Former President Donald Trump Earns Up to $1 Million from NFT Sales
Former President Donald Trump has reportedly earned between $100,001 to $1 million through the sale of non-fungible tokens (NFTs) bearing his likeness. The records from the US Government Ethics Office show that the income was generated through a licensing agreement between Trump’s company, CIC Digital LLC, and the creator of the NFT collection, INT LLC.
The digital portrait collection of the former president was released in December 2022 and all 45,000 copies were sold out within a day. The collection’s value skyrocketed in the weeks leading up to the news of Trump’s indictment in New York.
According to data from NFT aggregator tool CryptoSlam, the project has generated over $19 million in revenue since its inception. However, over the past week, the number of wallets holding Trump NFTs has decreased by 13% to 208.
Data from OpenSea shows that 65% of people hold only one NFT, while 23% hold between two to three NFTs. Some wallets contain over 100 NFTs. Additionally, 1,000 NFTs were not made available to the public and are being held in a secure Gnosis Safe wallet, a multi-signature smart contract wallet that requires multiple users to approve.
While the official website claims that no money from the collection was directly transferred to Trump’s campaign, the records indicate that he could still earn a portion of the income as personal profit.
The sale of NFTs has become an increasingly popular way for artists and celebrities to monetize their digital creations. However, it has also been criticized for its environmental impact as NFTs are created and traded on blockchain networks, which consume a significant amount of energy.
Trump’s NFT collection has generated significant interest and revenue, despite controversy surrounding the former president’s legal troubles. As the popularity of NFTs continues to grow, it will be interesting to see how they are used as a tool for monetization and investment in the future.
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