For the Love of the Game (Market Commentary) |
NFTs’ ability to bring attention and funding seemingly in an instant has become a main selling point for the new technology. By connecting fans with celebrities, and collectors with prizes, in just a few years NFTs have proven to be a lightning rod for raising funds. When politicians begin to harness that power, it becomes clear that politics will be a trojan horse for NFT mass
adoption. Nobody would call Donald Trump a technical wizard. But even so, he managed to find himself at the cutting edge of technology, using NFTs to do what he does best; draw
attention and raise money. In December, the former President released an NFT collection called Trump Digital Trading Cards, featuring 45,000 collectibles of #45 himself in different
outfits at a price of $99 each. The collection sold out within a few hours, and like Trump himself, is part of history in the making.
Trump’s newest financial disclosers show that he raked in somewhere between $100K to $1M USD from the sale, and his money-making may not be over
yet.
Data on CryptoSlam.io shows that the collection to date has traded for nearly $20M on secondary marketplaces, with up to 10% of those sales going back to the project (and possibly Trump directly) as royalties.
Considering that sales seem to increase in correlation with media coverage, Trump likely has a few more substantial paydays ahead. CryptoSlam shows sales on days corresponding with increased google trends – Source It’s unclear if Trump’s NFTs were intended for political fundraising, or if they were purely collectibles. The line between the two is blurry. During the initial sale, random buyers won prize NFTs that promise a Zoom call with Donald Trump, and tickets to a Gala Dinner at Mara
Lago among a dozen unique prize offerings. One could assume that politics will be the main topic at these events, but we’ll need regulatory bodies to determine if the primary NFT sale was kosher, or if it violated any campaign finance laws. Other political figures have dabbled in NFTs, like Andrew Yang with his GoldenDAO
and Blake Masters’s Zero to One book cover. While neither managed to bring in sales and attention like Donald Trump, these ventures into NFTs along with a recent FEC ruling are the writing on the wall, telling us that a new era for politicians raising funds is upon us. On their own, both NFTs and politics are polarizing, but combined you may get an outcome greater than the sum of its parts. NFTs would give politicians direct access to their constituents in the form of online communities, and regulators would have perfect transparency into fiinancing through the public ledger we call the blockchain. NFTs on the other hand would benefit from being legitimized by some of the most powerful people in the world. As the 2024 US election cycle ramps up, we’ll be watching to see if political NFT offerings rise along with it. If today’s announcement of Donald Trump’s Series 2 NFT Trading Cards is any indication of what’s to come, it’s going to be a spicy couple of years in NFTs.
A quick look at the Forkast 500 NFT Index shows the NFT market is up over 3% in the past 7 days, driven by a successful NFTNYC event last week along with Ethereum and Cardano both gaining in value over the same period. Folks want to play web3 games that are fun. Simple as that. That's why we built Dimension X! Dimension X is built by Crypthulhu Studios, a studio built of mobile gaming veterans. Here’s how Dimension X works: - You create an account with an email via Dapper Wallet
- You create teams using free “account-bound” sidekicks and NFTS that attack the boss.
- If you beat the boss you can
unlock more account-bound sidekicks and earn THUL (the in-game currency) to mint new NFT heroes that can be staked in-game or sold on the secondary marketplace
Each season has new sidekicks and a specialty event. And you can pick
up an NFT hero on the Gaia marketplace - the same marketplace that hosts NBA Top Shot! Dimension X has new game features every 3 months, so you never get bored. And they are expanding to
Ethereum in Spring 2023. Christies - Next Wave New York Edit
Date - Apr 12 - 19
Blockchain - Ethereum
Price
- Auction Starbucks - Starbucks First Store
Date - Apr 18
Blockchain - Polygon
Price - Silent Auction Getty Images x Candy - 70’s Music & Culture Vol 2
Date - Apr 18
Blockchain - Palm
Price - TBA Julien Gachodoat - Pathways
Date - Apr 20
Blockchain - Ethereum
Price - .028 ETH and .123 ETH AudioGalleries - Spring and Autumn by KrisK
Date - Apr 21
Blockchain - Ethereum
Price - .015 ETH Orange Comet - The Remarkables by Doodle Boy
Date Apr 25
Blockchain - Ethereum
Price - TBA |
A DAO is a decentralized autonomous
organization, which is just a fancy way to describe a decentralized structure of people connected by a central idea. DAOs are typically used to raise funds and allow governance, with members voting on how those funds are used while building out rules and structure. Members of DAOs receive voting power through weighted votes based on how many DAO NFTs or crypto each member holds. Get familiar with the term and how DAOs are used, and you’ll begin to see their unlimited potential
unfold. Happy Researching! Received this from a friend? Sign up for this twice-a-week CryptoSlam VIP newsletter. |
Coming up on our Next Episode Keep an eye out for our new podcast, coming up with Panini, one of the most active digital sports collectible communities in the industry. We will get into why their community utilizes CryptoSlam, what they are working on, and
more. Watch all of
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