Melania Trump has an NFT — what to know before you buy

Posted: 21 December 2021 3:19 pm
News
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The former first lady is the latest celebrity to try and cash in on the NFT craze.

Non-fungible tokens (NFTs) are hot and lots of people want to jump in.

Last week, former First Lady Melania Trump launched a platform for selling NFTs. The first limited-edition NFT is a watercolor image of her eyes titled “Melania’s Vision.”

The watercolor is by artist Marc-Antoine Coulon. The NFT is on sale until December 31st and costs one Solana (SOL) — a crypto coin that was trading at around $172 at the time of this writing. The NFT also includes an audio recording from the former first lady.

The announcement from Trump says she’ll release more NFTs in the new year, with a “one-of-a-kind auction of historical importance” coming next month.

A portion of the proceeds will go to “assist children aging out of the foster care system,” though the size of the portion was not specified.

NFT popularity continues to surge

NFTs represent digital versions of art, videos and audio that are verified and that have their ownership tracked using blockchain technology — the same technology that tracks cryptocurrencies.

Earlier this year, Square CEO and former Twitter CEO Jack Dorsey sold his first tweet ever as an NFT for over $2.9 million. Celebrities including Paris Hilton, Lindsay Lohan and Snoop Dogg have offered NFTs.

The creator can offer multiple versions the way an artist can offer prints. The announcement doesn’t say whether the number of copies of “Melania’s Vision” is limited.

NFTs can also be viewed as a speculative asset. You may buy an NFT in the hopes that it will go up in value so you can sell it for a profit.

The value of any investment can go up or down depending on news, trends and market conditions. We are not investment advisers, so do your own due diligence to understand the risks before you invest.

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