Trump's NFT trading cards officially sold out around 12 hours after release.

Donald Trump began his third campaign for president recently, followed by news that we would be making a "major announcement." While most people thought that the announcement would be a political move, in an unexpected turn of events, the former president revealed something entirely different.

According to BBC, Trump released a collection of 45,000 fantasy non-fungible tokens (NFT) in an announcement via Truth Social, the social media site he founded in 2021.

Trump's NFT Trading Card Collection Already Sold Out?

According to the collection's official website, the Trump Digital Trading Cards depict the president in cartoon art resembling collectible baseball cards. The Polygon-minted tokens cost $99 each and may be bought with ether (ETH) or fiat money.

Customers are prompted to select how many Trump Trading Cards they wish to buy after the checkout process. For buying 45 NFTs at once, the pop-up advertises a guaranteed ticket to a gala dinner with Trump, as seen in the screenshot below. This would cost a customer $4455.

In addition to being a rare collectible, each purchased Trump NFT instantly gives customers a chance to win thousands of spectacular prizes in a sweepstake to play golf at one of Trump's properties and meet him. Customers can also get a ticket to a gala at a Trump resort in South Florida if they purchase 45 cards.

Despite widespread criticism from both Trump fans and critics, CNET reports that all 45,000 NFTs were sold out within 12 hours, according to data from OpenSea. At $99 each, the total amount raised is $4.45 million.

Additionally, 10% of each sale made on secondary markets such as OpenSea goes to the collection's authors. On OpenSea, traders have already spent $406,000 (320 ether) purchasing and selling NFTs.

What Will Happen to Trump's NFT Trading Card Profit?

Following the sold-out trading cards, critics may be left wondering what was Trump's motivation for the project or what he plans to do with the profit he earned. The collection's organizer, NFT INT, clarifies on its website that none of the funds raised would go toward Trump's 2024 presidential bid.

According to a statement on the website, neither NFT INT nor any of Trump's firms are owners of the collection, nor is Trump personally responsible for it.

However, since Trump opted to license his name, likeness, and image for the project, he may still earn money from royalties on using his name and image even if NFT INT's funds aren't used to assist his 2024 campaign.

Read Also: How Do NFT Games Work? 'Axie Infinity' Inner Workings Explained

Trump's NFT Trading Cards Draw Mixed Reactions

Following Trump's announcement of the NFT trading card collection, fans and critics alike have taken to social media to make him a target of ridicule.

Meanwhile, some netizens have taken to commend Trump's move, seeing as the initiative was immediately sold out after 12 hours.

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