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- Trump launched 160 new NFT cards on the Bitcoin network and will release 40 more cards soon.
- The overall NFT market had $8.8 billion in sales during 2024, but 98% of collections saw minimal trading, and most new releases lost value quickly after the launch.
Former President Donald Trump has expanded his digital asset portfolio with a new NFT collection on the Bitcoin network, marking his first venture into Bitcoin-based digital collectibles. Through the Ordinals protocol, the “Trump Bitcoin Digital Trading Cards” collection was released to the public with 160 cards and 40 more planned for future release.
New Collection Features and Performance
A maximum card count is set at 100 for each unique wallet, though users don’t have to purchase many different cards at once. The collection is available on the Magic Eden NFT marketplace and consists of the “Mugshot Edition” cards, which offer extra bonuses to people who buy 100 cards overall. Early signs show promise, with 29% of the collection already minted. Purchasers may purchase the cards by linking their Bitcoin wallets to the marketplace platform.
This new release is not Trump’s first NFT collection. The “America First” collection from August 2024 was released, with benefits like golden sneakers and dining with Trump. However, that collection has had very low trading activity since its creation.
NFT Market Overview and Industry Trends
The broader NFT market proved its staying power in 2024, recording total sales of $8.8 billion, surpassing 2023 figures. Ethereum and Bitcoin led the market, each generating $3.1 billion in sales, while Solana secured the third position. Some of the successes involve Pudgy Penguins, which saw a total sale of over $115 million.
Advancement remained evident throughout the year as various platforms, such as Magic Eden and Pudgy Penguins, rolled out their tokens. These innovations suggest that there continue to be dynamics in the NFT sector, with incumbents venturing into new ways of monetizing the value of their platforms.
However, the market still faces significant challenges. This is evident at Kraken, as the company decided to close its NFT marketplace in November 2024, with the final pull-out announced for February 2025. Market saturation is still a problem; 98% of collections experience very little trading. They are worst off at new product releases, where only 0.2% can turn profitable, and most collections lose more than half their value shortly after launch.
Previous speculative trading cases also indicate that trading is moving to more mature forms, where the focus is not on great short-term profits. At the time of writing, the Bitcoin price stood at $93,244.87, reflecting the broader cryptocurrency market conditions that influence NFT trading dynamics.
Nevertheless, Trump’s new NFT platform is right for this collectible digital asset market. Though previous celebrity-endorsed collections have been inconsistent, the integration of Bitcoin’s Ordinals protocol provides a novel way of asset dissemination. The collection’s performance may provide insights into the evolving relationship between public figures and blockchain-based collectibles.
