Donald Trump’s NFT Success Unveils Former President’s Crypto Ventures

Former U.S. President Donald Trump has made significant strides in the NFT market, as revealed in a recent financial disclosure form submitted to the Office of Government Ethics. The disclosure, which unveils a staggering $1 billion in earnings from various sources, highlights Trump’s ownership of CIC Digital LLC. This company acquires licensing payments for using Trump’s persona on nonfungible tokens (NFTs) and holds a crypto wallet valued between $250,000 to $500,000.

Two sets of digital trading cards have been released as a result of Trump’s entry into the NFT market, and both have had a big influence. The first season, which debuted in December, sold out on the first day, a feat that the second season also accomplished. Despite a 60% drop in the price of the original collection following the unveiling of the second series, the “Trump Digital Trading Cards” have remained a hot commodity on the NFT marketplace Opensea.

The second series, sold for $99 each on the Polygon blockchain, generated over $4.65 million in revenue with 47,000 assets in the collection. The sales, conducted by wrapped Ether transactions, brought around $2 million worth of new funds into the Polygon network. This success came despite a downturn in the NFT market, with Trump’s NFTs experiencing a spike in sales after his indictment earlier this year.

In addition to his NFT ventures, Trump’s media pursuits include an ownership stake in Trump Media and Technology Group, valued between $5 million and $25 million. The group’s revenue streams include over $1 million in advertising revenue from a conservative live-streaming site.

Trump’s diverse income sources also extend to more traditional avenues. For speaking engagements, he claimed getting $12.6 million in fees, including $1.4 million from a live tour with an American journalist. He also disclosed large earnings from the sale of his Washington hotel, which totaled $284.5 million, and from the administration of his Dubai golf club, which brought him over $1 million.

As the world of digital assets continues to evolve, Trump’s involvement in the NFT market underscores the growing intersection of politics, celebrity, and cryptocurrency. With his digital trading cards making waves in the NFT space, it remains to be seen how this venture will influence his financial pursuits moving forward.

Image source: Shutterstock


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Bitcoin NFTs to Hit $4.5B Market Cap

 Galaxy Digital’s research unit has predicted that the Bitcoin nonfungible token (NFT) market could reach a $4.5 billion market cap by March 2025 based on the current growth rate and infrastructure of Ethereum’s NFT market. This is due to the emergence of a native on-chain ecosystem for NFTs on Bitcoin, which was not possible before the launch of the Ordinals protocol in late January.

Bitcoin NFTs, also known as Ordinals, allow users to inscribe data such as images, PDFs, video, and audio onto individual satoshis, each representing 0.00000001 Bitcoin (BTC). The market for Bitcoin NFTs has attracted significant attention since the launch of the Ordinals protocol, with NFT giants such as Yuga Labs jumping in on the hype. On February 28, the $4 billion firm behind the Bored Ape Yacht Club announced a Bitcoin-based NFT project dubbed “TwelveFold” in recognition of the Ordinals movement.

Galaxy researchers analyzed the potential growth of Bitcoin NFTs in a new report published on March 3. The report provided three market cap predictions based on the firm’s analysis, covering bear, base, and bull case scenarios. The baseline analysis predicted that if Bitcoin NFTs can expand to mainstream NFT culture like profile pictures, memes, and utility projects, the market capitalization should increase to $4.5 billion.

The researchers also noted that the projection of $4.5 billion is based on the rapid development in inscription awareness coupled with the marketplace/wallet infrastructure already out today. In a bear case scenario, Galaxy estimated that Bitcoin NFTs can still reach a market cap of $1.5 billion based on the current level of interest and supporting infrastructure. On the bullish side of things, Galaxy researchers estimate that the Bitcoin NFT market could reach around $10 billion if it provides strong competition to Ethereum NFTs while providing unique use cases.

The report highlighted the significance and utility of Bitcoin NFTs, noting that the addition of sizable data storage with strong availability assurances opens up a variety of use cases, including new types of decentralized software or Bitcoin scaling techniques. Even the NFT use case alone has the potential to dramatically widen the scope of Bitcoin’s cultural impact.

As of the report’s publication, more than 250,000 Ordinals have hit the market, indicating the growing interest and adoption of Bitcoin NFTs. With the emergence of a native on-chain ecosystem for NFTs on Bitcoin, it will be interesting to see how the market evolves and whether it can compete with Ethereum’s NFT market.


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French startup brings vintage vines to the NFT market

Many exciting developments are coming to the space of nonfungible tokens, or NFTs, ranging from Metaverse NFTs to fantasy soccer digital collectible cards and up to monster-battle NFT games. In fact, Cointelegraph Research predicts NFT sales will hit a record high of $17.7 billion this year.

But one French startup is taking more of an ambitious approach with wine NFTs. In an exclusive interview with Cointelegraph, Samuel Balthazard and Yacin Kharroubi, the chief executive officer and chief product officer of World Wide Wines, respectively, discussed the logistics of making French wine available on the blockchain. Samuel is the descendant of the family operating the Château du Rouët vinery in Provence, which has existed since 1840. The project itself is built on the Elrond network. 

Cointelegraph: A bottle of wine will cost differently, for example, in France than in China due to difference in taxes and customs duties. So what’s the setup here with regards to such payments?

Samuel Balthazard: So, for the system, for the taxes, we have created a token named GRAPES. And when you buy an NFT, you stake some token in exchange for the permit to have the bottle. Then, when you want to take the bottle back [delivered], we use a system to know if there [are] enough GRAPES based on your country. For example, if you are in China [where the import taxes are high], you need to have more GRAPES tokens to pay the taxes. If you are in France, you are supposed to need fewer tokens.

CT: So, where are you guys in terms of product development? Are you guys already selling these NFTs or just building like the prototypes?

Yacin Kharroubi: So yeah, actually, we have been building this project for several months. But, we made the official announcement 10 days ago. So now, we have created all of the design We are going to launch the first drop of 300 NFTs, and we have already managed some partnerships with NFT collections and wineries for the moment.

CT: How will you guys ensure the safety and security of the bottles as there is an off-chain risk? 

SB and YK: Yeah. For that, behind every NFT, there are three real bottles of wine because of the safety and the security. For these three bottles, we put them in three different vineyards, like we want to work at a cloud system, but with bottles.

Securing each NFT in a three-bottle setup is the first step of the process because we want to assure that if one bottle is lost or two bottles are missing, we still have the third one, but the customer will only own one bottle. We buy three bottles. But when you wait for one bottle, if nothing happens with each other, they go to the marketplace. So, and with NFTs, you have discounts on this marketplace. So you can go […] on the marketplace and buy a discounted bottle. And the first part [is] we want to create a ‘wine menu.’ And it will be like an invitation to wine events or a discount in a wine bar or things like that.

The second step in terms of safety is about insurance. When you stake an NFT, you have some GRAPES. 30%, it’s for fees; 30%, it’s for the owner of the wine, stock, storage; 30%, it’s for the vineyard. Meanwhile, the remaining 10% goes to us. So if the vineyard lost a bottle, he does not receive his GRAPES, so he has an [economic] interest in taking care of the bottle. And you can claim your bottle when you have enough GRAPES to pay the fees and shipping fee.

CT: It says that each NFT will represent a different type of wine on your site. So how will you guys determine the quality of wine?

SB and YK: Yeah, for so for this part, it’s about data and data science. So, in the beginning, we wanted to show the wine’s vintage as an attribute, but vintage is too subjective and too difficult for customers to choose. So we decided to create an attribute based on quality. And for this attribute, we’re going to use historical data, but we will create a prediction model. So analyzing all the data which allows us to determine quality, for example, the weather, the rain, and sunshine of the vineyards where grapes are grown.

Related: Despite the bad rap, NFTs can be a force for good

CT: Would you guys like to include any other statements or visions about what you are doing?

SB and YK: So we want to have three main objectives; first, digitalize the wine ecosystem, then, educate the people on how to spot good wine, and finally, gamification of the wine ecosystems [via the Metaverse]. We have a lot of ideas, for example, one wine collection of NFTs and then another. The ultimate step is to arrive at the real wine market with real wineries.

The last part, I think it’s important, it’s why the vineyards would be interested? The first part, it’s about the second market. So, for example, when the Domaine Château du Rouët sells a wine, they control the first market. But, if the bottle appreciates in value over time, the winery doesn’t control that. And with NFTs, you can put royalties on the second market, so Domaine Château du Rouët gets a commission from resales