Former first lady Melania Trump announced recently that she will be selling NFTs (nonfungible tokens) on her websites, as she becomes the latest celebrity to join the digital collectible frenzy.
In exchange for a Solana token valued at $180 each, you can own a digital watercolor painting of Melania Trump’s eyes. Her husband Donald Trump was all praises for the Slovene-American former model’s latest venture even as he has criticized crypto in the past.
Excited for this new venture, which combines my passion for art and commitment to helping our Nation’s children fulfill their own unique American Dream. #MelaniaNFT https://t.co/XJN18tMllg pic.twitter.com/wMpmDDsQdp— MELANIA TRUMP (@MELANIATRUMP) December 16, 2021
According to a news release, Melania Trump will regularly publish NFTs on her website. A portion of the proceeds will go to foster children. It is unclear how much of the proceeds will go to charity as Melania’s press contract hasn’t been addressed the donation structure issue yet.
“I am proud to announce my new NFT endeavor, which embodies my passion for the arts, and will support my ongoing commitment to children through my Be Best initiative. Through this new technology-based platform, we will provide children computer science skills, including programming and software development, to thrive after they age out of the foster community,” the first lady said in a statement.
Non-fungible tokens can be attached to artwork, music or other digital files. NFTs are digital certificates of authenticity that confirm ownership. The details are recorded on a digital ledger called a blockchain and made public on computers all over the internet. It is virtually impossible to lose or destroy.
An NFT made by digital artist Beeple was sold for almost $70 million in January. The NFT, which has been around for many years, benefited from the Bitcoin craze to make blockchain a household name and sparked huge interest. As far back as 2017, digital cat characters were being sold for six-figure sums. Today, you can purchase digital LeBron James basketball highlights NFTs starting at a few dollars to almost a quarter million dollars.
NFTs are often marketed as a hobby or collectible, but many people view them as an investment.
DONALD TRUMP: Crypto is very dangerous. It could be an explosion like we have never seen before pic.twitter.com/QQPSsftpL6— Blockworks (@Blockworks_) December 22, 2021