Donald Trump to Launch Fourth NFT Collection Amid Growing Crypto Donations
Donald Trump – Former US President Donald Trump has revealed plans to launch his fourth non-fungible token (NFT) collection. This move underscores Trump’s increasing involvement in the Web3 space and marks a significant shift in his stance on digital currencies.
Success of Previous NFT Ventures
In a recent interview with Bloomberg, Trump expressed surprise at the overwhelming success of his previous NFT ventures. “I did things like NFTs and, you know, stuff. And I noticed that 80% of the money was paid in crypto. It was incredible,” Trump stated. He hinted at the prospect of a fourth collection during a gala dinner for his mugshot NFT holders at Mar-a-Lago in May but did not provide further details or a timeline.
Initial NFT Launch and Industry Support
Trump’s initial foray into NFTs began in December 2022 with the launch of his “Trump digital trading cards,” which quickly sold out, raising approximately 648 Ethereum (ETH), equivalent to roughly $785,000 at the time. His venture into NFTs has garnered support from notable figures in the crypto space, including Marc Andreessen and Ben Horowitz, co-founders of the venture capital firm Andreessen Horowitz (a16z).
Horowitz voiced his support for Trump in his latest podcast episode, citing Trump’s favorable policies for the tech and startup ecosystem as a decisive factor.
But the future of our business, the future of new technology, and the future of America is literally at stake. So here we are. And for a little tech, we think Donald Trump is actually the right choice,
Horowitz
Crypto Donations Fuel Trump’s Campaign
This growing support has translated into substantial financial backing. The Wall Street Journal recently reported that Trump’s campaign earned $3 million in crypto donations during the second quarter. These contributions are part of the broader $331 million raised across various fundraising arms.
Two of Trump’s joint fundraising committees recorded the donations, primarily made in Bitcoin and Ethereum, in federal campaign filings. The influx of crypto donations can be attributed to several prominent individuals within the digital asset industry.
High-Profile Donors and Grassroots Support
Cameron and Tyler Winklevoss, co-founders of the Gemini crypto exchange, collectively donated $1.6 million in Bitcoin. Additionally, Jesse Powell, co-founder of the Kraken exchange, contributed $845,000 worth of Ethereum.
Beyond these high-profile contributions, the donations reflected support from everyday individuals. A Michigan pizzeria owner and a ticket-vending machine agent for the Long Island Rail Road were among the many who made smaller contributions in cryptocurrency.
Trump’s Evolving Stance on Crypto
Trump’s current stance on crypto represents a significant departure from his earlier views. During his previous presidency, he was highly critical of Bitcoin and other digital currencies, labeling them “not money” and “fraud.”
However, his recent actions and statements suggest a notable shift. BeInCrypto reported that earlier in June, Trump even stated that he wants all Bitcoin to be made in the US. “If we don’t do it, China is going to pick it up, and China’s going to have it—or somebody else. […] So you have to look at it—what I want, again, is what is good for the country. So we have a good foundation. […] But I don’t want to be responsible for allowing another country to take over this sphere,” Trump explained.
Industry Reactions and Future Implications
Despite Trump’s newfound support for crypto, not everyone in the industry agrees with his vision. Some experts argue that making Bitcoin in the US could create jurisdictional risks, potentially compromising its decentralized nature. Additionally, there are questions about the sincerity of Trump’s support, with some viewing his actions as politically motivated rather than a genuine endorsement of the technology.
FAQs on Donald Trump’s Fourth NFT Collection and Crypto Donations
What is Donald Trump’s new NFT collection about?
Donald Trump is planning to launch his fourth non-fungible token (NFT) collection, building on the success of his previous NFT ventures. While specific details and the timeline for this new collection have not been disclosed, it is expected to include unique digital collectibles similar to his earlier “Trump digital trading cards.”
How successful were Trump’s previous NFT collections?
Trump’s previous NFT collections were highly successful. His initial launch in December 2022 sold out quickly, raising approximately 648 Ethereum (ETH), which was roughly $785,000 at that time. This success has encouraged him to continue engaging with the NFT market.
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