Trump NFTs To Get Bitcoin Ordinals Treatment: How You Can Own One
Portfolio Pulse from Chris Katje
Former President Donald Trump has launched a third NFT collection, 'The MugShot Edition,' which includes physical editions and Bitcoin Ordinals. The collection, minted on the Polygon network, can be purchased with Ethereum or a credit card. Buyers of 100 NFTs receive a Bitcoin Ordinal and other perks, such as dinner gala invitations at Mar-a-Lago. The first two collections sold out, but the third has not, with 47,479 of 100,000 NFTs sold. The floor price of the first collection increased after Trump's early lead in the 2024 Republican nomination.
January 18, 2024 | 10:28 pm
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POSITIVE IMPACT
The Trump NFT collection's new perk of Bitcoin Ordinals could potentially increase interest in Bitcoin as it highlights a novel use of the blockchain.
The association of a high-profile figure like Trump with Bitcoin Ordinals could bring attention to Bitcoin's capabilities, possibly affecting its demand and price positively in the short term.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 60
NEUTRAL IMPACT
The Trump NFTs being purchasable with Ethereum could maintain or slightly increase demand for ETH, but the impact is likely limited due to the collection's underwhelming sales.
While the use of Ethereum to purchase NFTs could support its utility, the fact that the third collection has not sold out like the previous ones suggests a muted impact on Ethereum's price.
CONFIDENCE 60
IMPORTANCE 40
RELEVANCE 50
NEUTRAL IMPACT
The Trump NFT collection being minted on the Polygon network could bring positive attention to MATIC, but the impact may be limited due to the collection not selling out.
Minting on Polygon showcases the network's capabilities, which could be positive for MATIC. However, the less than expected sales of the NFT collection may dampen any potential positive impact on MATIC's price.
CONFIDENCE 60
IMPORTANCE 40
RELEVANCE 50