Former US President Donald Trump revealed he intends to mint a fourth round of the Trump Media and Technology’s NFT. A clear change of tune for Trump on matters Bitcoin. According to Bloomberg Businessweek, Trump is quoted saying he is looking forward to the new venture, referring to his previous collections as flops that enjoyed massive public reception.
Successful NFT Ventures
Other previous NFTs by Trump have also garnered significant interest, becoming oversubscribed and in demand.
He stated, “The whole thing sold out: 100,000 cards, and I did it three times. Now I have to do one more because the people want me to do one more. It was the most beautiful spirit I have ever touched.”
Trump sold out his previously collected works in one day, and he expects the same results with this fourth NFT.
Embracing the Crypto Industry
It is remarkable how the former US president’s attitude towards the Crypto industry has changed over the years. He went from being a critic to more optimism vis a vis Cryptocurrencies and the application of Blockchain networks.
Crypto sponsorships and donations have also become more legal. This saw Trump adopt this model which so far, is very lucrative. The FEC report in the Wall Street Journal reported that the Trump-led team received about $3m (£2.3m) in Cryptocurrency transactions, mostly in Bitcoin and Ether, out of about $331m (£260m) last quarter.
Support from the Crypto Community
Donald Trump’s fourth NFT stance towards supporting Crypto has resonated with industry leaders. Kraken co-founder Jesse Powell and Gemini co-founders Tyler and Cameron Winklevoss have supported Trump and super PACs financially and otherwise. This includes the new Trump-oriented America PAC and the pro-crypto Fairshake.
A Strategic Pivot
In an interview with Bloomberg, Trump also expressed concerns about the unique role of the American crypto industry. He shed light on the importance of maintaining a competitive edge over other nations such as China.
“If we don’t do it, China is going to pick it up, and China’s going to have it — or somebody else, but most likely China,” Trump noted.
He insisted on the need to protect the developing US Crypto industry, and he compared it to a “baby” that we should protect so that other nations do not leave Americans behind.
What Does the Future Hold?
The planned release of Trump’s fourth NFT and improved interaction with the Crypto society shows that the political class is now acknowledging the presence and potential of Blockchain. Nonetheless, one gets the impression that Trump wants to use the Crypto industry and its future developments to strengthen his campaign and attract the population of tech enthusiasts.
Increased engagement in the technology industry, including the success of prior NFT releases and current business and political concerns, explain the reason for announcement of Donald Trump’s fourth NFT collection. Still, Trump’s involvement is a clear sign of how politics is gradually intertwining with the Crypto world and being significantly influenced by it as the industry continues to develop.
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Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used for legal, tax, investment or financial advice.
