- Politicians are exploring NFTs for fundraising and building a digital community.
- Sales and acquisitions of its collections for political campaigns help to improve accountability and transparency.
- Donald Trump tops the list of politicians with record sales with their collections.
NFTs thrive on buzz, attention, and funding. So the more people talk about this digital art— including its reach and influence — the more the adoption increases.
At the time, giants in the entertainment industry, such as Justin Bieber and Snoop Dogg, were the industry players in the ecosystem. Their ownership of such collections led to the massive adoption of this new digital asset.
However, we have shifted from that era and are now moving to the period of politicians being at the forefront of the digital art ecosystem.
Politicians and NFTs
One would wonder about the intersection or connection between NFTs and politicians. However, they are two entities that have come together to form a symbiotic relationship that is mutually beneficial to both entities.
As earlier said, this art thrives on attention and buzz. Therefore, politicians with large and decorated followership are exploring this ecosystem.
if you think NFTs will not affect politics, you are wrong. it is just a new tool for bringing people together, it can be used for good or bad.😔🙏— beeple (@beeple) December 13, 2021
A few of them have dived into the ecosystem by launching special collections.
They promote it while their followers collect these collections— as a show of loyalty, financial support, and commitment to the cause. In addition, these followers can access an online community when they acquire the NFT collections.
More so, every acquisition and sale of these collections is permanently recorded on the blockchain. This public ledger ensures transparency and enables regulators to monitor and scrutinize this form of financing.
It is expedient to identify some of the notable politicians that have ridden on its wave.
The former American president released his digital art collection, Trump Digital Trading Cards, in December 2022. The collection featured 45,000 collectibles of Donald Trump in different outfits at US$99 per piece. Unfortunately, the entire 45,000 units were sold out shortly after the public launch.
Interestingly, at the initial sales, buyers stood a chance to win prized NFTs that promised a Zoom call with Trump, tickets to a Gala Dinner at Mara Lago, and other unique prize offerings.
While Donald Trump had a good outing in the ecosystem, whether the collectibles were sold for political fundraising or purely digital arts remains to be determined.
Another political figure that has dabbled in the ecosystem is Andrew Yang. The former presidential candidate launched his GoldenDAO, focusing on social activism.
According to GoldenDAO’s whitepaper, the mission is to “collectively advance AAPI solidarity and empowerment through real-world events and gatherings, and web3 infrastructure and initiatives.”
To earn membership in the decentralized autonomous organization, his followers and interested individuals had to purchase an NFT at its public minting on March 31st.
Governor Jared Polis of Colorado launched his NFT collection to raise funds. The Polis NFT has 2,022 digital tokens comprising a pair of sneakers, a green chili pepper, rainbow-colored mountains — and Polis’ dog Gia, firing lasers from her eyes.
The average price for one of these digital collectibles stands at $52.80. But, interestingly, you can only buy them and hold them; you can’t sell them (for now).
Arizona’s senate candidate in the Republican party is offering NFTs with a limit of 99 copies. His collection is based on the early cover art for his book “Zero to One.” He co-authored the book with billionaire entrepreneur Peter Thiel in 2014.
Blake’s NFT collection is available as an “Origins NFT” offered to anyone who donates $5,800 to his upcoming Senate run. He said donors would get a 50% refund if he didn’t win the Senatorial seat in August 2022. However, he won the election.
NFTs have proven, in such a short time, that they can be a disruptive force in the DeFi market. While unexpected, politics may be the trojan horse for more NFT adoption.
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