Analysis: Who convinced Donald Trump that Trump NFTs were a good idea?
This is in part because crypto itself has been hammered. It is also, in part, because the NFT fad has deflated. NFTs were hyped as a big innovation in art and collecting — but it quickly became apparent that “ownership” didn’t mean much, given how images could be shared, and that fraud was rampant. CNN figured it would jump into NFTs ... and then quicklyThe third problem with Trump’s effort is that the entire thing is far more Trump Steak than Trump 2016.
To be fair, the initial pitch from Trump doesn’t dwell much on the potential for that investment to increase over time, one of the reasons people got excited about NFTs in the first place. Instead, the initial pitch presented atcomes off more like you’re being asked to buy a pack of baseball cards.
A picture, mind you, that you “own” only conceptually. It’s a bit like those kiosks at the mall where you could buy pictures of Jesus doing different jobs, letting you, say, get a mug of Jesus helping a school-bus driver to give to your friend who drives a school bus. But at least then you got the mug., he found a way to generate a ton of money despite losing power.
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