Trump launches non-fungible tokens

Former U.S. President Donald Trump has launched a collection of digital trading cards, depicting himself in various glitzy guises
       

In launch video, animated version of Trump rips open his shirt to reveal superhero costume as lasers shoot from his eyeballs!

45,000 images (NFTs) can be collected like baseball cards, stored digitally and/or traded. Buyers are also entered into sweepstakes for prizes including dinner with Trump

Announcement has been ridiculed on social media from likes of President Biden and
high-profile Republican Steve Bannon


WHAT IS NON-FUNGIBLE TOKEN (NFT)?

Cash is fungible – $100 bill can be exchanged for five $20 bills

Non-fungible means it cannot be subdivided, substituted or copied. Its unique digital identifier is recorded in blockchain (below) and used to certify authenticity and ownership
     
Example of popular NFT collection is Bored Ape Yacht Club. In April, price for one of its NFTs peaked at $408,150. Value has since plunged to around $82,000 per NFT
     

Sources: Bloomberg, CNET, NFT Price Floor 
Pictures: NFT INT, Creative Commons 
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