<p><span data-contrast="none">Donald Trump’s </span><a href="https://opensea.io/collection/trump-digital-trading-cards?search[sortAscending]=true&amp;search[sortBy]=UNIT_PRICE"><span data-contrast="none">recent NFT drop</span></a><span data-contrast="none"> was ridiculed. Bigly. But the former U.S. president seems to have had the last laugh and may have provided the digital asset community a valuable lesson if they can get past the snark. </span><span data-ccp-props="{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}"> </span></p> <p><span data-contrast="none">Trump managed to sell out his collection in a matter of hours in a market where NFT trading volumes have declined more than 90% from earlier this year.</span><span data-ccp-props="{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}"> </span></p> <p><span data-contrast="none">And while speculation runs rampant on Twitter and in the media <a href="https://twitter.com/NFTherder/status/1604099659382784000?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1604099659382784000%7Ctwgr%5E3f796d0e16170a8ba40faaa916e5fee58ec1d4e3%7Ctwcon%5Es1_&amp;ref_url=https%3A%2F%2Fwww.coindesk.com%2Fweb3%2F2022%2F12%2F20%2Fcrypto-twitter-delves-into-strange-sloppy-side-of-trumps-nft-collection%2F">about the identity</a> of those </span><span data-contrast="auto">who own </span><span data-contrast="none">a large number</span><span data-contrast="none"> of valuable Trump NFTs, with other Twitter users pointing to evidence that suggests the collection </span><a href="https://nymag.com/intelligencer/2022/12/do-trump-nft-trading-cards-use-stolen-copyrighted-images.html"><span data-contrast="none">used copyrighted</span></a><span data-contrast="auto"> material</span><span data-contrast="none">, more than 70% of buyers were likely purchasing their first NFT, </span><span data-contrast="none">according to data</span><span data-contrast="none"> from <a href="https://dune.com/springzhang/trump-digital-trading-cards-mint-and-trades">Dune Analytics</a>. </span><span data-ccp-props="{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}"> </span></p> <p><span data-contrast="none">Like other brands with avid fanbases, Trump followed the strategy of attaching potential benefits — what some in the crypto world call “utility” — to each NFT, a growing trend as fewer consumers appear interested in buying NFTs that are little more than a digital portrait of an animated character. </span><span data-ccp-props="{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}"> </span></p> <p><span data-contrast="none">“The chance to meet Trump if you own the right NFT is a great benefit,” said Jon McNaughton, an artist who launched his own unsanctioned Trump NFT collection earlier this year. </span><span data-ccp-props="{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}"> </span></p> <p><span data-contrast="none">By current market conditions, the former president’s NFT drop was a success. Even with questionable artwork and the predictable outrage that surrounds the ever-divisive former commander in chief, thousands of people spent $99 on a digital trading card. </span><span data-ccp-props="{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}"> </span></p> <h2>Trump's backing</h2> <p><span data-contrast="none">Although McNaughton — who’s known for painting Trump and other conservative figures — spent several months working on “</span><a href="https://opensea.io/collection/mcniftytrump"><span data-contrast="none">The Trump Legacy Collection,</span></a><span data-contrast="none">” his January launch failed to generate a fraction of the attention or sales. </span><span data-ccp-props="{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}"> </span></p> <p><span data-contrast="none">“They have a big advantage with President Trump himself backing it up,” he said. </span><span data-ccp-props="{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}"> </span></p> <p><span data-contrast="none">Trump didn’t just back the drop — he teased it as a “major announcement” beforehand and then wrapped the collection in a sweepstakes with several </span><a href="https://collecttrumpcards.com/prizes"><span data-contrast="none">different prizes</span></a><span data-contrast="none">, including a chance to meet the twice-impeached former president. There’s also a golf outing, Zoom calls and autographed memorabilia up for grabs.</span> <br /> <br /> <span data-contrast="none">The former president isn’t the only public figure to employ the sweepstakes formula successfully. This week, NBA legend Scottie Pippen </span><a href="https://www.theblock.co/post/196830/besting-trump-nba-legend-scottie-pippens-nft-drop-sells-out-in-record-77-seconds"><span data-contrast="none">sold out</span></a><span data-contrast="none"> a </span><span data-contrast="none">1,000-piece NFT collection in 77 seconds. Owners of the NFTs automatically got a chance to win limited edition sneakers or a trip to Pippen’s hometown. </span><span data-ccp-props="{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}"> </span></p> <p><span data-contrast="none">McNaughton called the “Trump Digital Trading Card” collection “fun,” but he said it was fashioned using “highly Photoshopped digital images.” McNaughton said he hand “painted new characters and elements,” “used elements from existing paintings” and strove to create “layers of political nuance,” all in order to give depth to each of the 4,547 NFTs in his collection. </span></p> <h2><span data-ccp-props="{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}">'No comparison' </span></h2> <p><span data-contrast="none">“From an artistic perspective, there is no comparison,” he said. </span><span data-ccp-props="{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}"> </span></p> <p><span data-contrast="none">From a sales-volume point of view, there also is no comparison. After launching roughly a year ago, McNaughton’s collection has generated about $36,000 in sales volume, according to OpenSea data. Trump’s Digital Trading Cards collection has driven more than $9 million in trading volume in about a week’s time, according to OpenSea.</span></p> <div id="attachment_197757"class="wp-caption aligncenter" style="max-width: 620px;"><img class="has-caption size-medium wp-image-197757" src="https://www.tbstat.com/wp/uploads/2022/12/Screen-Shot-2022-12-23-at-9.54.54-AM-610x450.png" alt="" width="610" height="450" data-wp-editing="1" /><p class="wp-caption-text">Screenshot of NFTs from "The Trump Legacy Collection" on OpenSea.</p></div> <p><span data-contrast="none"><br /> While McNaughton partially blames poor marketing and a general lack of awareness and exposure, he believes other practical reasons held his collection back. </span><span data-ccp-props="{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}"> </span></p> <p><span data-contrast="none">“Our biggest failure was not allowing purchase with a credit card. If we could do it over again, we would launch on Polygon so there would be low gas fees and people could buy with credit card,” he said. “At the time, with Ethereum, the gas fees were $50 to mint. My audience was clueless on how to set up a crypto wallet and mint with Ethereum.” </span><span data-ccp-props="{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}"> </span></p> <p><span data-contrast="none">Trump managed to spur a media storm with his announcement, generating tons of free press. He also attached the potential to win prizes to each token. Then, as with Reddit’s highly successful NFT drive, which has raked in millions of dollars, the former president’s team made it easy for consumers without crypto wallets to buy his digital trading cards. </span><span data-ccp-props="{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}"> </span></p><br /><span class="copyright"><p>© 2023 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.</p> </span>