Former President of the United States, Donald Trump, made a lasting impression on nonfungible token (NFT) enthusiasts during a gathering at his Florida home. Aside from expressing his commitment to keeping crypto entrepreneurs in the United States, Trump also took credit for revitalizing the NFT market with his extensive collection. In an unintentional move, he even managed to boost the price of a political rival’s memecoin.
Various videos showcasing Trump’s memorable statements during the event circulated on social media. One clip captured Trump promising to create a more favorable regulatory environment for crypto businesses and entrepreneurs, citing the perceived hostility from the Biden administration and the Securities and Exchange Commission. When questioned about his plans to address this issue and retain innovators in the United States, Trump responded confidently.
Furthermore, Trump asserted that his collection of Mugshot NFTs and other artworks singlehandedly revived interest in NFTs when the market was experiencing a decline. This proclamation received an enthusiastic response from attendees, many of whom had purchased one of Trump’s Mugshot NFTs for a minimum price of $4,653 to secure an invitation to the dinner event.
Trump’s involvement in the NFT space extends beyond his Mugshot collection. He is also associated with digital art collectibles such as the Trump NFT Cards and POTUS and Melania Trump’s 1776 collection.
Unsurprisingly, Trump expressed his disapproval of the meme coin Jeo Boden (BODEN), which is linked to Joe Biden and currently possesses a market capitalization exceeding $260 million. He criticized the coin’s high valuation, stating his lack of confidence in such an investment. After Trump’s comments circulated, BODEN experienced a more than 10% surge in its value. In an interesting turn of events, a meme coin inspired by Trump, called Donald Tremp (TREMP), saw its value skyrocket by nearly 110% during the same period.
In addition to his remarks about meme coins, Trump humorously suggested that his political rival has no understanding of cryptocurrency. It is worth noting that Trump previously referred to Bitcoin (BTC) as a scam in 2021, but he has since become more accepting of it and the broader crypto industry. Nevertheless, he remains committed to upholding the dominance of the U.S. dollar within the traditional banking system. Trump recently emphasized that, under his leadership, the creation of a central bank digital currency would never be allowed.
The concept of a Mugshot NFT arose after Trump turned himself in to Georgia authorities in August 2023, following his indictment on charges related to his attempts to overturn the 2020 election. He is also facing charges in Georgia, Florida, and the District of Columbia for falsifying business documents in connection with a $130,000 payment to adult film star Stormy Daniels. Trump has been attending his criminal trial in New York since April 15, with court sessions taking place on most days except Wednesdays. Seizing the opportunity to host the NFT event, Trump flew down to his Florida residence on May 8.
Overall, Trump’s participation in the NFT gathering left a lasting impression on attendees and the broader crypto community. His statements and actions continue to generate significant interest and influence the market.