Trump NFTs Take a Leap Back Time Commemorating Melania on July 4
TL; DR
Melania Trump launched her patriotic-themed NFTs to celebrate the independence of the United States.
A collection of Melania Trump NFTs are available at the USA Collectibles website.
Celebrity NFTs have helped to increase the adoption of non-fungible tokens and cryptocurrencies.
The launch of Melania Trump NFTs led to a 300% increase in the value of Donald Trump’s NFTs.
Introduction
The art sector has been changing over time as a result of evolving preferences and tastes among artists and the entire society. Technology has been one factor that has led to most of these changes. Nevertheless, the rise of non-fungible tokens has brought a new dimension to the world of art as they have opened up new possibilities.
This article explores ways in which NFTs have brought changes to the world of art. In Particular, we will also discuss the impact of celebrity NFTs on the adoption of digital art and cryptocurrencies.
The Return of Trump NFTs
The Trump family has shown its growing interest in non-fungible tokens (NFT) with the launch of several collectibles which include Melania Trump’s Solana-based NFTs entitled “The 1776 Collection.” This collection, alternatively referred to as “Yearning to Breathe Free” with seven distinct designs, consists of 3,500 NFTs which cost $50 each.
According to Melania Trump, the United States’ July 4th Independence Day inspired her to release the latest collection that includes Six Limited Edition Collectibles. Specifically, the NFTs with a patriotic theme have quintessential American symbols which include the statue of liberty, the Liberty Bell and Mount Rushmore which exist on animated placards.
Read also: Largest NFT dump in the History of NFTs
USA Statue of Liberty - Foxnews
In addition, each NFT has a patriotic-themed music track. However, it is unclear whether or not the sound track includes Donald Trump’s rendition of “The Star-Spangled Banner” titled “Justice for All, featuring voices of prison inmates who are serving jail terms for storming the Capitol on Jan. 6.
According to Melania Trump’s office, each collectible is based on some essential attributes of Americana and portrays foundations of “American ideals.” In this respect, Melania Trump said, “The 1776 Collection of artwork draws inspiration from several iconic landmarks of our nation, which I had the privilege of visiting during the time I served as first lady.”
She added, “Each piece provides a view into our nation’s history, culture and patriotism. I am proud to celebrate our great nation and remain inspired by the words contained within the Declaration of Independence.”
People who are interested in the Melania Trump NFTs can buy them on the USA Collectibles website. This platform also has POTUS TRUMP NFTs with some photos of Donald and Melania Trump. Note that the collection is already available for sale.
According to a Tweet by Melania Trump, people could start purchasing the Trump NFT collection on 29 June, a few days before the United States independence celebration.
Fox News has divulged that Melania intends to give part of the proceeds to the “Be Best initiative- Fostering the Future”, a programme that assists children who live in foster care communities. This fund will support various educational initiatives such as scholarships for these children.
Part of the funds will go towards helping the children that will leave the foster care programme to acquire necessary expertise such as computer knowledge which they will use to get employment or sustain themselves financially in other ways.
The timing of Melania Trump NFT collection to coincide with the celebration of the independence of the United States is significant in several ways. First, it shows that Melania, as a popular political figure, still has much interest in becoming the first lady. As such, this is showing her burning desire for her husband Donald to become the President of the United States of America once again.
In an interview with Fox News, Melania Trump was clear that she supports the presidential aspiration of her former husband, Donald Trump. According to her, if Donald Trump is elected to become the president of the United States, he will work to restore “hope for the future and lead America with hope and love.”
She said, “My husband achieved tremendous success in his first administration, and he can lead us toward greatness and prosperity once again.” Already, in November 2022 Donald Trump announced his willingness to run for a second presidential term.
Her comments show that she still harbours hope of helping the United States to prosper by supporting her former husband.
Melania Trump’s History in NFTs
Generally, the Trumps, both Melania and Donald, have contributed much in the NFT sector with several collections. Melania was the first to participate in the non-fungible token frenzy by launching her first NFT collection in December 2021. Later, at the beginning of 2022 she launched another set of non-fungible tokens, a Head of State fashion-based NFT collection.
Other Celebrities Involved in NFTs
Melania Trump is not the only celebrity that has delved into the NFT sector. Her husband, the former US President, Donald Trump, launched his digital trading card collection in 2022. That was a very successful collection which sold out within 24 hours. In the end, Donald Trump racked in more than $20 million from that NFT collection.
Melania Trump- Foxnews
Other celebrities that ventured in NFTs include Paris Hilton, Jimmy Fallon, Shawn Mendes and Snoop Dogg, among others.
The Impact of Melania Trump NFTs on the Market
It is not yet very clear how the market will receive Melania Trump’s NFT collectibles. However, her previous collections led to huge losses among investors. So far, only 586 Melania Trump NFTs have been sold, a sign that investors may be reluctant to purchase them.
Nonetheless, it is important to note that Melania Trump NFTs have had a significant influence on the values of Donald Trump NFTs whose price increased by 300% within a 24-hour period that stretched from 29 to 30 June. In addition to the price rises their trading volume also increased by 339%. As it stands, Trump NFTs’ floor price is 0.1177 Ethereum.
There are 450,000 Trump NFTs based on the Solana blockchain which were originally sold for $99.00. These NFTs were special in that they were tied to a perk that included a dinner with Donald Trump or a group zoom meeting with him.
Read also: Donald Trump Trading Card Volume Pumps Resultant from Criminal Indictment
Implications of Celebrity-related NFTs on the NFT Eco
There is no doubt that celebrities that have been involved in NFTs and other digital assets have helped to increase their adoption over time. Simply defined, celebrity NFTs refer to non-fungible tokens which are created, promoted or supported by celebrities.
The celebrities that include musicians, actors and athletes have impressed the importance of NFTs on their followers. Since they normally have many followers, their influence has led to the greater adoption of NFTs than otherwise.
More importantly, the celebrities that have launched their own NFTs take them as vehicles to connect with their fans and followers. By having their unique NFTs they enhance their trademark style to appeal to their fans and the wider society.
Analysts have noted that celebrities have helped to normalize the NFT market which has led to high trading volumes of certain NFTs. For example, popular celebrities like Jimmy Fallon who had interest in Bored Ape Yacht Club (BAYC) resulted in their wider adoption.
Naturally, many impressionable people have modeled their behaviour along that of celebrities. Therefore, a celebrity’s simple act of purchasing a non-fungible token or cryptocurrency attracts many other people to do so.
The celebrities that participate in the metaverse are likely to influence many people to buy and own NFTs. This is because some artists will develop and own digital art galleries which promote NFTs and other virtual assets. Some artists like musicians sell their tickets as NFTs which will let many people develop interest in them.
Read also: Celebrities that have entered the NFT world
Celebrity NFT Marketplaces
As said above, many celebrities now create their own NFTs that exist on various marketplaces. A celebrity marketplace is a digital platform where celebrities and other renowned people sell their NFTs.
As we remember, NFTs may represent unique or special items like pieces of art. They can also exist as limited-edition merchandise, exclusive content or personal experiences. Therefore, celebrities draw their fans to visit such marketplaces and purchase their NFTs.
For example, some fans can use cryptocurrency to purchase certain celebrity NFTs they value, which enable them to access their favorite celebrity’s personal experiences through videos or other means.
Celebrities that own and use NFTs can popularize non-fungible tokens in various ways such as fan engagement. The celebrities can create exclusive content for their fans and followers. Also, by launching virtual concerts celebrities are able to sell their NFTs to the attendees.
Celebrities may also participate in games where they sell their exclusive in-game items. In some cases, they sell their NFTs to raise money for charitable causes like supporting emerging artists.
Significance of NFTs in the Digital Art Market
Now that we have discussed the importance of celebrity NFTs, let’s turn our attention to the general significance of non-fungible tokens in the digital art market.
NFTs solve one of the major problems which digital artists have faced over the years, that of duplication of their work. People can easily duplicate digital art which deprives their creators of the revenue they should get.
However, it is impossible for anyone to duplicate pieces of art that exist as non-fungible tokens. With NFTs the artists create one-of-a-kind digital artworks that exist on the blockchain and are verifiable.
Likewise, NFTs enable the artists to maintain control of their artworks. These artists can control or monitor the distribution of their work. In addition, NFTs enable their creators to earn royalties every time they change hands. This increases the revenue they generate from their creations. Further, auction houses and galleries can no longer dominate the art industry as before as the artists can sell their work directly to their fans.
It is also important to note that NFTs democratize the art industry as they enable the artists to access collectors and buyers of their work. This is because the NFT market is accessible to people around the world. They are not confined by geographical locations.
Another important contribution of NFTs to the art industry is that collectors can easily support their favorite artists irrespective of their geographical locations. Importantly, the collectors can transfer the NFTs at any time which also enables them to generate more revenue.
The Future of Non-fungible Tokens in the Art World
Many analysts believe that non-fungible tokens will continue to play an important role in the art world. The passage of time will allow many artists to use this novel way of presenting their works. As more artists participate in digital art, they are likely to find new ways to incorporate NFTs to add aesthetic values to their creations. Experts predict that the artists will increase the use of augmented reality experiences and virtual art galleries.
Nevertheless, the adoption of NFTs in digital art has raised concern of environmental damage due to the high consumption of energy when mining and storing data on the blockchain. Therefore, the industry should find ways of harnessing and using sustainable energy.
Conclusion
Melania Trump, the United States’ former first lady launched her latest NFT collection in June. The popularity of NFTs that Trump created depends on the appreciation the United States citizens have of their features and attributes which include the Statue of liberty, the Liberty Bell and Mount Rushmore. Analysts believe that such celebrity NFTs help to increase the adoption of non-fungible tokens and other digital assets.
