Melania Trump’s White Hat NFT Auction Yielded Less Profit Amid Market Dip
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- The most significant price was valued at roughly $170,000.
- Only Solana (SOL) tokens could be used to place the bids.
An online auction of a hat worn by Melania Trump during a 2018 visit to the White House with President Emmanuel Macron of France has become a victim of the crypto market crisis. Trump decided to put on an online auction of the white, broad-brimmed hat and a watercolor painting with an animated depiction of her wearing the hat dubbed a non-fungible token (NFT).
According to a press statement from Trump in early January advertising the auction, the three-piece package dubbed ‘Head of State Collection, 2022’ was expected to open with a minimum bid of around $250,000. Only SOL, Solana blockchains cryptocurrency, could be used to place the bids, and at the time, SOL was worth around $170 per token.
A Portion of Proceedings to Assist Foster Care Children
However, the value of SOL and most other cryptocurrencies have fallen significantly in recent weeks. Before the close of the auction, each SOL was valued at approximately $95.
Early Tuesday evening, there seemed to be just a few offers on Trump’s items, and the most significant price was valued at roughly $170,000, with the precise dollar worth moving with the turbulent crypto market. Wednesday morning, the auction was scheduled to end at 2:59 a.m. Even if Trump’s goal price isn’t met, the winning offer might still be higher. However, the opening offer will be substantially lower than what she had intended.
According to Trump’s statement, “a portion” of the proceeds would be utilized to assist foster care children with access to computer science and technology educational programs.
Cryptocurrency
