing a collection of NFTs (non-fungible tokens) that depict him as a hero in various over-the-top poses. In one NFT, Trump stands proudly in front of Mount Rushmore as if he’s about to take his place among the other presidents carved into the mountain.
In another, he is a proud American astronaut, ready to boldly go where no man with terrible hair has gone before. And the best part? These digital assets sold out in hours, proving again that there’s no limit to the public’s appetite for all things Trump, NFT, and strange.
But, hey, at least we have a new way to poke fun at the former commander-in-chief without worrying about getting sued. Many people wanted to buy the priced jpegs as they all sold out in just 12 hours! and made a lot of money – $4.45 million, to be exact.
But even after all the initial sales, people were still really interested in these Trump cards. Hence they started buying and trading them on different websites. The Trump Cards made $11.99 million in sales after selling 68,058 times in a week. Even though Trump’s face is on the cards, he does not own or runs the project.
There’s a company called NFT INT that’s in charge of everything, and they get to keep a percentage of the money made from the sales. NFT INT made a deal with Donald Trump to use his name and likeness on the NFT collection and profit from the proceeds. So Trump and his team got a rare card that could be worth a lot someday.
The Controversy
But over the weekend, something strange happened with these NFTs. A Twitter user named @NFTherder noticed something fishy going on with some of the rarest NFTs in the collection. So they researched and found out that NFT INT had created extra 1,000 NFTs and kept them.
Wait, what? Yeah, you read that right. The people behind the Trump collectible NFTs made a bunch of extra NFTs and didn’t tell anyone. And not only that, but they used a special kind of digital wallet to do it, so it was sneaky.
Usually, when there’s a limited number of something rare and valuable, like NFTs, people expect they will be available for anyone to buy. But in this case, it looks like NFT INT kept some of the NFTs for themselves.
These actions might mean that the NFTs are more common and valuable than we thought. But don’t worry, there’s still hope! NFT INT may come clean and explain what’s going on. Or they’ll decide to sell the extra NFTs after all.
In the meantime, we’ll have to wait and see what happens with these mysterious NFTs. And if you’re feeling burned by the whole thing, remember: plenty of cool NFTs are available to collect. Happy hunting!
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