Source: blockchain.news
Former US President Donald Trump has made significant inroads into the NFT market, as revealed in a recent financial disclosure form filed with the Office of Government Ethics. The disclosure, which reveals a staggering $1 billion in profit from various sources, highlights Trump’s ownership of CIC Digital LLC. This company acquires license fees for using the Trump persona on non-fungible tokens (NFTs) and owns a crypto wallet valued between $250,000 and $500,000.
Two sets of digital trading cards have been released as a result of Trump’s entry into the NFT market, and both have been highly influential. The first season, which premiered in December, sold out on the first day, a feat also accomplished by the second season. Despite a 60% drop in price from the original set following the introduction of the second series, “Trump Digital Trading Cards” remain a hot item on the NFT Opensea market.
The second series, selling for $99 each on the Polygon blockchain, generated over $4.65 million in revenue with 47,000 assets in the collection. The sales, made using wrapped Ether transactions, brought about $2 million in new funds to the Polygon network. This success came despite a downturn in the NFT market, with Trump’s NFTs seeing a surge in sales after his impeachment earlier this year.
In addition to his NFT ventures, Trump’s media activities include an ownership stake in Trump Media and Technology Group, valued between $5 million and $25 million. The group’s sources of income include more than $1 million in ad revenue from a conservative live streaming site.
Trump’s various sources of income also spill over into more traditional avenues. For speaking engagements, he claimed to have received $12.6 million in fees, including $1.4 million from a live tour with an American journalist. He also revealed big profits from the sale of his Washington hotel, which totaled $284.5 million, and from the management of his golf club in Dubai, which brought him more than $1 million.
As the world of digital assets continues to evolve, Trump’s involvement in the NFT market underscores the growing intersection of politics, celebrities, and cryptocurrency. With its digital trading cards making waves in the NFT space, it remains to be seen how this company will influence its financial activities in the future.
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