Former President Donald Trump appears to have embraced a new method to help raise funds for his 2024 re-election campaign -- the sale of non-fungible tokens, or NFTs, which are a unique sort of "cryptographic asset" that can be bought, sold, or traded with others.
On Tuesday, Trump announced that he was launching a second round of what is essentially a variety of digital trading cards featuring his image that was priced at $99 each, according to Forbes.
The former president had released an initial round of NFTs in December 2022, shortly after he announced his campaign, and though the move had been widely mocked by enemies and some allies alike, that first round sold out in less than one day and reportedly netted upwards of $4.4 million.
In a Tuesday morning post to his Truth Social account, Trump wrote, "I am pleased to inform you that, due to the great success of my previously launched DIGITAL TRADING CARDS, we are doing it again, SERIES 2, AVAILABLE RIGHT NOW. GO TO collecttrumpcards.com. Have fun!"
That post included an image of an NFT that featured Trump holding up the iconic Liberty Bell with an ephemeral American flag waving behind him amid sunset-lit clouds.
It also included a link to a website where the Trump digital trading cards and other related merchandise could be purchased.
Other examples of the Trump NFTs included images of the former president as a King of Hearts playing card, a King piece on a chess board, George Washington crossing the Delaware River, a guitar-playing rockstar, and one of him simply grilling burgers in a backyard, among others.
According to Forbes, some of the digital Trump cards are one-of-a-kind creations while others were made in limited edition batches, and purchasers were limited to just 47 cards total -- a reference to his being the 47th president if he wins re-election.
However, if purchasers used cryptocurrencies to buy the NFTs, they would be permitted to purchase as many as 100 cards.
Individuals who purchased 47 or more of the cards at once were also entered into a drawing for a chance to be invited as a special guest to have dinner with Trump at his Mar-a-Lago resort in Florida.
As Forbes noted, the first round of Trump digital trading card NFTs had swiftly sold out in just one day, and according to the former president and the website, that appears to be the case again.
Less than six hours after Trump announced that the "Series 2" cards were available for purchase, Trump wrote in a Tuesday afternoon post, "As of 10 minutes ago, my Digital Trading Cards SOLD OUT, in RECORD TIME, approximately $4.6 Million. A great honor, and I hope everyone is Happy, Healthy, and Wealthy. CONGRATULATIONS!"
Likewise, the website has been updated to make it clear that the "Series 2" cards are "sold out" and no longer available for purchase.
Forbes noted that NFTs have had a rather rocky history, including losing roughly 97 percent of value over a period of several months in 2022, and while the NFT market has since recovered somewhat, there are no guarantees that these Trump cards will increase or even retain their purchase value long-term -- and even Trump's website states that the cards are "intended as collectible items for individual enjoyment only, not for investment vehicles."
