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Trump "crashes" into the crypto circle: Buy a $4653 NFT to join the dinner party, and related MEME coins soar.

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PANewsPANews2024/05/11 10:13
By:Weilin

On the evening of May 8th local time, Trump held his latest NFT dinner at the Mar-a-Lago resort in Palm Beach, Florida. Buyers who purchased at least 47 Trump "MugShot Edition" NFTs were invited to attend. During the event, meme coin TRUMP and NFT prices related to Trump surged by over 55% and doubled, respectively, in a short period of time.

On the evening of May 8th local time, the Republican candidate for the 2024 US presidential election, Donald Trump, held the latest NFT dinner at the Mar-a-Lago resort in Palm Beach, Florida. Buyers who purchased at least 47 Trump "MugShot Edition" NFTs were invited to attend, and Hong Kong actor Daniel Fung, who is enthusiastic about NFTs, also appeared at the event. During the gathering, Trump announced a strong embrace of cryptocurrency, pledging to end America's hostility towards digital currencies. This marks a significant shift from his previous criticism of cryptocurrencies.

NFT Dinner Photo

Prior to this dinner held on a recess day, according to Watcher.Guru, Trump announced that he is accepting cryptocurrency donations for his US presidential campaign. Subsequently, meme coins TRUMP and NFT prices related to Trump surged by over 55% and doubled, respectively, in a short period.

Hosting NFT Dinner to Attract High-Profile Buyers

The Trump Digital Trading Cards currently have 3 series. The first series was released in December 2022, with 45,000 cards, including images of him as a superhero, astronaut, sheriff, and a range of other fantasy characters. These NFTs are minted on Polygon, with standard cards sold at $99 each. Customers who purchased 45 cards could get a ticket to the NFT dinner. According to OpenSea data, all 45,000 NFTs were sold out in approximately 12 hours.

On April 19, 2023, the Trump team launched the second series of Trump Digital Trading Cards, maintaining the price of $99 per card, and sold out within 5 hours, generating $4.6 million in revenue, showcasing its fundraising power.

The recent dinner featured the MugShot Edition NFTs of Trump. This NFT series consists of a total of 100,000 cards, with 99,000 available for purchase at $99 each, also minted on Polygon. Buyers who purchased 47 cards in a single transaction ($4,653) could have the opportunity to dine with Trump.

For more extravagant buyers, spending nearly $10,000 to purchase 100 MugShot Edition NFT cards would grant them access to a VIP cocktail reception before the dinner, receive a unique Bitcoin-inscribed digital trading card (limited to 200 cards), and two VIP dinner tickets for the buyer and a friend to dine with Trump at the VIP table.

The images on the MugShot Edition NFT series vary, from Trump's mugshot to him wearing a cowboy hat, to a cartoonish image of Trump with lightning in hand, captioned "America's superhero." However, officials stated that these digital trading cards are not political and have no association with any political campaign.

Buyers of these mugshot NFTs will also receive a physical card with the fabric of Trump's suit when he took the mugshot. Trump's mugshot was taken on August 24, 2023, at the Fulton County Jail in Atlanta, Georgia. Prior to this, Trump was indicted on charges of extortion and other crimes. This is the first and only mugshot of a US president to date. After its release, the photo became a meme and appeared on the front pages of numerous newspapers worldwide.

"This card is not just a keepsake; it is a part of history and a testament to resilience," the official website described the physical card with suit fragments. "It symbolizes President Trump's steadfast commitment to the American dream and relentless struggle."

On May 8th, eligible NFT dinner participants received this trading card (NFT) from the official.

According to The Independent, during this dinner, when asked how to keep cryptocurrency businesses in the US, Trump emphasized his commitment to keeping them in the country. He expressed concerns about the potential relocation of cryptocurrency companies due to hostility towards the industry, stating, "If cryptocurrency leaves the US due to hostility towards cryptocurrency... well, we will stop it. We don't want that. If we are to embrace it, we must keep them here."

Trump stated that President Joe Biden does not understand what cryptocurrency is and claimed that "Democrats are very much against it," adding, "If you support cryptocurrency, you'd better vote for Trump."

Despite Trump telling a crowd in New Hampshire in January that he would never allow the creation of central bank digital currencies, calling it a "dangerous threat to freedom," it seems that the former US president is gradually accepting the world of cryptocurrency. According to Cointelegraph, when asked if people could donate to him using cryptocurrency, he replied, "If you can't, I'll make sure you can."

Meme Coin Surges by 55%, NFT Floor Price Doubles

Following a series of actions and news, according to CoinMarketCap data, the meme coin MAGA (TRUMP) related to Trump subsequently rose from $4.2 on the morning of May 9 to $6.52 on the noon of May 9, a 55% increase, and was reported at $5.48 on the morning of May 11.


As of the morning of May 11, another meme coin, Doland Tremp (TREMP), was priced at $0.652, with a 69.85% increase in 7 days. Even meme coins related to Biden were affected. On May 9, the joke meme coin Boden, intentionally misspelling the name of US President Biden, surged by 25% after Trump answered reporters' questions.

A side note is that American talk show host Jimmy Kimmel even harshly criticized collectors of Donald Trump's NFT project as "fools" and "weirdos"; however, the secondary market prices of Trump-related NFT assets have not stopped rising.

According to NFT Floor data, Trump Digital Trading Cards minted on Polygon rose from $211.56 at 10 a.m. on May 9 to $465.7 at 4 p.m. on May 9, a 120% increase. As of around 2 p.m. on May 10, the trading volume reached $42,921, with a 561.33% increase.

NFT Floor screenshot at 8 a.m. on May 11

The sales of Trump's Series 2 NFT collection are even higher than the original series, reaching 405 sales within 24 hours on May 9. However, their prices are much lower, with a floor price of around $82, lower than the initial sale price of $99.

In the past, Trump's NFT cards have had mixed results. In March 2023, the price of Trump's first series of digital trading cards NFT skyrocketed, with the highest selling price close to $1,700, due to his indictment in a Manhattan district attorney's investigation for allegedly using 2016 campaign funds to pay hush money to Stormy Daniels. However, shortly after the release of Trump's card second series on April 18, 2023, its value rapidly declined.

It is worth noting that, according to the official website, the Trump cards are "not owned, managed, or controlled by Trump" but are owned by NFT INT LLC. Trump has licensed his image to this company, which pays a portion of the profits to a company owned by Trump. According to his financial disclosures, in 2023, Trump received between $500,000 and $1 million in income from licensing his image for Trump card NFTs.

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Disclaimer: everything in the article represents the author's point of view and has nothing to do with this platform. This article is not intended to be used as a reference for making investment decisions.

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