Melania Trump announces NFT venture

Dec 17, 2021, 12:23 PM | Updated: 1:38 pm

NEW YORK (AP) — In exchange for a cryptocurrency token, you can own a digital watercolor painting of Melania Trump’s eyes.

The former first lady launched a venture this week selling NFTs, or non-fungible tokens, on her website in exchange for a Solan token, currently valued around $180 each.

Melania Trump will release NFTs “in regular intervals” on her website, according to a news release, with a portion of the proceeds going to foster children. It’s unclear what percentage of the proceeds will be donated, or whether the donations will be given to specific foster child-related charities. An email inquiry about how the donations would be structured were not answered by Melania Trump’s press contact.

Aaron Dorfman, president and CEO of the National Committee for Responsive Philanthropy, says when a company says “a portion of the proceeds” will go to charity without indicating specifically what amount, “It’s a huge red flag.”

“It means that charity is not a serious part of their plan,” Dorfman said. “It’s a marketing ploy.”

The Trump family has a troubled history with charities, though Melania Trump was not directly involved in a clash over a charity the family ran in New York.

While still president, Donald Trump paid a $2 million court-ordered fine after conceding he used his charitable foundation as a personal piggy bank. The fine was ordered to be distributed amongst eight charities.

The Trump Foundation was dissolved.

In addition, Trump agreed to restrictions if he were to form a new charity or foundation and New York State required mandatory training for his children, Donald Trump Jr., Ivanka Trump, and Eric Trump, who were all involved with the Trump Foundation.

Non-fungible tokens are essentially digital certificates of authenticity that can be attached to art, music or any other type of digital file. NFTs confirm an item’s ownership by recording the details on a digital ledger known as a blockchain, which is public and stored on computers across the internet, making it effectively impossible to lose or destroy.

An NFT by the digital artist who goes by Beeple sold for nearly $70 million earlier this year. It sparked huge interest in the digital technology that has been around for several years, piggy-backing on a Bitcoin craze that made blockchain a household word. Digital cat characters were selling for six-figure sums as far back as 2017 and today you can buy digital LeBron James basketball highlight NFTs for anywhere from a couple bucks to nearly a quarter of a million dollars.

While often pitched as a fun hobby like collectibles because their values fluctuate, many treat NFTs as an investment. Like cryptocurrency, they are largely unregulated and many experts warn against putting money into them.

Copyright © The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

AP

This image released by Bleecker Street shows Freida Pinto, left, and Zawe Ashton in a scene from "M...
Associated Press

‘Minions’ set box office on fire with $108.5 million debut

Families went bananas for Minions this weekend at the movie theater. ” Minions: The Rise of Gru ” brought in an estimated $108.5 million in ticket sales from 4,391 screens in North America, Universal Pictures said Sunday. By the end of the Monday’s July Fourth holiday, it will likely have earned over $127.9 million. The […]
21 hours ago
FILE - Argentina's Economy Minister Martin Guzman walks outside of the International Monetary Fund,...
Associated Press

Argentina has new economy minister after abrupt resignation

BUENOS AIRES (AP) — Argentina got a new economy minister late Sunday, a day after the abrupt resignation of her predecessor shook the governing coalition at a time it was already facinga crisis of unity. Gabriela Cerruti, the presidency’s spokesperson, wrote on Twitter late Sunday that Silvina Batakis will now head the Economy Ministry, replacing […]
21 hours ago
FILE - More than 100 opponents of the Republican redistricting plans vow to fight the maps at a ral...
Associated Press

Abortion ruling puts spotlight on gerrymandered legislatures

In overturning a half-century of nationwide legal protection for abortion, the U.S. Supreme Court ruled that Roe v. Wade had been wrongly decided and that it was time to “return the issue of abortion to the people’s elected representatives” in the states. Whether those elected officials are truly representative of the people is a matter […]
21 hours ago
People salute the casket of Hershel "Woody" Williams set up in the first floor rotunda of the West ...
Associated Press

WWII Medal of Honor recipient to lie in honor at US Capitol

WASHINGTON (AP) — Hershel W. “Woody” Williams, the last remaining Medal of Honor recipient from World War II, will lie in honor at the U.S. Capitol, House Speaker Nancy Pelosi and Senate Majority Leader Chuck Schumer said Sunday. A date and other details will be announced later, Pelosi and Schumer said in a joint statement. […]
21 hours ago
Associated Press

West Africa leaders lift sanctions on 2 junta-led neighbors

ACCRA, Ghana (AP) — West African leaders attending a regional summit agreed Sunday to lift sanctions on two neighbors led by military governments that are now promising a return to democratic rule. The summit of the Economic Community of West African States resolved to lift all economic and financial sanctions imposed on Mali and Burkina […]
21 hours ago
People evacuated from the Field's shopping center gather outside,  in Orestad, Copenhagen, Denmark,...
Associated Press

Several dead in Copenhagen mall shooting; suspect arrested

COPENHAGEN, Denmark (AP) — A gunman opened fired inside a busy shopping mall in the Danish capital on Sunday, killing several people and wounding several others, police said. A 22-year-old Danish man was arrested after the shooting, Copenhagen police inspector Søren Thomassen told reporters, adding there was no indication that anyone else was involved, though […]
21 hours ago

Sponsored Articles

...
Dr. Richard Carmona

Great news: Children under 5 can now get COVID-19 vaccine

After more than two years of battle with an invisible killer, we can now vaccinate the youngest among us against COVID-19. This is great news.
...
CANVAS ANNUITY

Best retirement savings rates hit 4.30%

Maximize your retirement savings with guaranteed fixed rates up to 4.30%. Did you know there is a financial product that can give you great interest rates as you build your retirement savings and provide you with a paycheck for life once you retire? It might sound too good to be true but it is not; this product is called an annuity.
...
Carla Berg, MHS, Deputy Director, Public Health Services, Arizona Department of Health Services

Update your child’s vaccines before kindergarten

So, your little one starts kindergarten soon. How exciting! You still have a few months before the school year starts, so now’s the time to make sure students-to-be have the vaccines needed to stay safe as they head into a new chapter of life.