Yeah so it just hit me that there are TFG NFT trading cards specifically because the former president of the United States is super crazy jealous of the whole Dark Brandon thing. ???????
— Dirk Lester ??????????????? (@Dirk2112) December 15, 2022
But who’s the sucker here — the MAGAts market, or the walking caricature on the cards? The Washington Post‘s Phillip Bump, “Who convinced Donald Trump that Trump NFTs were a good idea?”:
It’s very easy to see how NFTs — non-fungible tokens, bits of digital art created to be unique — would appeal to Donald Trump. People were paying hundreds of thousands of dollars for exclusive ownership of a drawing of a monkey! All you had to do was make a picture, hit some internet buttons somewhere, and suddenly you’re vacuuming up cash like there’s no tomorrow. For Donald Trump, a guy who used his name to sell everything from steaks to water, the idea would be irresistible.
So, on Thursday, the former president of the United States — a guy who two years ago oversaw the vast power of the American government, a man who at one time could command armies and navies as he saw fit — announced that he was getting into the NFT game.
There are … just a few problems.
The first is that those NFT creators weren’t vacuuming up cash but crypto — that is, digital currency that is only loosely tethered to the actual economy. A lot of those hundreds-of-thousands-of-dollars sales were in currencies that have since lost a lot of value, making them, say, thousands-of-dollars sales.
The second is that people were paying lots of money for NFTs. Crypto went through a boom in 2021 that helped power the NFT market. By January, there were more than 322,000 sales of collectible NFTs a week, generating hundreds of millions of dollars. But by September, trading volume had collapsed by 97 percent. In the most recent week, according to NonFungible, there were only about 33,000 sales of collectible NFTs…
The third problem with Trump’s effort is that the entire thing is far more Trump Steak than Trump 2016. For all of his obsession with presenting a glamorous lifestyle, his aesthetic has long been more “Queen of Versailles” than Versailles. And the art in the NFT line largely consists of clumsily Photoshopping Trump’s head onto manly, svelte figures — not necessarily the sort of thing that someone might find worth an initial $99 investment…
I cannot imagine how disappointing Actual Trump must be to people who are constantly waiting for Imagined Trump https://t.co/EfXnCBh4KJ
— Jane Coaston (@janecoaston) December 15, 2022
fool + money / reality = schadenfreude. https://t.co/9CBlovnw3P
— Cipher of the Golden Spatula (@snarkylicious) December 16, 2022
Trump has already sold out all 45,000 of his $99 digital trading cards. The same people screaming about “inflation” and “gas prices” just paid $99 for a single JPEG image.
— No Lie with Brian Tyler Cohen (@NoLieWithBTC) December 16, 2022
Yeah, except… it’s complicated:
New on my substack: Want to own a Trump NFT Trading Card? You can't – you don't fully own them. If you sell them, you have to kick back 10% of the proceeds to Trump & fellow grifters, whose corporate web traces back to a small house linked to fraudsters.https://t.co/7VKLlC6WKU
— Kurt Eichenwald (@kurteichenwald) December 16, 2022
(I’m expecting a whole narrative arc to unfold here, not least in legal filings.)
I think the 'Sold Out' was more of a "Oh shit! Even my loyal subjects aren't having it" moment
— 🇺🇸BLUE MAGOO🇺🇦 (@BlueDoggin45) December 16, 2022
Amazing, no notes pic.twitter.com/wc01TdABYP
— Molly Jong-Fast (@MollyJongFast) December 15, 2022