New Filing Reveals Trump Earned Up to $1 Million from NFT Sales – Here’s What You Need to Know
The sales of Donald Trump’s digital trading cards have brought in close to $1 million for the 45th President of the United States.
The former US president received between $100,000 and $1,000,000 from CIC digitised, the business behind the sale of NFTs bearing digitised images of Trump, according to a filing with the US Office of Government Ethics.
The document, which was submitted as part of his personal financial report to the Federal Election Commission, also revealed that the American politician made millions of dollars through speaking engagements. All presidential contenders are required to file.
Trump is listed as the “manager, president, secretary, and treasurer” at CIC Digital LLC and CIC Ventures LLC in the document, which was made on Friday.
According to the official Trump Trading Cards website, CIC Digital LLC entered into a paid licensing deal with NFT INT LLC, the organisation in charge of the NFT project, to permit the use of Trump’s name, likeness, and picture.
According to the project’s website, the money earned from the NFTs won’t be utilised for Donald Trump’s campaign.
Known as “Trump Cards,” the former president’s collection of NFTs was published in December of the previous year.
The NFT collection includes a number of digital “cards” with images of Trump in well-known scenarios and stances, such as Trump clutching a basketball, Trump in space, and Trump as a chiselled wrestling champion.
At the time, he declared that the $99 (£81) per card, which included a magnificent ART of his life and career, “would make a great Christmas gift.”
The Polygon layer-two scaling technology, which works in tandem with the Ethereum blockchain and enables quick transactions and cheap fees, was used to mint the whole 45,000 NFT supply.
More recently, the NFT collection’s value increased as a result of the announcement that a Manhattan grand jury had decided to indict Trump.
According to on-chain data from NFT data aggregator CryptoSlam, the project has generated over $19 million in sales overall since launch.
The highest offer for a Trump NFT is currently 10 ETH, or roughly $20,000. The majority of the offers seem to be about 0.3 ETH, or roughly $630.
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Trump Made Around $200 From Truth Social
The report also revealed that Trump’s income from Trump Media & Technology Group, the organisation that runs the former president’s favourite social media network Truth Social, was less than $201.
The company’s valuation ranged from $5 million to $25 million in the filing.
Additionally, according to the filing, Trump’s 1987 autobiography “The Art of the Deal” earned him between $100,000 and $1 million.
The multibillionaire also lists eight debts totaling between $5 million and $25 million, as well as seven other mortgage obligations totaling more than $50 million each.
The filings collectively imply that Trump’s commercial assets are worth almost $1.2 billion. The businessman’s current net worth is more than $2.5 billion, according to Forbes.
