An on-chain analyst has delved into the crypto wallets of the recently launched Donald Trump (Non-Fungible Tokens) NFT collection. And found that “there were 1,000 self-minted NFTs.”
On-Chain Analyst’s Tweet
On Dec. 17, 2022 in a long-tailed twitter thread, the analyst wrote that “Donald Trump minted a thousand of his own NFTs to his vault wallet. Keeping a giant portion of the most rare NFTs in his collection for himself. The second minted NFTwas a rare 1-of-1.”
It further added in its tweet that “The vault wallet, a gnosis safe, was created on 2022-12-14. A day before the DT NFT launch. And on the launch day, a DT funding wallet sent matic to a DT admin wallet. Which then minted 1k NFTs to the gnosis safe.”
The analyst also quoted that “Donald Trump wallet minted 47 of the 179 1/1 and 21 of the 70 autographed NFTs. He owns 26% of 1/1s and 28% of autographed. While, 0.40% have a 1/1 trait and only 0.16% have an autograph trait. These are the most rare and valuable NFTs in the collection ..”
It further found that “all metadata and artwork are centrally stored off-chain. Ppl that have access to the domain/storage can change properties and artwork without being able to verify this on the blockchain.”
Moreover, “the site mentions only making 44k NFTs available. However, it doesn’t mention minting the remaining 1000 to their own wallet and taking 26% of 1-of-1 rares and 28% of autographed rares. They could’ve simply reserved the remaining 1k,” as per the tweet.
The on-chain analyst ended the tweet with “Extra outline on how they minted the first thousand Donald Trump NFTs to the gnosis safe. * buyers had a strict limit of a 100 max NFT per purchaser/household.”
According to the BBC News report, the former U.S. President promoted the “limited-edition cards,” and said one could “make a great Christmas gifts.” On Truth Social, Mr. Trump said the NFTs were “very much like a baseball card, but hopefully much more exciting”.
However, the former U.S. President, Donald Trump, “launched his own NFT collection on Dec. 15, 2022. And within a few hours, the collection of Trump Digital Trading Cards had sold out. Strange! but the OpenSea NFT marketplace already has some of these listed at wildly inflated prices.”
As per the OpenSea platform, at the time of writing there were 45,000 of Trump Digital Trading Cards.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing
Source: https://www.thecoinrepublic.com/2022/12/21/donald-trump-nft-collection-sold-out-in-hours-see-an-analyst-report/