Melania Trump Launches Her First NFT Venture for 1 SOL

Unlike former president Donald Trump who has voiced out his stance against investment in cryptocurrencies on multiple occasions in the past by calling it “potentially a disaster waiting to happen”, Melania Trump has announced her first business venture on NFTs this Thursday, joining the boom in the world of digital currencies instead.

This venture, started by the former first lady as her first public move since leaving the White House, entails the selling of digital watercolor paintings that “embody Mrs. Trump’s cobalt blue eyes, providing the collector with an amulet to inspire,” according to an emailed statement that’s reported by Bloomberg. “An audio recording from Mrs. Trump with a message of hope” will also be included in these NFTs. The art for these tokens was created by French artist Marc-Antoine Coulon.

They will be available to buy from Dec 16 to Dec 31, and are priced at 1 Solana ($SOL) each, or approximated $180. Solana has been on the rise this week, with its current CoinMarketCap ranking at #5 at the time of publishing this article.

Revenue Distribution

Melania Trump is set to release NFTs in ‘regular intervals’, according to a news release, with a portion of the proceeds going to foster children. It’s still yet to be known as to what percentage of the proceeds will be donated, or whether the donations will be given to any specific foster child-related charities. No answer to this concern was received from Melania Trump’s press contact, when an email inquiring into how the donations will be structured was sent.

Nevertheless, Mrs. Trump has conveyed that sales proceeds from this venture will go to her Be Best initiative, to fund for the education of these children.

As per Business Standard, Aaron Dorfman, president and CEO of the National Committee for Responsive Philanthropy, noted that not specifying the amount of revenue going into charity is a huge red flag. “It means that charity is not a serious part of their plan. It’s a marketing ploy,” Dorfman points out.

Moneycontrol has also reported that the NFTs will be available on the Solana blockchain and seem to be powered by Parler, an infamous American microblogging and social networking service, which has a user base consisting majorly of Trump supporters, conservatives, far-right extremists and more.

Boom In The NFT Market

Non-fungible tokens integrate the creative dominion of arts with the digital realm of cryptocurrencies and the blockchain technology, and it’s managed to emerge as a significant marketplace over the past year.

NBA grabbed the opportunity to enter this sphere early in the year as NBA Top Shot tokens promptly caught fire across the globe, bringing worldwide attention to the crypto collectibles space. With WWE also grabbing this opportunity, these tokens seem to have really moved into the mainstream as artists like Lindsay Lohan, BTS, and Justin Bieber joined the movement into such ventures as well.

Just recently, even Pepsi came out with its own collection of 1,893 one-of-a-kind NFTs to celebrate its legacy and roots in music.

Coming back to the former first lady Melania Trump who released her venture into this market towards the end of this year, in accordance with her statement, this only marks the beginning of her NFT venture as she gets ready to release new tokens by the beginning of January 2022.

Sneh Dokania is an Economics major student with an inquisitive disposition seeking to articulate facts, information and news stories in a candid manner on Clout News.

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