Good Lord. Trump’s NFT Superhero cards sold out immediately bringing in at least 4.5 million dollars.
For this:
Yes, one of the cards evidently says “RUMP TOWER”. You cannot make this stuff up.
Though the NFTs were widely mocked by both Trump supporters and detractors alike, all 45,000 sold out in around 12 hours, according to OpenSea data. At $99 each, that means $4.45 million has been raised. The collection’s creators also receive 10% of every sale on secondary markets like OpenSea. Thus far traders have spent $406,000 (320 ether) buying and selling the NFTs on OpenSea. Who that money goes to and how it’s used remains a mystery.
They aren’t even real collectibles. They’re NFTs. How pathetic.
NFT INT, the company behind the collection, says on its site that the money raised won’t be funneled into Trump’s 2024 presidential campaign. A blurb on its site states that NFT INT is not owned by Trump or any of his organizations, and that Trump himself isn’t actually behind the collection. Instead, Trump licensed his name, image and likeness for the project.
Even if the money being raised by NFT INT isn’t funding Trump’s 2024 campaign, however, the money Trump makes through licensing his name and likeness may.
NFTs, or nonfungible tokens, are tokens on a blockchain that prove ownership of a digital asset. They are to digital goods what a deed is to a house. The first NFT collections date back to 2017, but the market exploded last year as a powerful wave of speculation drove prices up to stunning levels. The most famous collection, The Bored Ape Yacht Club, launched at around $250 and peaked in price earlier this year at $400,000 a pop.
Of course the money is going to Trump. I would guess almost all of it.
But what about the suckers who actually bought this? The Dutch tulip bubble made more sense.
*sigh*
Ayayayay. Happy Hollandaise, everybody!