Using the Ordinals protocol, Donald Trump started the “Trump Bitcoin Digital Trading Cards” NFT collection on the Bitcoin network.
Donald Trump has used the Ordinals protocol on the Bitcoin network to publish his new NFT collection, “Trump Bitcoin Digital Trading Cards.” There will eventually be 200 cards in this collection, which starts with 160 pieces. By connecting their Bitcoin wallet to the Magic Eden website, buyers may purchase these cards and get access to the “Mugshot Edition,” which provides exclusive rewards to customers who purchase 100 cards.
The President is not new to the NFT field, but this launch is his first foray into the Bitcoin NFT business. He unveiled the “America First” edition of the “Trump Digital Trading Cards” series in 2024, which came with perks like lunches with the billionaire and shoes with a theme. That series did not see a lot of trade activity, despite early excitement.
After experiencing a difficult period of oversaturation during which 98% of collections failed to produce meaningful trading activity, the NFT market has gradually and partly recovered. Just a tiny portion of newly released products turned a profit. With $3.1 billion in sales apiece, Bitcoin and Ethereum led the market in 2024, when total NFT sales reached $8.8 billion. The value losses that many collections experience soon after their debut, however, have not been sufficiently offset by this recovery.
In an effort to broaden the market, sites such as Magic Eden and collections like Pudgy Penguins are now introducing their own tokens. Furthermore, one of the market’s most powerful companies, OpenSea, is anticipated to introduce a token in 2025.Trump’s latest gathering on the Bitcoin network, however, may be an effort to take advantage of the technology’s tenacity in the NFT market. 31% of the collection had already been struck at the time this article was written, demonstrating a high level of early interest. It is unclear, however, whether this series can continue to gain traction in a market that is still dealing with fundamental issues.
Notably, the popular exchange Kraken closed its NFT marketplace to concentrate on other initiatives, allowing customers to withdraw their funds until February 2025.
