Former United States President Donald Trump may have earned between $100,000 and $1 million from the sale of his 45,000-piece NFT collection, according to data from his latest financial disclosure published by watchdog group “Citizens for Responsibility and Ethics in Washington” (CREW).
CREW reports that Trump may have made the aforementioned amount from the sale of the NFTs, which were launched on December 15, 2022, and showcased his life and presidential career.
Trump’s collection was launched at a price of $99 each, with sales limited to a maximum of 100 pieces per person. Buyers had the chance to win select prizes, such as a VIP dinner with the former president.
Although the NFT launch was widely criticized on social media for featuring the former president in somewhat bold or extroverted outfits, the truth is that it was well-received by the crypto community and his fans, as all 45,000 pieces sold out in less than a day.
According to Trump, the funds from this collection had nothing to do with any political campaign, so the former president pocketed a significant sum thanks to his foray into NFTs, and they are for his personal use.
NFT INT LLC, the company responsible for selling Trump’s cards, used his image for the sale of the digital art through a paid licensing agreement with CIC Digital LLC. Trump declared an income between half a million and one million dollars from CIC Digital LLC.
The NFTs promoted different perks, like exclusive in-person meetings with the former president, all-expenses-paid trips, video calls, autographs, and many other rewards; however, it is unknown whether the company responsible for selling the NFTs has fulfilled to deliver the prizes promised on the collection’s official website.
As recently reported by CryptoPotato, interest in Donald Trump’s NFTs continues to rise. Just 12 hours after his arrest on accusations of 34 offenses related to commercial fraud for secret payments to former porn actress Stormy Daniels, sales of his NFTs increased exponentially.
Although Trump described the lawsuit as an “insult to our country,” many users were able to take advantage of the news of his impeachment to speculate on the price of the NFTs, earning considerable returns on their investment.
Price floor of the Trump Digital Trading Cards. Image: NFT Price Floor
During those moments of intrigue surrounding the former president’s arrest, one collector sold a card purchased for less than $100, featuring Trump holding a rifle, for 0.697 ETH ($1,333 at that time). This figure represents a profit of over 1,000%. Not bad for one of the thousands of cards released.
The post Donald Trump Reportedly Earned Up to $1 Million From His Latest NFT Collection appeared first on CryptoPotato.
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