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Saturday, Jan 22, 2022

Former US First Lady Melania Trump Joins Crypto Boom With New NFT Venture

Former US First Lady Melania Trump Joins Crypto Boom With New NFT Venture

A non-fungible token (NFT) is a digital object that can be a drawing, animation, piece of music, photo, or video with a certificate of authenticity created by blockchain technology.
Former US first lady Melania Trump on Thursday launched her own NFT platform, the latest public figure to join the crypto boom.

A non-fungible token (NFT) is a digital object that can be a drawing, animation, piece of music, photo, or video with a certificate of authenticity created by blockchain technology. This authentication by a network of computers is considered inviolable.

A portion of the proceeds from Melania Trump's NFT collection will be used to help children in foster care.

"I am proud to announce my new NFT endeavor, which embodies my passion for the arts, and will support my ongoing commitment to children through my Be Best initiative," Trump said in a statement.

"Through this new technology-based platform, we will provide children computer science skills, including programming and software development, to thrive after they age out of the foster community."

The first NFT, a watercolor by the French artist Marc-Antoine Coulon titled "Melania's Vision," will be available for purchase through the end of the year for the price of 1 SOL, the cryprocurrency of the Solana blockchain protocol, (approximately $150).

Coulon, a fashion illustrator, has been published in magazines, including Vogue, Vanity Fair, and ELLE, according to his website.

The limited-edition piece of digital artwork "embodies Mrs. Trump's cobalt blue eyes, providing the collector with an amulet to inspire," according to the statement. It also includes an audio recording from Melania Trump "with a message of hope."

The Melania Trump NFT platform will run on Solana and will accept both the SOL cryptocurrency and credit card payments.

This is Melania's Trump first public project since she left office a year ago.

Using the blockchain technology behind cryptocurrencies, NFTs transform anything from illustrations to memes into virtual collectors' items that cannot be duplicated.

NFTs rocketed into the mainstream this year and are now traded at major auction houses, generating several hundred million dollars in transactions every month.
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