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Donald Trump’s latest NFT collection sparked criticism, with some describing the former president’s crypto push as a “grift.”
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United States presidential candidate Donald Trump’s latest non-fungible token collection generated over $2.2 million in sales only a few days after its release.
On Aug. 27, Trump launched a new NFT trading card collection called America First, offering buyers a chance to have a gala dinner with the former US president.
As of Aug. 29, Polygonscan data shows the collection had 22,360 mints and 1,210 holders. At $99 per mint, the new NFT collection is estimated to have earned about $2.2 million just days after the launch.
On July 17, Trump hinted at launching a fourth NFT collection, emphasizing the importance of the United States leading in the crypto industry. The presidential candidate argued that if he were to ignore crypto, China would likely dominate the sector.
With a total supply of 360,000, the collection could earn up to $35 million if it sells out.
Community criticizes Trump’s collection
As Trump continues to earn millions in NFTs, community members criticized the former president’s foray into digital collectibles.
A community member said that the new collection makes Trump’s crypto push feel “more and more” like a “grift.” Another X user also called the endeavor a “grift” but said it was a better deal than last time, as buyers can get shoes after buying a certain amount of NFTs.
Meanwhile, some community members speculate that the release of Trump’s fourth NFT collection is why the United States Securities and Exchange Commission (SEC) sent a Wells notice to the NFT marketplace OpenSea.
On Aug. 28, OpenSea CEO Devin Finzer reported that the company received a Wells notice from the SEC, alleging that NFTs on the platform may qualify as unregistered securities.
Related: NFTs can be securities but SEC Wells notice to OpenSea ‘not productive’ — Lawyer
Because of the timing and the fact that most Trump NFTs are available on the platform, crypto figures believe that the SEC’s move against OpenSea, which occurred a day after the collection launched, has something to do with its release.
Source: Udi Wertheimer
Bitcoin Ordinals collector Udi Wertheimer also highlighted the timing of the events. The pseudonymous NFT collector known as “Franklin” said that Trump killed NFTs since OpenSea received the notice after the collection’s release.
Magazine: ‘Treat your first NFT purchase like a first date’ — NFT Collector Suzanne
This article first appeared at Cointelegraph.com News
