NFTs
Three Key Highlights of Donald Trump’s Mugshot NFTs Event
NFT enthusiasts are excited about former US President Donald Trump’s pledge to make “NTFs hot again” during an event at his Florida residence.
Trump criticized his political rival’s “unofficial meme currency,” a comment that sent his meme currency (TREMP) soaring. The presidential hopeful also promised to support crypto entrepreneurs by creating a regulatory environment conducive to their growth.
Donald Trump sparks interest in NFTs
In his speech, Trump emphasized the need to address perceived hostility by the incumbent administration and regulators toward the crypto industry. He promised to champion innovation and keep crypto talent within US borders.
During the event, Trump couldn’t resist talking about his own role in strengthening the NFT market. With a hint of pride, he credited his extensive collection of Mugshot NFTs and other pieces of digital art. He considered this as a reward for rekindling interest in NFTs at a time when the market appeared to be losing steam.
Trump’s remarks highlighted the growing intersection of politics, celebrity culture and the expanding world of digital collectibles. The exclusivity of the event, where attendees had to purchase one of Trump’s Mugshot NFTs to enter, further emphasized its importance in the NFT Space.
Notably, Trump did not hesitate to express his opinions on certain crypto projects, creating a moment that captured both the mood and the impact on the market. He openly criticized the Biden-associated memecoin Jeo Boden (BODEN), dispensing its market capitalization of US$260 million as excessive.
However, his comments in turn triggered a 10% increase in the price of BODEN, demonstrating how celebrity endorsements can impact cryptocurrency markets. Meanwhile, another meme coin, Donald Tremp (TREMP), recorded a sharp increase in 110% in value after the Trump event.
Trump’s playful jabs and market commentary excited the already vibrant gathering of NFT enthusiasts.
Trump’s interest in crypto
Surprisingly, Trump, who once fired Bitcoin, considered a scam three years ago, appears to have changed its mind. In recent months, their acceptance of crypto assets and the industry in general has grown.
When asked about the possibility of people donating to his campaign using crypto, Trump indicated his willingness to facilitate this if necessary.
However, despite this new openness to crypto, Trump remains a staunch supporter of the US dollar’s dominance in the traditional banking system. He made it clear that he has no intention to enable the launch of any potential central bank digital currency.
One particularly noteworthy development is the emergence of the mugshot NFT, which is linked to Trump’s legal troubles. This digital collectible came about after he turned himself in to Georgia authorities in August 2023.
At the time, Trump was dealing with his alleged involvement in rigging the 2020 elections. However, his legal troubles did not end there as he also faces a separate criminal trial. He is on trial for allegedly falsifying documents related to a $130,000 payment to Stormy Daniels, an adult film star.
Currently, Trump finds himself entangled in legal procedures In New York. Since jury selection began in the middle of last month, trial days have consumed much of her time.
However, the court is closed on Wednesdays, so Trump took a brief break and flew to his Florida residence on May 8 to host the recent event.
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