Much of the world is still wrapping its head around cryptocurrency, but now crypto art is storming the marketplace. These non-fungible tokens (NFTs) are secured blockchain-based records that represent pieces of digital or physical media and are bought using cryptocurrency. Similar to the way an original Van Gogh painting is worth more than the postcard, NFTs are a way for people to own the original pieces of art and their copyrights.
Donald Trump is the latest famous figure to throw his digital hat into the ring. On his social media platform Truth Social, he warned followers that he was going to make an "important announcement" on Dec. 15. Many expected he would be announcing his running mate for the 2024 presidential elections, but instead, he was putting up his first collection of NFTs for sale. The "official Donald Trump Digital Trading Card collection," as he called it, included 45,000 designs that featured the former president himself in various outfits and poses. For example, there was Trump dressed as a superhero with lasers shooting out of his eyes, Trump dressed in a camo outfit with a cowboy hat and shotgun, and Trump giving a thumbs up and a wink in front of the Statue of Liberty. He described it as "amazing ART of my Life & Career!"
Both Trump supporters and detractors mocked the collection of NFTs, with many finding it hard to believe the whole thing wasn't a joke. Regardless, the entire collection of 45,000 digital cards (costing US$99 each) sold out in less than 24 hours.
Whether they’re capitalizing on the popular market or symbolically exploring the concept of ownership and agency, click through to see which stars have hopped on the bandwagon, and get a little more clarity on how exactly NFTs work.