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Donald Trump has launched his newest NFT collection, "Trump Bitcoin Digital Trading Cards," on the Bitcoin network using the Ordinals protocol. The first batch includes 160 pieces, with a total of 200 cards planned for the series. Buyers can claim 100 cards from the "Mugshot Edition" on Magic Eden, an NFT marketplace, after linking their Bitcoin wallet. The collection, first announced in January 2024, represents Trump`s debut NFT project on Bitcoin. He has previously released other NFT collections, such as the "Trump Digital Trading Cards," which included editions like the "America First" series launched in August 2024. That collection featured perks like gold-themed sneakers and exclusive meals with Trump but has yet to see significant trading activity. Sales of other Trump-branded NFTs have also been inconsistent. However, the new collection on Bitcoin Ordinals shows promising early interest, with 29% of the cards minted at the time of writing. This launch comes as the NFT market continues to evolve, with Ethereum and Bitcoin leading 2024 sales at $3.1 billion each , followed by Solana in third place. The overall NFT market recorded $8.8 billion in sales in 2024, a slight increase of $100 million from the previous year. Despite the recovery signs, the NFT market still faces challenges. Oversaturation remains a major issue, with 98% of collections showing little or no trading activity and only 0.2% of new projects proving profitable. Most collections lose over half their value within days of release. Platforms like Magic Eden and projects like Pudgy Penguins have been leading innovations in the space. Pudgy Penguins generated $115 million in sales and launched their own token, setting a trend that OpenSea, the largest NFT marketplace, is rumored to follow in 2025. While some platforms expand their offerings, others are scaling back. Kraken, for instance, announced the closure of its NFT marketplace in November 2024 to focus on other priorities. Users have until February 27, 2025, to withdraw their assets. The late 2024 NFT market showed signs of stabilization, but speculative trading continues to decline. Trump’s new NFT venture on Bitcoin Ordinals may indicate a shift in strategies to tap into Bitcoin’s growing influence in the NFT ecosystem. It remains to be seen whether this collection will overcome market challenges and achieve lasting success.
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