Donald Trump Launches “Trump Bitcoin Digital Trading Cards” NFT Collection
Donald Trump has launched the "Trump Bitcoin Digital Trading Cards" NFT collection on the Bitcoin network via the Ordinals protocol. Key details include:
- The initial release consists of 160 cards, with a total of 200 planned.
- Buyers can claim 100 cards from the "Mugshot Edition" through Magic Eden after linking their Bitcoin wallet.
- This marks Trump's first NFT project on Bitcoin, following previous collections like the "Trump Digital Trading Cards."
Early interest appears positive, with 29% of the cards minted. The NFT market in 2024 is evolving, with Ethereum and Bitcoin leading in sales at $3.1 billion each, contributing to an overall market total of $8.8 billion, up by $100 million year-over-year.
Challenges persist in the NFT sector, including:
- 98% of collections show minimal trading activity.
- Only 0.2% of new projects are profitable.
- Most collections lose over half their value shortly after release.
Leading platforms like Magic Eden and projects such as Pudgy Penguins continue to innovate, with Pudgy Penguins generating $115 million in sales. Conversely, Kraken will close its NFT marketplace by November 2024, allowing users until February 27, 2025, to withdraw assets.
The late 2024 NFT market shows signs of stabilization despite declining speculative trading. Trump's new venture may signify a strategic pivot towards leveraging Bitcoin's growing influence within the NFT space, though its long-term success remains uncertain.