Benzinga - by Chris Katje, Benzinga Staff Writer.
Former President Donald Trump has launched three non-fungible token collections, with the first one dating back to December 2022.
The latest collection, which featured the ex-president’s widely circulated mugshot, offered unique benefits to purchasers of specific quantities. On Thursday, an additional exclusive advantage was unveiled, following the third collection’s failure to sell out.
What Happened: After launching NFT collections in December 2022 and April 2023, the former president returned with a third collection called "The MugShot Edition," taking advantage of the viral mugshot of the former president.
For the first time, the third collection offered physical editions of the cards. Anyone purchasing 47 cards would receive a physical card incorporating a piece of the suit Trump wore in the viral mug shot photo from his 2023 arrest in Georgia.
With the third collection not selling out like the first two, a new perk could increase sales volume.
Trump Digital Trading Cards announced the first ever Bitcoin Ordinals for the collection. Consumers who buy 100 Trump Digital Trading Cards from the Mugshot Edition will get a "one-of-one Trump Digital Trading Card."
"Your One-of-One card will be minted as a Bitcoin Ordinal," a tweet said.
Bitcoin Ordinals are similar to NFTs and are a way to store text, images and other data on the Bitcoin (CRYPTO: BTC) blockchain. Ordinals use satoshis, which are the smallest denomination on the Bitcoin blockchain. Each Satoshi has a serial number related to the order it was originally mined.
There will only be 200 of the 1/1 “Trump Digital Trading Cards: MugShot Edition” Bitcoin Ordinals. According to the company, there are only 99 left to purchase, meaning 101 people likely already bought 100 of the MugShot Edition NFTs previously. People who previously bought 100 NFTs in the new collection will get an Ordinal.
Instructions on how to claim the Bitcoin Ordinal will be provided at a later date, and Trump Digital Trading Cards will use Magic Eden for the process.
News of the Trump Bitcoin Ordinals comes with the president having a mixed record with the leading cryptocurrency.
"I am not a fan of Bitcoin and other cryptocurrencies, which are not money, and whose value is highly volatile and based on thin air," Trump tweeted on July 11, 2019.
Related Link: ‘It’s Literally Cards Against Humanity’: Kimmel, Fallon, Hamill And More React To Donald Trump NFTs
Why It's Important: The NFT collections were minted on the Polygon (CRYPTO: MATIC) network and users were able to pay for the NFTs with Ethereum (CRYPTO: ETH) or a credit card. Each collection had a price point of $99 for the NFTs.
The first two collections had 45,000 and 47,000 NFTs, respectively, references to Trump being the 45th president of the United States and running to become the 47th president in the 2024 election. The terms and conditions for the third collection show a size of 100,000 NFTs. Data from OpenSea shows 47,479 NFTs sold at the time of writing.
Similar to the first NFT collection, people who buy a certain number of NFTs in the third collection also get invited to a dinner gala with the former president at the Mar-a-Lago resort.
There is a maximum of 2,024 physical suit piece cards available, with 25 of the cards autographed at random by Trump.
Collectors who purchase 100 NFTs will receive two tickets to the dinner gal and two physical cards, with one having a piece of the suit and a second physical card having a piece of the suit and tie worn in the mug shot.
The terms and conditions say the new “Trump Digital Trading Cards: MugShot Edition” can not be transferred until Dec. 31, 2024, which could cut down on demand for the third collection.
The first collection has been volatile around many Trump events, including his indictments, arrests and court dates. After Trump won the Iowa caucus and took an early lead in the 2024 Republican nomination, the floor price increased.
Price Action: Trump Digital Trading Cards have a floor price of 0.315 Ethereum, or around $766. The second collection has a floor price of 0.0412 ETH, or around $100.
Read Next: If You Invested $1,000 In Trump NFTs, Here’s How Much You Made In A Year (And Did You Beat The S&P 500?)
Photo: Mug shot courtesy Fulton County Sheriff
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.