Former US President Donald Trump has announced the launch of a limited NFT collection on the Bitcoin network. The collection, which will be available through the Ordinals protocol, aims to expand the reach of Trump’s non-fungible tokens (NFTs). The new collection, known as the Mugshot Edition, is exclusively available to the first 200 buyers of the previously launched Mugshot Edition NFTs. Each NFT is priced at $99 and transactions will be conducted in Wrapped Ether ($WETH). Currently, only 99 NFTs from the Mugshot Edition are remaining.
The concept of Ordinals in the context of Bitcoin involves inscribing unique, non-fungible data onto individual satoshis, the smallest unit of Bitcoin. This process transforms these satoshis into one-of-a-kind digital artifacts, similar to NFTs on other blockchain platforms. Each satoshi can be inscribed with content like images, text, or other data, making it distinct and collectible.
Clearing any misconception, the firm behind the NFT collection emphasized that these NFTs are purely for collection purposes. They do not serve as investment assets or political endorsements. Collectors will be able to claim their Ordinals inscriptions later on Magic Eden on Bitcoin, while trading of the Mugshot Edition NFTs will be on hold until December 31, 2024.
The Mugshot Edition features a unique theme showcasing significant moments from Trump’s life and career, including a photo from his arrest in late August. Additionally, the collection offers exclusive opportunities for supporters. Buyers who acquire at least 47 cards will be eligible for a dinner with Trump at Mar-a-Lago and will receive a piece of the suit he wore during his arrest. Notably, some NFTs in this collection may even include Trump’s signature.
This is not the first foray into the NFT space for Donald Trump. He has previously launched two other NFT collections, both of which sold out quickly and generated significant revenue. A report by the legal advocacy group Citizens for Responsibility and Ethics in Washington revealed that Trump’s Ethereum holdings, largely derived from these NFT sales, were valued at $5 million.
With the limited release of the Mugshot Edition NFT collection on the Bitcoin network, Trump aims to further expand his presence in the growing world of non-fungible tokens. As the popularity of NFTs continues to rise, Trump’s venture into this space showcases his ability to leverage digital collectibles to engage with supporters and generate substantial revenue.
Overall, the former president’s move into the NFT market signifies his recognition of the potential and influence of blockchain technology, particularly within the realm of collectibles. As NFTs gain further traction, it remains to be seen how this evolving market will continue to shape the intersection of digital assets, art, and celebrity culture.
