Yahoo Finance senior columnist Rick Newman joins the live show to break down former President Trump’s new NFT venture and how it fits into the catalog of past Trump brand products.
DAVE BRIGGS: All right, NFTs are back in the news. But this time, it’s Non-Fungible Trump. Yes, the former president now has his own line of NFTs. And our senior columnist, Rick Newman, actually bought one of these trading cards. Rick, before we get to ya, I want to play this ad that somehow inspired you.
RICK NEWMAN: [LAUGHS]
[MUSIC PLAYING]
DONALD TRUMP: Hello, everyone. This is Donald Trump, hopefully your favorite president of all time, better than Lincoln, better than Washington, with an important announcement to make. I’m doing my first official Donald J. Trump NFT collection right here and right now. They’re called Trump Digital Trading Cards. These cards feature some of the really incredible artwork pertaining to my life and my career. It’s been very exciting.
[LAUGHTER]
DAVE BRIGGS: I’m sorry.
JARED BLIKRE: Taking on Mount Rushmore.
DAVE BRIGGS: I don’t– here’s the thing, Rick. I don’t know what “Saturday Night Live’s” going to do with that. There is no way to improve upon that, man. You cannot make that funnier. It’s like buying a movie theater in the spring of 2020. Which one did you buy, and why? Why were you inspired by that ad?
RICK NEWMAN: When I saw what was going on here– and, look, I’m no pioneer in NFTs. And I’ve been asking David Hollerith, our crypto reporter, to kind of guide me along. But when I saw what was happening here, I said, we got to buy one of these. So I Slacked my editor and said, can I buy one of these on the Yahoo Finance corporate card? And she said OK.
And you won’t believe it. I bought it for $99. And I just checked a couple of moments ago. Today it was worth $182. So Yahoo Finance is making money off of Trump. Now, you ask me, what– which card did I buy? I did not get a choice. It did not ask me what type of card I bought. I could have missed that on the entry form somehow. I just was kind of blindly going along.
And I got Trump, the baseball player. There you see him. I got Trump, the baseball player. He’s got very large hands, I noticed. And as I’ve been going through, looking at it– I’m sure you guys have been looking at some of the other Trump cards– I like the ones with cowboy hats because Trump looks ridiculous.
But it looks as if what they did is they sort of, like, took the body of Daniel Craig when he was playing James Bond, and they just photoshopped Trump’s face and then a bunch of different hats onto it. But they are– I guess they are Non-Fungible Tokens, NFTs. And there are 45,000 of them now.
JARED BLIKRE: Well, I got to tell you, we– I don’t know where to begin either, Dave. Do I have a question for you, Rick? I don’t really have a question. I mean, we did some mock-ups with our own computer CGI department here, and I don’t know if they’re NFTs or not, but came up with some pretty funny examples. But– and I don’t even know if we have them here to show you. Rick, what’s the next step here for Trump raising money besides the fact that he had to finance his– oh, there is one. We do have these available.
DAVE BRIGGS: This is real, Jared. I don’t know what you’re talking about.
JARED BLIKRE: OK, these–
DAVE BRIGGS: Rick, these are– Yahoo didn’t just buy a Trump NFT. We are creating our own. There was mine. There is Jared’s. Obviously, that’s his real body.
JARED BLIKRE: That one I don’t remember.
DAVE BRIGGS: And then the big reveal–
RICK NEWMAN: Guys, what’s your buy-in? Oh, yes!
DAVE BRIGGS: There’s yours, Rick. There’s yours.
RICK NEWMAN: Oh, my god! I made it!
JARED BLIKRE: My Biden is 5 Doge.
DAVE BRIGGS: So–
[LAUGHTER]
–here’s the thing. It doesn’t– Rick, and you listen to that ad, which I have about 97 times, it does not sound as though Trump’s heart is really in this. He literally says, you could have dinner with me, if you think that’s exciting. It doesn’t appear that he’s really into this, but maybe they’re making money. What’s your read on it? Good investment?
RICK NEWMAN: Well, I mean, I’m sure Trump is making money on this. There’s no doubt– I mean, he gets the money right off the top because this is the standard Trump format, which is it’s not his company. He licenses his name, and he gets a sweep right off the top for everything they sell. So I think this is money straight in the door for Trump, and I don’t think it matters what– even if these things would go to zero in the secondary market, I think Trump has already gotten his money by then.
But look, other prior presidents at this point, after they’ve been out of office, they’re starting their libraries. Jimmy Carter was doing work with voting rights in a bunch of other countries. And some of them, I guess, were trying to plan for what their political future might be. Barack Obama was developing a Netflix program.
Trump is hawking merchandise. That’s– he’s– that’s what he does. He’s a showman. And I guess he’s always a showman. And I just can’t imagine how this is going to morph into his 2024 presidential campaign, but I can’t wait.
DAVE BRIGGS: Well, I can tell you what. Digital World Acquisition Company is down like 9% today, so they don’t apparently love it. Where do you rank it with Trump Water, Trump Vodka, Trump Airlines, and some of the true beauties?
RICK NEWMAN: Honestly, that’s the reason I wanted to buy this. And my purpose is not to turn an $82 profit for Yahoo Finance. My purpose is just to follow this and see what happens. So some of those Trump– some of those Trump come-ons were really outright scams, and some of them were just cheesy.
So I think Trump Water is just cheesy. I think Trump University was a total con. And that’s really what I’m looking for here. So I will be having a story about this at some point in the future. For the moment, I’m just enjoying myself, guys.
JARED BLIKRE: Me too. Can’t wait for the story. I have nothing to add to this conversation.
DAVE BRIGGS: Clearly.
JARED BLIKRE: I think we’ve done it thoroughly.
DAVE BRIGGS: We noticed.
JARED BLIKRE: Yes. Yahoo Finance’s Rick Newman, thank you as always.
RICK NEWMAN: Bye, guys.
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"They played that song all the time for stuff when I was in elementary school, but it's about a girl cheating on her boyfriend with multiple people while he's away."View Entire Post ›
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