Former United States President Donald Trump’s NFT collection is aiming to boost sales of his controversial Mugshot Edition nonfungible tokens (NFTs) by offering a unique incentive. The project’s team has announced that users who purchase 100 or more Mugshot Editions of Trump Digital Trading Cards NFTs will receive a “One-of-One” trading card as a Bitcoin Ordinal NFT.
Collectors of Trump’s NFTs are offered the opportunity to acquire a limited edition “One-of-One” Bitcoin Ordinal NFT. Only 200 unique Ordinals NFTs will ever be minted, and they are exclusively available to users who have spent a minimum of $9,900 by purchasing at least 100 of the latest Mugshot NFTs, each priced at $99.
Trump’s Mugshot NFT collection was launched in December 2023 on the Polygon network. Collectors could acquire Mugshot NFTs using credit cards or Wrapped Ether (WETH).
Notably, both the Mugshot NFTs and the Ordinals are subject to trading restrictions until December 2024. These restrictions are designed to discourage their use as “investment vehicles” and emphasize that the NFTs are intended for “individual enjoyment only.”
In related NFT news, the Pudgy Penguins NFT collection reached a new all-time high on January 17, with a peak floor price of 19.05 ETH, equivalent to $47,000. The collection experienced a significant price increase, rising from 10.78 ETH to 17.8 ETH within just seven days. This surge in value is notable, especially when compared to some other prominent NFT collections like the Bored Ape Yacht Club, which have seen declining prices for their holders.
Much of the Pudgy Penguins project’s sustained growth has been attributed to the project’s owner, Luca Netz, who acquired the project in April 2022. Netz has adopted a unique approach to building the project by creating additional revenue streams, including the sale of plushie toys, and by fostering the project’s Instagram presence, which is primarily focused on raising awareness about mental health.
In conclusion, the Trump NFT collection is utilizing the allure of limited edition Bitcoin Ordinals to incentivize collectors to purchase Mugshot Editions, while the Pudgy Penguins NFT collection has seen a significant increase in value attributed to its owner’s innovative strategies and community engagement.
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