Inside the NFT craze beloved by celebs as Melania Trump launches platform for fans to buy a drawing of her EYES

FORMER First Lady Melania Trump has launched a platform for fans to purchase NFTs of a drawing of her eyes, with a portion of proceeds going to children in foster care.

You now can purchase the exclusive drawing of Trump's eyes along with other limited edition non-fungible tokens (NFTs) entitled "Melania's Vision" on her website.


"MELANIA'S VISION"

The cheeky title comes from an NFT drawing of the former first lady's eyes that will be available for purchase for a limited time from December 16 through the end of the month.

Trump plans on releasing the NFTs in intervals on her site, with the project backed by the free-speech social network Parler.

The "vision" will include a picture of her eyes as well as an audio message from Trump, and is set to go on sale for 1 Solana coin, or about $175.

Trump's releasing the NFTs in intervals of three: one for digital artwork, one for physical artwork, and a physical historical accessory which will be auctioned off in January.

The drawing of her eyes comes from French artist Marc-Antoine Coulon.

WHAT HAS MELANIA SAID ABOUT THE PROJECT?

Trump spoke to Breitbart regarding the platform and why she chose to push her project as the latest NFT fad.

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“Since leaving the White House, I have envisioned creating a new platform where Freedom of Speech can flourish,” Trump said.

“My new NFT gallery uses the decentralized nature of Blockchain Technology, and gives a direct connection to people worldwide”

Read our cryptocurrency live blog for the very latest news and updates…

“My love of the arts is showing in my first NFT, Melania’s Vision, which I created with artist, Marc-Antoine Coulon."

"A portion of the sales from NFT will be donated to children in the foster community."

"My Be Best initiative, Fostering the Future, will provide students a range of technology skills to prepare them for the workforce."

"I am excited to inspire America’s next generation of entrepreneurs.”

WHAT ARE NFTS

Although an odd premise to essentially own bragging rights for a piece of art, NFTs are united of data stored on blockchains, which is the same tech that is used for cryptocurrencies like Bitcoin and Ethereum.

They are used to show proof of ownership of a digital or physical asset like pictures, videos and audio files.

The best physical comparison would be like a certificate of authenticity for a certain piece of art – only NFTs show the item is absolutely authentic as opposed to copies or fakes.

People can purchase SOL through various cryptocurrency sites, or can purchase tokens by credit card on Trump's site.

The NFT platform will use Solana blockchain protocol and take payment through Moonpay while right-wing social network Parler is behind "powering the platform."

WHICH OTHER CELEBS ARE DOING NFTS?

NFTs are taking over the stardom world, with plenty of names turning to the platform to sell some of their own art.

Fashion brands, sports leagues and celebrities have all turned to the trend, which exploded in popularity in 2021.

People like Paris Hilton and Grimes launched a series of NFTs that quickly sold out.

Musician Grimes has also raised $6 million by selling several pieces of digital artwork at auction through NFT marketplace Nifty.

Snoop Dogg revealed he is a fabled white whale known in the NFT world and has amassed well over $17 million in NFT items.

NFL superstar Tom Brady launched a sports NFT platform that sells signed NFTs in retro 8-bit style.

And everyday comedian Jimmy Fallon is a big fan of the Bored Ape Yacht Club NFT.

Kings of Leon has released its latest album as an NFT, which includes exclusive artwork and gig tickets. It has raised $1.45 million so far according to crypto website Cointelegraph.

However, that's not the case for all stars – John Cena called his attempt to sell a series of 500 NFTs for $1000 each a "catastrophic failure" and only ended up selling 37.

Why are NFTs popular?

NFTs have become a desirable collectable as influencers, artists and celebrities use them to promote products.

It gives collectors a chance to own a unique digitized item such as art, music and even trading cards.

There is already a dedicated NFT trading card series called Blockchain Heroes.

NFT ownership history and transactions are stored on the blockchain which provides a form of authenticity and helps avoid fakes.

Digital artist Mike Winkelmann, known as Beeple, sold an NFT at auction with Christie's this week for a record $69.3 million.

The work, called Everydays: The first 5,000 days, was a digital collage he had worked on each day since 2007.

A new piece of digital artwork was created and added by Beeple everyday for 5,000 days from May 1 2007.

Some of the funds raised will go towards the Crew Nation Fund, which supports live music crews affected by the pandemic.

How risky are NFTs?

Buying an NFT, like any collectible, is a risky bet on the value going up.

If there is no demand for the NFT you buy then you could end up paying a large amount for something that declines in value or that you cannot sell.

NFTs are still a new market so there is unlikely to be the same demand you will find for other physical items such as trading cards, art or classic cars.

You could also create your own NFT but there is no guarantee of a buyer and you could end up wasting your time and money.




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