According to crypto sources, recently launched by former US President Donald Trump, his new NFT collection, “America First,” has reportedly drawn over $2.2 million. Selling 2.2 million within just days of its release has sparked some concerns and criticisms about how it achieved this feat. The former US President’s involvement in the crypto market remains a subject of controversy and criticism, with some claiming that he invested in cryptocurrencies to profit from his political persona.
America’s 4th NFT Collection: A Controversial Launch
On August 27, former US President Donald Trump released his fourth NFT collection, featuring trading cards named “America First.” Each digital card is priced at $99, offering buyers a unique opportunity: an invitation to a gala dinner with the former President of the United States. According to Polygonscan data, as of August 29, this collection had been minted 22,360 times and was owned by 1,210 people.
The rapid sales have led to estimated earnings of approximately $2.2 million within a few days. This latest addition fits perfectly with Trump’s long-term plan to continue dominating the cryptocurrency space. On July 17, Trump hinted at the release of this new collection, emphasizing the necessity of US dominance in the field of cryptocurrencies.
He noted that these industries are very promising globally and that if the US did not invest in them, China might take the lead. Insider’s reports suggest that the total supply of 360,000 NFTs in the “America First” collection gives the project the capacity to earn up to $35 million if all tokens are sold. This marks a significant turn in Trump’s quest to associate his political establishment with the emerging crypto space.
Community Reaction: Accusations of a “Grift”
However, like any other Trump project – or any deal in general – Trump’s NFT business has not gone unnoticed and has been controversy-free. Several members of the virtual community have raised an eyebrow over the moral implications of Trump venturing into digital art again.
Advertisement Banner
Referring to the new collection, one user on the social media platform X said, “I’m feeling more and more like I’m being scammed, huh, about the former president.” Another commenter shared this opinion, calling the venture a “scam” and sarcastically pointing out that, for a change, people can get shoes after buying a specific quantity of NFTs. Such reactions echo a more general doubt about Trump’s involvement with NFTs.
His critics want to know whether attempting to make money through digital resources using his political influence is not a clear indication that he is supporting blockchain only for profit.
SEC Involvement: Timing Raises Questions
Adding to this confusion, Trump’s fourth NFT drop has coincided with market concerns over more general NFT sales. On August 28, the chief executive officer of OpenSea, one of the largest NFT marketplaces, announced that the company received a Wells notice from the SEC. The notice implied that some of the NFTs listed on the platform could be unregistered security offerings, potentially raising legal and regulatory issues. The timing of this notice has generated buzz among crypto enthusiasts, especially considering it was posted just a day after Trump’s NFT release.
Some people may suggest that the SEC’s action might be linked to Trump’s America First collection in some way. As noted by influential crypto personality Udi Wertheimer, the timing of the events could indicate a connection to the former president and his NFT initiatives. Another prominent NFT collector, nicknamed “Franklin,” suggested that Trump’s latest drop may have a negative impact on the NFT market, pointing out that OpenSea attracted regulatory attention after the collection’s release.
The Future of Trump’s NFT Collection
Although Donald Trump has recently released a new collection of NFTs, which have already achieved impressive sales results, negative comments and potential legal challenges suggest that the NFT market is far more complex and ambiguous. Proponents of Trump believe that his involvement in NFTs and related assets could drive industry growth and maintain US relevance. Conversely, opponents argue that such projects may be primarily financially motivated and lack genuine interest in the technology.
As Trump’s involvement in the digital asset space is expected to continue amidst market expansion, his activities will remain contentious. The outcome of the America First NFT collection partially demonstrates that the former president can mobilize his supporters for new campaigns. However, the criticism and regulatory attention surrounding Trump’s crypto activities indicate that challenging times may lie ahead for his crypto endeavors.
End Note on Trump 4th NFT Collection
People have shown both excitement and apathy towards Donald Trump’s involvement with NFTs. Nevertheless, although his latest America First collection has been more successful in terms of sales, it is not free from critics who consider it simply a financial ‘scam.’ The presence of regulatory authorities, such as the SEC, only complicates Trump’s NFT experience. As new digital assets are launched in the market, the extent of Trump’s efforts to influence the crypto market and his political image remains unknown. Keep following TheBITJournal for latest crypto updates and developments on Trump NFT collection.
The price predictions and financial analysis presented on this website are for informational purposes only and do not constitute financial, investment, or trading advice. While we strive to provide accurate and up-to-date information, the volatile nature of cryptocurrency markets means that prices can fluctuate significantly and unpredictably.
You should conduct your own research and consult with a qualified financial advisor before making any investment decisions. The Bit Journal does not guarantee the accuracy, completeness, or reliability of any information provided in the price predictions, and we will not be held liable for any losses incurred as a result of relying on this information.
Investing in cryptocurrencies carries risks, including the risk of significant losses. Always invest responsibly and within your means.
