Former US President Donald Trump launched his non-fungible token (NFT) collection of digital trading cards, which sold out in less than a day. The launch attracted massive attention, including from Emmy-winning comedy Saturday Night Live (SNL).
The collection of 45,000 digital cards netted Trump close to $ 4.5 million at an issue price of $99. The digital collectibles depict Trump in various poses, such as a Nascar driver, a superhero, and an astronaut.
The artwork provided fodder for the SNL skit, which also drew attention to the perception of many that NFTs are scams. This impression has come up in NFT surveys. We’ve noted that many companies using the technology now refer to them as digital collectibles rather than NFTs, perhaps to avoid the association with scams. So while some see Trump as helping NFTs to go mainstream, with the SNL skit, it might not be quite the impact desired.
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