Donald Trump expands his NFT ventures with a new collection on the Bitcoin blockchain.
Trump's New NFT Collection
Donald Trump has introduced 'Trump Bitcoin Digital Trading Cards' leveraging the Ordinals protocol on the Bitcoin network. The initial batch consists of 160 cards, with 100 available for purchase via the Magic Eden marketplace. This marks Trump's first Bitcoin NFT project following previous releases like 'Trump Digital Trading Cards' and 'America First'. The new collection has already garnered interest, with 29% of cards minted so far.
Current NFT Market Overview
The NFT market continues to evolve despite challenges such as oversaturation, with 98% of collections lacking trading activity. Combined sales on Ethereum and Bitcoin reached $6.2 billion in 2024, with overall market sales showing a slight increase from the prior year.
Future Prospects and Challenges in the NFT Market
While there are signs of stabilization in the NFT sector, speculative trading is on the decline. Trump's strategic use of Bitcoin's growing role in the NFT ecosystem may indicate a shift, though the long-term success remains uncertain amidst ongoing market challenges.
Projects based on Bitcoin and successful initiatives by platforms like Magic Eden continue to contribute to the growth of the NFT market.
