President Trump Made Up To $1M From NFTs

2023-4-17 11:15

Former U.S. President Donald Trump earned between $100,001 to $1 million through NFTs, according to an April 14 filing.

According to the filing, President Trump served as the “manager, president, secretary and treasurer” for CIC Digital LLC since March 2022. This company granted NFT INT LLC a license to use his name, likeness, and image in the widely publicized “Trump Digital Trading Cards” NFT collection.

The filing further showed President Trump made over $5 million from speaking engagements. He also made less than $201 from the Trump Media & Technology Group — the company behind Truth Social.

President Trump NFTs

President Trump NFT is a collection of 45,000 digital art launched in December 2022. The collection had enticed the community with its supposed association with the former president and sold out on its launch day.

Since then, the collection has seen its value impacted by the media coverage surrounding Trump, reaching an all-time high of 0.675 ETH in February, according to Coingecko data. For context, the sales volume of the collection more than doubled ahead of the former president’s arraignment in New York City.

President Trump NFTs Floor Price (Source: Coingecko)

CryptoSlam’s data showed that the collection has a total trading volume of over $19 million — an indication of the level of interest it generated within the community.

Meanwhile, several controversies have plagued the collection since its launch. There have been accusations of insider trading of the rarest NFTs in the collection, alongside reports of stolen art.

Who Owns the Collection?

The New York Times linked the NFTs to serial entrepreneur Bill Zanker who has worked with Trump before. According to the report, a significant portion of sales revenue had been pledged to Trump.

Besides that, NFT INT LLC Wyoming address has been linked to shell corporations in the past.

Meanwhile, the collection’s official website states it “is not owned, managed or controlled by Donald J. Trump, The Trump Organization, CIC Digital LLC or any of their respective principals or affiliates.” The website also added that the NFTs “are not political and have nothing to do with any political campaign.”

Trump faces 34 felony counts in New York for falsifying business records. He also faces several investigations of his actions during his time as president.

The post President Trump Made Up To $1M From NFTs appeared first on BeInCrypto.

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nfts president trump made filing beincrypto april

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