Donald Trump, the former President of the United States, may have earned anywhere between $100,000 to $1 million from the sale of his 45,000-piece collection of NFTs, as per the latest financial disclosure published by the Citizens for Responsibility and Ethics in Washington (CREW).
According to CREW’s report, the NFTs were launched on December 15, 2022, and showcased Trump’s life and presidential career.
The collection was initially launched at $99 per piece, with a limit of 100 pieces per person. The buyers had the chance to win select prizes, such as a VIP dinner with the ex-president.
Donald Trump’s Collection Sold Out in Less Than a Day
Although Trump’s NFT launch was criticized on social media for featuring him in bold or extroverted outfits, it was widely popular among the crypto community and his fans. All 45,000 pieces of the collection were sold out in less than a day.
Trump stated that the funds from this collection had nothing to do with any political campaigns, and he pocketed a significant amount thanks to his entry into the NFT market, which is for his personal use.
NFT INT LLC sold Trump’s cards, using his image for the sale of the digital art through a paid licensing agreement with CIC Digital LLC. Trump declared income between half a million to one million dollars from CIC Digital LLC.
The NFTs promoted different perks, including exclusive in-person meetings with the former president, all-expenses-paid trips, video calls, autographs, and various other rewards. However, it is unknown whether the company responsible for NFT sales fulfilled the promised rewards mentioned on the collection’s official website.
Interest in Trump’s NFTs Continues to Grow
As per a report by CryptoPotato, interest in Donald Trump’s NFTs continues to escalate even after his arrest on accusations of 34 offenses related to commercial fraud for secret payments to former porn actress Stormy Daniels. Just 12 hours after his arrest, sales of Trump’s NFTs increased exponentially.
Despite labeling the lawsuit as an “insult to our country,” many individuals were successful in speculating on the prices of Trump’s NFTs, earning significant returns on their investments.
During the time surrounding Trump’s arrest, one collector sold a card featuring Trump holding a rifle, which was purchased for less than $100, for 0.697 ETH ($1,333 at that time). This figure represents a profit of over 1,000%, which is a considerable return on investment for one of the thousands of cards released.