As I was escorted through the circuitous hallways of Mar-a-Lago last weekend, I wondered if I should turn around and leave immediately. I had just arrived at the Trump NFT collection gala in West Palm Beach, Florida, in the presence of none other than Donald Trump himself.
It was both an honor and a shame to be there, and I wasn’t sure how exactly to respond. If my grandfather hadn’t been with me (I brought him and a friend as my guests, both ardent Trump supporters), I probably would have left. But his excitement was palpable, so I continued the long walk to the evening’s final resting place, the famous Gilded Ballroom.
I’m not a fan of Donald Trump. I never liked his bombast, I didn’t agree with most of his decisions as US President, and as a business owner I don’t like the way he supposedly treats the people he works with.
But despite these feelings, I spent almost $20,000 buying NFTs that directly supported him. It was a classic case of separating the art from the artist — except in this situation, the “art” of the NFTs was less about aesthetics and more about the ability to profit during a bear market.
I knew that if Donald Trump were involved in NFTs, it would likely be a big investment – as long as I timed things right. In the long run, his ventures don’t seem to be doing very well (Trump Steaks, Trump Shuttle, and Trump University are notable failures). But if the entry and exit is right, his companies have done fine in the past.
I kept this in mind when purchasing the NFTs: Trump will likely pump up prices, so I’ll sell into the hype. Essentially, I would use his marketing skills to enrich myself. The art was unremarkable, the creator controversial, but the profit potential was undeniable, so I decided to buy it.
It has paid off.
Of the 200 NFTs I purchased, I was able to more than recoup the cost by selling just one rare NFT. Additionally, I won a round of four golf at Mar-a-Lago, several copies of his new book, and sold many of the NFTs to other collectors during the post-release boom.
But through it all, I couldn’t shake the moral dilemma that haunted my mind.
While I was happy with the ROI, participating in the project led me to think deeply about the ethical dimensions of such decisions. When my conservative-leaning family asked me, “What was your best investment of the year?” Over the holidays, I had to sheepishly admit that it was an NFT collection released by a man I’d spent years trying to convince to reconsider their love for.
Yet attending the gala was not just about political alignment; it was more about family ties and an attempt to step out of my ‘elite bubble’. I justified my visit to the gala with the fact that my grandfather (who is an avid Trump supporter) would be able to meet one of his idols. It transformed the event into a generational bridge in which our political divisions were less central than our familial love.
Trump NFT Gala Dinner by Ogle
As I sat in the palatial ballroom for dinner, I was awed by the refined elegance that surrounded me. They served a three course meal and seemed to spare no expense. I could imagine the impact the ballroom itself would have made at high-profile gatherings over the years. Witnessing my grandfather’s joy in this environment, and especially when he was able to talk and shake hands with Trump, fully justified the decision to come.
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Although seeing President Trump in person did not influence my position on his international politics, the audience’s excitement over his words was enjoyable to experience. I didn’t agree with him, but being around excited and happy people is contagious. However, when I posted a photo of the gala on Twitter, its impact on my followers was immediate: they decreased in real time.
Clearly, my presence at the gala was taken by some as a conscious political statement, and once again, that made me uncomfortable.
But I believe Trump’s involvement in NFTs is a net positive for the industry. At the very least, it represents a soft endorsement of space (which we rarely get from politicians) and serves as a potential catalyst for growth, introducing a previously untapped demographic into the realm of digital assets.
My grandfather’s renewed curiosity about cryptocurrency and NFTs during and after the gala is a testament to this idea. His questions were constant and his curiosity evident – and it led to him deciding that it might be wise to invest some of his own money in the space if he is able to do so.
What started as a simple purchase of NFTs led to in-depth assessments of investment ethics, family ties and political neutrality. It required me to consider a fundamental question: Can one participate in opportunities that conflict with personal beliefs without losing one’s moral compass, or is the act of participation itself an affirmation of those beliefs?
I’m not sure I have answers to these questions yet, but I have to thank Donald Trump for indirectly causing me to face these complexities head-on. The experience reminds us that life’s most profound lessons can come from the simplest actions, often leading us down paths we never expected.
One thing I know for sure: the Trump steak was the best I’ve ever had.
Ogle has been an active investor in cryptocurrencies since 2012. He remains busy building several products to benefit the space, including his emerging network marketplace Shibuya. He is also building a new blockchain called Glue, which aims to address security risks and the lack of good user experience in the crypto space. Meanwhile, he hunts down cybersecurity criminals through his cybersecurity company, Ogle Security Group.