Former US President Donald Trump features in Today’s Top news as he helps bring Wall Street to the attention of a small digital content company based in northern New Jersey. Tech company named ‘Creatd’ is selling an NFT of a young Donald Trump signing a model’s breast.
The company is one of a handful to rally like a meme stock after Trump’s entry into the SPAC world last week. After this announcement, the company experienced a shot up in shares by 68%. The NFT, or non-fungible token, features “three candid images of a young Donald Trump, captured as he signs the breast of a model, surrounded by a crowd at a large formal gala,” according to a Monday press release from the company. It sells 240 Ethereum Trump NFTs-or just over $ 1 million based on the latest price Of cryptocurrency.
Creatd founder and CEO Jeremy Frommer said-
“They say a picture is worth a thousand words, and Trump’s pictures are no exception, We waited a long time to sell these priceless images captured for decades before they took on the meaning and symbolism they have today.”
The company got the image from a Creatd’s OG Collection, a library of thousands of photographs, illustrations, and videos from the archives of Bob Guccione, who once owned publications like Penthouse and Viva.
Creatd, which employs about 50 full-time workers in Fort Lee, New Jersey, hopes to monetize the ongoing craze for NFTs. The company launched its first series of NFTs last month. In a blog post, Creatd founder and CEO Jeremy Frommer said-
“The company is still in the research and development phase of digital assets. He said Creatd is selling the Trump trio on OpenSea because it’s the “eBay for NFTs.” The company did not immediately respond to Insider’s request for further comment.”
Created Trump’s NFT Craze
Laurie Weisberg, Co-CEO of Creatd, said
“Trump NFT will help the company continue exploring NFT spaces and take advantage of the financial opportunities that can be nurtured for the creator community.”
In a press release, Creatd said,
“We will continue to release our own NFTs,” and Weisberg “represents an opportunity to stimulate conversations and discuss perspectives, from sharing gentle and wisecracks to enthusiastic political decisions.”
Creatd’s market splash comes just days after the stock price of Trump’s new social media venture also soared. Shares of blank-check company Digital World Acquisition Corp. surged as much as 1,200% on Friday. The stock price for DWAC eventually dropped 11% after two hedge funds — Lighthouse Investment Partners and Saba Capital Management — sold off their shares. Still, DWAC stock was trading at around $70 a share with a market cap of more than $2.5 billion as of late October.