Donald Trump launches NFT collection on Bitcoin Ordinals

Former U.S. President Donald Trump has introduced a new non-fungible token (NFT) collection titled “Trump Bitcoin Digital Trading Cards” on the Bitcoin (CRYPTO:BTC) network via the Ordinals protocol. 

The collection debuted with 160 pieces, with an additional 40 cards set for release later. 

Buyers can acquire the cards on the Magic Eden NFT marketplace after linking their Bitcoin wallets.

Announced in January 2024, this is Trump’s first NFT venture on Bitcoin, following earlier projects like “Trump Digital Trading Cards,” which included series such as the “America First” edition launched in August 2024. 

That collection offered perks like gold sneakers and meals with Trump but has seen limited trading activity.

Despite the sluggish performance of previous releases, the current series shows some momentum, with 29% of the collection already minted. 

The collection’s "Mugshot Edition" offers incentives to buyers who acquire 100 cards.

In 2024, the NFT market saw $8.8 billion in sales, a slight increase from 2023. 

Ethereum (CRYPTO:ETH) and Bitcoin led the industry with $3.1 billion each in sales, while Solana (CRYPTO:SOL) ranked third. 

Notable collections like Pudgy Penguins (CRYPTO:PENGU) generated $115 million in sales, and platforms like Magic Eden (CRYPTO:ME) and Pudgy Penguins introduced their own tokens, signaling growing innovation in the sector.

However, challenges persist for the NFT market. 

Oversaturation remains a critical issue, with 98% of collections experiencing minimal trading activity and most losing value rapidly. 

In addition, Kraken announced the shutdown of its NFT marketplace in November 2024, giving users until February 2025 to withdraw assets.

While late 2024 hinted at a recovery, the market's broader issues indicate a decline in speculative trading, making sustainability a key focus moving forward. 

At the time of reporting, the Bitcoin (BTC) price was $94,285.87.