Former US President Donald Trump described his NFTs as "sort of cute" in a recent interview. These NFTs raised over $1 million, despite the president's insistence that he does not consider them investments. It is expected that more political figures will mint art in the near future, according to many NFT fans.
In particular, non-fungible tokens (NFT) have been issued by individuals in several fields for a variety of reasons, including investments, value, artistic expression, etc.
In an interview with One America News, the former United States Commander-in-Chief stated that the NFTs were motivated by his love for art.
"I did not consider it to be an investment. In my opinion, they were cute. The visions you get for $99 are beautiful and interesting, and I prefer to view them that way rather than as an NFT,” said Trump.
As a further explanation, Trump admitted that he had no knowledge of how digital art works prior to releasing the NFTs depicting him as a hero.
“As soon as I saw their artwork, I became captivated by it. It almost reminded me of comic book art when you think about it, but when I saw it, I remarked, "Gosh, I have always wanted a 30-inch waist.".
It was criticized when Trump released his NFTs in December, which depicted him as a superhero, astronaut, and cowboy. Although there were discussions concerning the card, it sold out in just 12 hours for around $99, and is reported to have earned the creators over $1 million.
It has been a difficult year for NFTs
Compared to the milestones attained in 2021, 2022 was a terrible year for digital art. This year, NFTs failed to meet all metrics from poor volumes to waning collector interest. As trading volume decreased from $3 billion in September 2021 to $350 million in September 2022, the NFT marketplace giant OpenSea reported a sharp decline this year.
The number of daily users on metaverse platforms declined in contrast to the previous year, with creeping NFT purchases contributing to the worsening of the decline in NFT transactions. While celebrity and other media personalities have continued to drop more projects, more users are hopeful that a pick-up will occur in 2023 despite the fall.