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Donald Trump’s Bitcoin Ordinals NFT Collection Sparks Controversy

Former United States President Donald Trump has initiated another collection of digital assets, triggering debate within the cryptocurrency community.

Trump’s most recent project is hosted on the Bitcoin (BTC) blockchain, but it incorporates a distinctive element.

Trump Digital Trading Cards on Bitcoin Ordinals Come with Limitations

What distinguishes these digital collectibles is their untradeable status until December 2024, a restriction that has left many enthusiasts puzzled.

In a recent post on X, the official Trump Cards account stated that collectors willing to invest $99 for 100 of the “mugshot edition” NFTs, initially released on the Polygon blockchain in December, would also receive a unique digital card, referred to as an “ordinal,” on the Bitcoin blockchain.

Trump’s social media announcement touted these as “The First Ever Trump Trading Cards officially created on the Bitcoin Blockchain!” However, the announcement thread contained grammatical errors and non-standard capitalization, further drawing attention to the project.

The catch is that only 200 of these “one of one” Ordinals will ever be created. This limitation, ostensibly intended to prevent them from being perceived as “investment vehicles,” has ironically reduced their appeal as NFTs in the eyes of potential buyers.

Donald Trump’s Foray in NFTs and Digital Collectibles

As previously reported, the former president introduced his NFT collection, named “Trump Cards,” in December 2022.

This NFT assortment showcases a variety of digital “cards” depicting Trump in various iconic poses and scenarios, including Trump as a muscular wrestling champion, Trump holding a basketball, and even Trump in outer space.

According to data from OpenSea, the series of NFTs has generated an impressive trading volume exceeding $26 million.

In August of the previous year, Trump launched his second series of Trump Trading Cards, which also quickly sold out upon release. This second collection featured 47,000 tokens, each priced at $99, and introduced limited one-of-one NFTs along with autographed cards.

Speculation concerning the ownership of these NFT projects has been widespread since their initial launch.

According to information on the official Trump Trading Cards website, CIC Digital LLC granted NFT INT LLC, the company behind the NFT project, permission to utilize Trump’s likeness, name, and image through a paid licensing agreement.

The project’s website also asserts that the funds generated from the NFTs will not be directed towards Donald Trump’s presidential campaign.

In an April filing, Trump disclosed that he has earned as much as $1 million from the sales of his digital trading cards. This filing was part of his personal financial disclosure submitted to the Federal Election Commission, which also revealed that the former American politician earned millions from speaking engagements.

As per the filing, Trump holds various positions within CIC Digital LLC and CIC Ventures LLC, including “manager, president, secretary, and treasurer.”

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I want to save money. Will cryptocurrency work?

Cryptocurrency is essentially virtual money that operates in a decentralized manner, not through a bank but directly on multiple independent computers.

Every cryptocurrency has two main components: the units of digital exchange called “coins” and the network within which the exchange takes place. These units can be transferred between wallets and exchanged on exchanges. The networks in which these coins exist are called blockchains, which translates to “chains of blocks.”

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