Trump Earned Up to $1 Million from Trump-Branded NFT Sales
Former President Donald Trump made anywhere from $100,001 to $1 million from sales of Trump-branded non-fungible tokens (NFTs), according to a filing from the U.S. Office of Government Ethics. The digital collectibles featuring the 45th president’s likeness were released in December and sold out within a day. However, questions remain about how Trump was able to earn such a significant amount of money from the NFT project.
Details of Trump’s NFT Sales and Income
The filing shows that Trump holds positions at CIC Digital LLC and CIC Ventures LLC, and CIC Digital LLC allowed NFT INT LLC to use Trump’s likeness, name, and image under a paid licensing agreement. Income from CIC Digital LLC was listed as “NFTs” that generated between $100,001 to $1 million, while CIC Ventures LLC received over $5 million from speaking engagements.
Questions Surrounding Trump’s NFT Project
Despite the significant earnings from the NFT project, it’s not entirely clear how Trump was able to rake in such an amount. Twitter users and crypto enthusiasts have raised concerns about stolen art, shady wallet addresses, and the registered address of NFT INT LLC at a UPS Store in Park City, Utah, despite the LLC itself being incorporated in Wyoming. Meanwhile, the number of active wallets holding Trump NFTs has declined 13% to 208 over the last week.
While the official website states that none of the money earned from the NFT collection is going directly to Trump’s reelection campaign, the filings indicate that he has personally benefited from the earnings. Additionally, there is a 10% creator royalty fee on secondary sales of the NFTs, with the highest offer currently at 10 ETH (about $20,000).
The collection, which has done over $19 million in sales since its inception, has spiked in price over the past few weeks following news of Trump’s arraignment in New York. Despite the questions surrounding the NFT project, collectors continue to hold onto their digital memorabilia.
Source: CoinDesk
