What is Melania nft?
Melania Trump, the wife of the former US President who is famous for her pro-crypto views, has successfully sold one of her many NFTs.
However, blockchain data shows that NFTs were sold to their creators.
According to available information, the NFT "Head of State Collection, 2022", includes "three signed important items" that he wore during the visit of French President Emmanuel Macron to the White House in 2018.
How much is Melania Trump's NFT worth?
The collection was minted on the Solana blockchain and received good reviews from the public, the New York Times disclosing that the auction was won with a bid of approximately 1,800 SOL, or $170,000. However, a blockchain data would show that the address that generated the NFT sent $473,000 worth of USDC to the second address, then converted to 2 solanas, further sent to the third address, and finally this address won the auction.
A statement from the former First Lady's representative did not confirm who bought the said NFTs; Instead, they claim that "the essence of the blockchain protocol is to be completely transparent. Accordingly, the public can view each transaction on the blockchain. The transaction was made on behalf of a third party buyer.
It should be noted that this NFT transaction is not the first time Melania Trump has ventured into the crypto space. On the anniversary of bitcoin's genesis block, he launched NFT which is a digital watercolor painting of his own eyes. The actions of Melania Trump and her team in the crypto space are often referred to as "wash trading".
Criminals deposit funds into wallets under their control to carry out transactions and mislead the public into believing that there is a high demand for the asset.
Money-laundering traders made approximately $9 million from their trades in 2021. In a report, on the other hand, more than 80% of NFT transactions on Lookrayer are in fact WASH trading.
Some celebrities, including Paris Hilton, have had success selling their NFT collections. That hasn’t been the case for everyone. Speaking at an event in September, John Cena, pro wrestler and actor, called his attempt to sell 500 NFTs a “catastrophic failure,” as he was only able to sell 37.
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