Melania Trump's recent crypto auction flops

Melania Trump's recent crypto auction flops

Former First Lady Melania Trump’s 14-day crypto auction has ended, with the sale of a physical hat, as well as two other items, coming in far below the starting bid of $250,000. 

The auction of the “Head of State” collection was announced in December last year, and received support from former President Trump, who touched upon his wife’s NFT endeavor in an interview with Fox Business, noting ““she’s got a great imagination and people love our former first lady”.

Last month Melania announced her first NFT offering, titled Melania’s Vision (2021),a watercolor of the former First Lady’s eyes by French artist Marc-Antoine Coulon. 

“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,” Melania is quoted as saying. “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 physical sale of the hat originally worn by Melania Trump in 2018 during the state visit of the French president, ended on Wednesday, accompanied by an NFT and a watercolor of Trump. Trump’s website addressed the significance of the state visit stating: “Mrs. Trump recognized this important moment for the country, and accordingly, a great deal of consideration went into the planning,”

Unfortunately for the former First Lady, the auction coincided with the cryptocurrency market crash. Buyers could only make bids with Solana (SOL) which has fallen more than 40% over the past week. 

The initial price of $250,000 for the set was not met, and the value of the tokens by the end of auction came to a total of $162,144, far below the initial asking price. Only five bids were placed during the duration of the auction, with a winning bid of 1,800 SOL.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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