Melania Trump, the former first lady, is launching a new July 4th-themed non-fungible token (NFT) collection following her husband’s second NFT collection launch. Melania is teaming up with USAMemorabilia.com, a site that sells hokey America-themed NFTs, to launch the project.
The cryptocurrency world was shocked when former president Donald Trump released his Trump Trading Card NFT collection but the surprise wore off by the time the 3rd set of Trump NFTs was announced.
History of The Trumps And NFTs
The first NFT collection from Donald Trump launched in December 2022 and was an immediate success. Trump was made fun of by pundits and commentators on all sides of the political spectrum for the collection.
Even many of his most ardent supporters like the far-right commentator Baked Alaska, who served jail time for his part in the January 6th riot, lambasted him for it.
i can’t believe i went to prison for an nft salesman pic.twitter.com/yh5sE1kdDg
— Baked Alaska (@bakedalaska) April 18, 2023
Despite the onslaught of criticism, the plan still worked flawlessly to bring in a ton of cash. Trump managed to sell out the collection of 45,000 NFTs at $99 a piece, bringing in more than $20 million.
Each purchase gave you a chance at winning special bonuses like a dinner or Zoom call with Trump himself. While this may have driven some of the sales, most were likely focused on reselling the cards on the secondary markets.
This turned out to be a brilliant call for those traders as the cards eventually peaked at over $1,000 per NFT, 10 times the initial sale price. This was contingent on actually selling the NFT at the right time, however, as the launch of the 2nd collection made the 1st plummet in value.
Can you guess when the second collection was launched on the above chart? That’s right, it was on April 19th, when the first collection’s price floor (the cheapest price for any NFT in the collection) crashed from 0.38 Ether to 0.099 Ether, nearly a 75% crash.
Despite the painful effects of the crash on Trump NFT holders, the former president made off like a bandit. He was able to sell out another 47,000 NFTs in the second launch for the same price of $99 each, bringing in another $20 million.
Melania Trump’s Foray Into NFTs
Melania Trump’s foray into NFTs has been and almost certainly will continue to be much, much less exciting.
Trump is selling 3,500 NFTs at $50 a piece and putting them on the Solana blockchain. It’s difficult to tell what Trump has to do with the collection, but she has supported it on Twitter.
The collection is made up of 7 designs, 6 of which have already been revealed and are on sale now. The last one will be revealed on July the 4th and anyone who buys all 6 of the other NFTs will get one for free. Each one features a different American landmark like Mount Rushmore, the Statue of Liberty, and the Washington Monument.
The 1776 Collection
— USAmemorabilia (@USAmemorabilia) June 29, 2023
They also have cliche, freedom, and generally America-themed sayings and phrases such as “Proclaim Liberty” and “Yearning to Breathe Free.” Finally, they all have patriotic American music attached as well.
Unlike her husband’s collections, The 1776 Collection seems to have been a flop, at least at the time of writing. Less than 10% of the collection has been purchased so far, with about 322 sold total.
Why Are Melania Trump’s NFTs Flopping?
There are a few likely reasons why the collection hasn’t been too successful compared to the Trump Trading Card NFTs. The first is that it isn’t connected to a former president, let alone one of the most talked-about people in the world.
Her connection to the project seems rather weak as well as the NFTs don’t picture her in any way and the website doesn’t even seem to mention her. She still retweeted a Tweet from Fox News with an article saying that she launched the collection and retweeted USAMemorabillia.com’s account too.
Melania Trump launches ‘1776’ NFT collection ahead of July Fourth to benefit foster kids https://t.co/KqP4iCSbI6
— Fox News Politics (@foxnewspolitics) June 29, 2023
Because of the weak connection to her and her husband, supporters of their family are less likely to buy them to support her. Traders are also likely less interested in taking the risk of buying one because the collection doesn’t have much star-power behind it, unlike Trump Trading Cards.
If The 1776 Collection fails to sell out, perhaps celebrities (and politicians) will be less likely to release these basic NFT collections to raise money in the future. The criticism may simply outweigh the reward.
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