Former U.S. President Donald Trump is set to launch his fourth NFT collection following the success of his previous three, all of which sold out within a day. In a recent interview with Bloomberg Businessweek, Trump mentioned that there has been a high demand for another collection due to their “unbelievable spirit.”
During a gala event for holders of his mugshot NFTs at Mar-a-Lago in May, Trump hinted at the possibility of a fourth collection but did not confirm anything at that time. He emphasized the importance of supply and demand in the success of his previous collections but acknowledged that market conditions are subject to change.
Trump’s foray into the NFT world began in December 2022 with the release of his “Trump digital trading cards,” which quickly sold out and raised approximately 648 Ethereum, equivalent to around $785,000 at the time. In his interview, Trump also shared his evolving perspective on cryptocurrency, highlighting his interactions with key figures in the industry whom he described as “top-flight people.”
Despite initial skepticism towards crypto, Trump has become more supportive of the industry, expressing concerns about potential dominance by China in the crypto market if the U.S. does not take the lead. He also noted a shift in attitude among traditional banking executives, citing the example of Jamie Dimon, CEO of JP Morgan, who has softened his stance on crypto after previously making negative comments.
Notably, prominent figures in the crypto industry, including Kraken co-founder Jesse Powell and Gemini co-founders Tyler and Cameron Winklevoss, have backed Trump’s campaign, contributing significant amounts to his reelection efforts and associated super PACs. Trump’s campaign started accepting crypto donations in May, with reports indicating that around $3 million of the total $331 million raised last quarter was in cryptocurrency.
In a recent development, Trump announced that pro-Bitcoin senator J.D. Vance (R-Ohio) would be his running mate. Vance has been actively involved in advocating for crypto-friendly legislation, aiming to promote wider adoption of digital assets.
Overall, Trump’s continued engagement with the crypto industry and the support he has received from key players reflect a growing intersection between politics and cryptocurrency. As the landscape of digital assets continues to evolve, the involvement of political figures like Trump and Vance could have significant implications for the future of crypto regulation and adoption.