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In the 24-hours period after Donald Trump's presidential election win, the Trump NFT collection recorded a sales volume of $17,000+, marking an impressive 963% increase over the previous day.
How Donald Tokenized His Brand Using Trump NFTs?
While the surge of Trump NFTs is largely attributed to his recent election win, the Trump brand occupies a unique position as it crisscrosses the cultural, commercial, and political landscapes by blending the celebrity status, business acumen, and political influence of Donald Trump. The success of Trump NFTs indicates that the brand loyalty of Trump supporters is less about product attributes and more about ideology and personal connection. This loyalty extends into products like Trump NFTs, where the audience is driven by association with his brand values rather than the inherent value of the NFTs themselves.
Trump’s election win has supercharged his brand but the loyalty of his NFT supporters dates back to December 2022 when the first collection of Trump Digital Trading Cards was launched.
- First Collection (December 2022)
- Second Collection (April 2023)
- Mugshot Edition (December 2023)
- Fourth Collection (August 2024)
All in all, the Trump Digital Trading Cards NFT collection has generated $35+ million in sales volume through 55,000+ transactions by 14,000+ owners.1
How Web3Auth is Supporting the User Journey of Trump NFTs?
The success of Trump NFTs exemplifies the viability of NFTs as a brand engagement tool particularly when combined with the use of Web3Auth to cater to the user journey of non-crypto natives as illustrated by the manner in which Web3Auth is making the process for buying Trump NFTs as easy as 1,2,3.
Step 01: Use Web3Auth’s social logins to enable users to sign up with an email address.
Step 02: Use Web3Auth’s fiat onramp aggregator to provide users with fiat payment options.
Step 03: Use Web3Auth’s NFT services to offer users a seamless NFT minting and checkout experience.
The key role of Web3Auth’s easy onboarding solutions in making Trump NFTs accessible to non-crypto natives is illustrated by the fact that more than 50% of users who purchased Trump NFTs created their wallets using social logins.2 Developers and Web2 companies looking to use NFTs as a brand engagement tool can further improve their user experience (UX) using the additional features of Web3Auth’s suite of products and services.
Seed Phrase-Free Multi-Factor Authentication (MFA)
Web3Auth’s MFA system integrates multiple authentication factors, such as social logins, devices, or recovery phrases to allow users to recover their wallets if they lose access to one factor without having to remember seed phrases. For example, users can log in with a one-click social account and later add layers of security, like an email backup or a passphrase. With Web3Auth’s SDKs, you can choose from MFA setups ranging from simple one-click to multiple backup shares to safeguard the recovery of your users’ NFTs,
White Labeling Customization Options
Web3Auth’s white labeling solutions allow your business to incorporate your logo, brand colors, and design elements within the interface of Web3Auth authentication flow. By allowing you to control the appearance and flow of your business’ authentication interface, Web3Auth supports a UX that is aligned with your brand's identity to strengthen user trust and engagement. Web3Auth’s white labeling solutions are available for our NFT minting and checkout interface. Try it out here.
Multi-Party Computation (MPC) Security
Web3Auth employs MPC technology to enhance security without compromising accessibility. MPC enables the distributed computation of cryptographic operations, such as private key generation, in a way that never reveals the full private key to any single party. Instead, key shards are stored separately and only interact during the signing process, effectively reducing the risk of single-point-of-failure attacks. This approach ensures that the wallets in which your users’ NFTs are stored remain highly secure even if part of the system is compromised.
Next Steps
Follow in Trump’s footsteps by tokenizing your brand using NFTs. Start by checking out the resources for our social logins, fiat onramp aggregator, NFT services, MFA, white labeling solutions and MPC security. Once you are done, it’s time to tokenize your brand using NFTs by setting up a call with our business team.
Hop on a call with us to explore tokenizing your brand using NFTs as they are back in the groove with the upcoming launch in December 2024 of version 2.0 of OpenSea 2.0 aka OpenSea V2 that will be powered by account abstraction to make NFTs more accessible.3 The improving accessibility of NFTs has prompted mainstream brands such as McDonald's to partner with Doodles for its “GM Spread Joy” campaign that features limited-edition McCafé cups with Doodles-inspired NFT artwork.4
Sources:
(1) Polygon NFTScan, “Trump Digital Trading Cards” - https://polygon.nftscan.com/0x24a11e702cd90f034ea44faf1e180c0c654ac5d9
(2) The Defiant, "Trump's Latest NFT Collection Bags $1.7M In 24 Hours" - https://thedefiant.io/news/nfts-and-web3/trump-s-latest-nft-collection-bags-usd1-7m-in-24-hours
(3) DappRadar, “Everything You Want to Know About OpenSea 2.0, the Airdrop and New Features” - https://dappradar.com/blog/opensea-nft-marketplace-token-launchpad-airdrop-features
(4) CoinTelegraph, “McDonald’s Partners with Doodles for Collector Cups, Online Promotion” - https://cointelegraph.com/news/mcdonalds-doodles-holiday-cups
