NFTs
Melania Trump’s NFT hits the market as Donald Trump’s legal fees reach $86 million – DL News
- Donald Trump has taken a liking to crypto ever since he dismissed Bitcoin as a ‘scam’.
- NFTs offer a ready-made way to raise money, but valuations can plummet quickly.
- The first of Trump’s four criminal trials began this week.
In 2022, Melania Trump’s first NFT failed.
Portraying a white hat she wore to an event at the White House, the former first lady reportedly paid a price of $185,000 herself.
Now she’s back with a new offering – a gold necklace engraved with her signature for $245 each. Buyers will automatically have access to an NFT version.
And her husband, former President Donald Trump, may be tempted to rekindle his own relationship with NFTs as his legal bills mount.
Stay ahead of the game with our weekly newsletters
Four criminal trials
With the first of Donald Trump’s four criminal trials beginning this week in Manhattan, his legal costs have reached incredible US$86 million since he started his presidential campaign, according to The Washington Post.
The New York real estate mogul has once again resorted to putting his name on consumer products to raise money.
In February, he began selling “Never Surrender High-tops,” gold sneakers with an American flag, for $399.99 a pair.
Before winning the White House in 2016, Donald Trump sold everything from Trump Steaks to Trump Vodka to a Trump University (closed after numerous investigations and lawsuits).
Join the community to receive our latest stories and updates
Donald Trump has been pressuring his political campaign committees to pay more than a quarter of your legal billsaccording to The Washington Post.
With NFTs so easy to make and sell, could they be far behind?
In December, Donald Trump released an NFT of his photo taken after he was accused of violating Georgia election law in 2016.
A year earlier, Donald Trump released two series of baseball card-style NFTs featuring themselves in a variety of heroic costumes and poses, such as hunting gear or wearing a cowboy hat. They are worth a total of $13 million, according to NFT minimum price.
According to OpenSea, the popular NFT marketplace where Donald Trump NFTs are traded, secondary sales generated a 10% royalty rate. This fee has became optional in March.
‘A scam’
Donald Trump’s adoption of crypto has evolved since 2021 when he fired Bitcoin as “a fraud against the dollar”.
He is awake with lawmakers from both political parties that a digital US dollar – a CBDC in crypto jargon – would be a threat to Americans’ civil liberties.
Last month, the Republican Party’s presumptive presidential nominee suggested he wouldn’t crack down on crypto if he returned to the White House.
“I’m not sure I’d like to accept [cryptocurrencies] right now,” he said. CNBC.
Although web3 is on the rise thanks to the Bitcoin-led rally, NFTs are an unreliable source of money.
The value of Donald Trump’s first trading card collection plummeted 50% shortly after he released the second edition.
Over the past three months, both collections have lost the attention of speculators, with trading volumes for each falling more than 30%.
Exploding rose
That hasn’t stopped Melania Trump from trying her luck in space. On her website, the former model offers NFTs of her portrait and an explosive rose.
She promises proceeds from the latter will go to Fostering the Future, a charity for children aging out of the foster care system.
About other websiteshe offers others that depict the Declaration of Independence, scenes from Donald Trump’s presidency and the moon landing.
Liam Kelly and Joanna Wright write about web3 for DL News. Contact them at liam@dlnews.com It is joanna@dlnews.com.