Donald Trump To Launch NFT On Bitcoin Network

Donald Trump's NFT will be released on the bitcoin blockchain. (Photo; Doc. Decrypt)

JAKARTA - Former President of the United States (US), Donald Trump, is rumored to be releasing a collection of Bitcoin-based digital arts. This collection is in the form of a Trump Digital Trading Card (NFT) printed on the Bitcoin blockchain using the Bitcoin Ordinary platform.

In an announcement shared by CollectTrumpCards on platform X, Trump's NFT collection offers 100 digital trading cards that can be purchased using WETH, a token equivalent to Ethereum. Each digital trading card has a limited edition of 200 pieces with MugShot design, which is a photo of Trump's face taken from various occasions.

The announcement also emphasizes that there are only 99 exclusive cards available for purchase, as one card has been purchased by CollingTrumpCards itself. The price of each card is not stated, but is estimated at thousands of US dollars.

Trump's NFT collection will be launched in 2024, along with the US presidential election. The collectors who purchase this digital trading card will be able to claim their exclusive Ordinarys listing later on Magic Eden, a Solana-based NFT marketplace. This launch is accompanied by a disclaimer stating, "The Digital Trump Trading Card (NFT) is intended as a collection item for individual pleasure only, not for investment facilities."

Ordinary, Bitcoin-Based NFT

Bitcoin Ordinarys, launched last year, is a platform that allows the creation and recording of art and digital collections on the Bitcoin blockchain. The platform uses Lightning Network technology, a Layer 2 solution that increases the speed and efficiency of Bitcoin transactions.

Using Bitcoin Ordinarys, artists and collectors can create and trade NFTs at low cost and high security. The platform also offers unique features such as Recording Ordinarys, a system that records the sequence of NFT creations on the Bitcoin blockchain, thus providing added value to collectors.

This development follows the success of the previous NFT collection of former Trump presidents. In November 2023, Trump released a Trump Digital Trade Card series consisting of 10,000 NFTs with various designs and attributes. The series sold out in a short time and recorded a high volume of trade on the NFT market.

The launch of Trump's NFT collection has also surfaced amid controversy involving Trump and the central bank digital currency (CBDC). Trump has expressed his rejection of Joe Biden's administration's plan to develop the US CBDC, which is known as the digital dollar. Trump claims that the US CBDC will threaten the freedom and sovereignty of the US people.

As the 2024 election draws near, Trump appears to be trying to leverage the NFT trend to increase his popularity and funding. According to NFT Price Floor, Trump's Card collection ranks 16th in the NFT Brand ranking with an accumulated market cap of 26,576 ETH (approximately IDR 414 billion). In the last 24 hours, three cards collectively recorded trading volumes of 66,479 ETH (approximately IDR 1 trillion) and reached 366 sales according to data disclosed by the platform.