On August 27, former U.S. President Donald Trump released his fourth series of non-fungible tokens (NFTs), titled “Series 4: The America First Collection.” The collection debuted on the Polygon network and has already seen substantial activity, with over 22,000 sales in just one day, totaling more than $2.17 million.
Each NFT was priced at $99, and with a possible supply of 360,000 cards, the potential revenue could exceed $35 million if all were sold.
Despite this impressive start, the collection has faced criticism. Only 6% of the total supply has been minted so far. This is a notable decrease compared to Trump’s previous NFT collections, which sold out much faster. The latest collection’s limited initial uptake reflects broader trends in the NFT market, which has seen a downturn recently.
Trump’s collection features various images of him in unique poses and costumes, similar to his earlier releases. However, these NFTs cannot be resold on secondary markets until January 31, 2025, a restriction that mirrors the limitations imposed on his previous collections. This delay might affect the collection’s overall market performance.
Trump has shown growing enthusiasm for the crypto community, even accepting cryptocurrency donations for his presidential campaign and engaging with crypto executives. However, the new NFT project’s sales figures highlight a stark contrast to the rapid success of his initial collections.
In a broader context, the collection’s early performance is significant considering the current state of the NFT market. For comparison, the precious CryptoPunks collection generated only $754,000 in sales over the same period. Trump’s latest NFTs, despite their slower start, still represent a noteworthy financial achievement and reflect ongoing interest in digital collectibles.
Adding to the intrigue, NFT marketplace OpenSea, where Trump’s NFTs are listed, recently received a Wells Notice from the SEC, which suggests the agency may pursue legal action over NFTs being classified as securities.
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