As the United States gears up for another seismic presidential election, a peculiar and often bewildering phenomenon has taken root in the digital landscape: politically themed cryptocurrencies and Non-Fungible Tokens (NFTs). Forget traditional campaign donations and bumper stickers; in the decentralized realm of blockchain, allegiance and speculation manifest as meme coins, collectible digital cards, and even bizarre tokens inspired by conspiracy theories. While many mainstream political figures remain wary of or outright hostile towards crypto, a vibrant, if not entirely rational, ecosystem has sprung up, attempting to capitalize on the fervor and unpredictability of American politics.
This isn’t just about expressing support for a candidate; it’s a volatile blend of fandom, speculation, and internet culture, all playing out on the transparent yet often opaque stage of the blockchain. From officially sanctioned digital collectibles to grassroots meme coins with outlandish premises, the spectrum of these election-themed crypto projects is as diverse and unpredictable as the political landscape itself. Decrypting this digital sideshow reveals a fascinating, and at times absurd, intersection of technology, politics, and the ever-present allure of potential financial gain.
The Official Stamp of Approval (Sort Of): Trump’s Foray into NFTs
Perhaps the most prominent figure to wade, albeit indirectly, into this crypto-political arena is a former President known for his unconventional use of social media and keen eye for branding. In late 2022, via his Truth Social platform, he unveiled “Collect Trump Cards,” a collection of 45,000 digital trading card-style NFTs. Priced at $99 each, these digital collectibles featured the former President in various guises, from a “Statue of Liberty” rendition to a more direct “This Is What Happens if You Don’t Vote for Me” depiction.
🇺🇸 $TRUMP $BIDEN prediction market converging towards 50:50 on @FTX_Official
60:40 seen on @AugurProject and @gnosisPM markets>> https://t.co/ve5CVkABsi pic.twitter.com/4jTm5CEuns
— CoinGecko (@coingecko) November 4, 2020
Beyond the digital artwork, the project incorporated a sweepstakes element, offering buyers the chance to win a virtual call, a cocktail, or even a gala dinner with the former President, with bulk purchases increasing the odds or guaranteeing certain experiences. The initial offering proved remarkably popular, selling out in under 24 hours and generating a reported $4.4 million.
Unsurprisingly, given the success of the first series, a second wave of 47,000 NFTs followed in April 2023, again priced at $99 with similar perks. However, this influx of supply had an immediate impact on the value of the original collection, causing prices to plummet by as much as 50% within hours. This demonstrated the inherent volatility and speculative nature of the NFT market, even when tied to a prominent public figure.
Undeterred, a third, even larger collection dropped in December 2023, this time featuring 100,000 NFTs at the familiar $99 price point. This series included a special edition NFT that came with a physical fragment of a suit worn by the former President for his now-iconic mugshot, adding a tangible, albeit unusual, element to the digital asset. Yet, as with the previous releases, the increased supply led to a further depreciation in the value of the earlier collections. Despite the initial hype and the celebrity connection, the floor price of these digital cards eventually settled at a fraction of their initial cost, highlighting the often fleeting nature of NFT trends.
The Meme Coin Mania: Riding the Waves of Sentiment
While the former President’s NFTs represented a semi-official venture, the crypto landscape is also rife with meme coins that tap into the political zeitgeist in a far more informal and often chaotic manner. The “MAGA memecoin,” trading under the ticker TRUMP, emerged in August 2023 as a prime example of this phenomenon. While not officially endorsed, the project did garner attention when a crypto wallet labeled with the former President’s name received a substantial airdrop of the token, valued at over $7,000.
For much of 2023, the TRUMP token experienced minimal price movement. However, as the former President gained momentum in the Republican primaries in early 2024, the coin’s value surged dramatically, rising from a mere 19 cents in November to over $2 per token. This parabolic rise underscored the strong correlation between the token’s performance and the real-world political fortunes of its namesake, driven by a combination of speculative trading and genuine enthusiasm from supporters.
Adding a layer of purported altruism to its memetic appeal, the MAGA memecoin website claims to donate a small percentage of each transaction to charities supporting U.S. veterans and child rescue organizations. Furthermore, the project hosts weekly Twitter Spaces discussions centered around the former President and, naturally, the promotion of their coin, fostering a sense of community among its holders.
The Betting Bazaar: FTX’s Political Futures
The now-infamous cryptocurrency exchange FTX, even before its dramatic collapse, ventured into the realm of political speculation during the 2020 U.S. elections. The exchange created futures contracts that allowed users to bet on the outcome of the presidential race, specifically whether a particular candidate would win or lose. These contracts were not limited to the eventual winner and runner-up but also included other prominent figures like Bernie Sanders, Michael Bloomberg, and Elizabeth Warren. FTX claimed that the price of each token reflected the market’s perceived probability of that candidate winning the election. For instance, a token trading at $0.43 would suggest a 43% chance of victory.
THE LAUNCH IS TODAY AT 9PM UTC!🚀
Don't let anything stop you from filling your bags💰on this glorious day.
Spread the Gospel of Biden to your friends, family and other meme coin lovers on twitter!✅
Launch Countdown available at: https://t.co/PomOzqTwQR🪐#memecoins #SHIB pic.twitter.com/wkUyoGScwy
— Biden Token – Official 🦵🦵 (@Biden_Token) October 20, 2021
As major news outlets declared Joe Biden the winner on November 7th, 2020, the value of the “Trump to win” contract plummeted to near zero. However, due to the former President’s persistent and controversial efforts to challenge the election results, FTX unusually allowed holders of the TRUMP win and lose tokens to maintain their positions until February 1st, 2021 – a full twelve days after the incumbent Vice President was inaugurated as the new President. Ultimately, the election results stood, and those still holding “Trump to win” contracts saw their investments become worthless, a stark reminder of the binary nature of such political bets.
THE DREAM @JasonWu NFT is Live!! 💎
Created for Michelle Obama, the gown is now at the First Ladies exhibit at The National Museum of American History
This NFT comes with:
✔️2 Tickets to the Jason Wu Collection Fashion Show during NYFW + Backstage access pic.twitter.com/R867cABHOa— DRESSX (@dressxcom) July 18, 2022
The Underdog Narrative: Reviving the BIDEN Token
In contrast to the Trump-themed projects that often benefited from significant initial attention, the BIDEN token has experienced a more tumultuous journey. Launched in October 2021, the token initially garnered some traction, even appearing on CoinGecko’s list of top gainers and launching its own (now defunct) block explorer dubbed BidenScan. However, by the end of 2021, the project seemingly lost momentum, mirroring the “Sleepy Joe” moniker often used by his political rival, and was eventually abandoned by its original developers.
Yet, in a testament to the decentralized and often unpredictable nature of crypto communities, the BIDEN token experienced a revival in January 2024. A dedicated group of community members took over the project, breathing new life into it with a revamped social media presence and a new website. This grassroots effort sparked a significant price surge, with the token reportedly increasing by nearly 1500% in just a few days, albeit from a low base and with a relatively small market capitalization. This resurgence highlights the power of community-driven initiatives in the crypto space, capable of resurrecting seemingly defunct projects based on shared enthusiasm and speculative interest.
We Just Stealth Launched
President Ron DeSantis$RON
CA: 0x3267c5b73cc15E253b1A90c01366B17d560Bc6fbhttps://t.co/dNQYpXEqmK
— $RON – The MEME ERC20 token for Pres. Ron DeSantis (@ERC20DeSantis) May 24, 2023
The Outer Limits of Crypto Politics: Reptilian Conspiracies and Absurdist Mashups
Beyond the relatively mainstream political figures, the election crypto landscape also ventures into the truly bizarre and conspiratorial. ReptilianZuckerBidenBartcoin, with its aggressively eccentric name, launched in October 2023 and firmly plants its flag in the realm of outlandish internet memes and conspiracy theories. Supporters of this token seemingly subscribe to the widely debunked belief that prominent world leaders, including Meta CEO Mark Zuckerberg and President Joe Biden, are actually reptilian humanoids in disguise. This conspiracy, popularized by figures like David Icke, has found a bizarre digital manifestation in this meme coin, with Icke himself reportedly engaging with the project’s online community.
The project’s website is a chaotic explosion of multi-colored text, weaving together various conspiracy theories, from demonic energy in Monster Energy drinks to artificial intelligence pushing a “woke agenda,” all interspersed with popular conspiracy-themed memes. The project’s roadmap is equally surreal, including goals such as creating a “smoke crack 2 earn leaderboard,” embarking on “intergalactic discoveries,” and hosting an event in Davos once the token reaches a $1 billion market capitalization. As of early 2024, the token’s price hovered around a fraction of a cent, reflecting its speculative and highly unconventional nature.
Adding another layer of absurdity to the mix is HarryPotterObamaSonic10Inu, a project launched in 2023 that inexplicably combines elements from the Harry Potter universe, the likeness of a former President, and the Sega video game character Sonic the Hedgehog, all tied together with nonsensical memes. Despite its bizarre and seemingly random assortment of pop culture references, and even more surprisingly, with the misleading ticker symbol BITCOIN, this meme coin managed to achieve a market capitalization exceeding $56 million. The project even sells merchandise on the side, further blurring the lines between internet joke and speculative asset. Trading at a few cents per token, HarryPotterObamaSonic10Inu stands as a testament to the often-irrational exuberance and meme-driven nature of the crypto market.
The Fading Hope: The Demise of the DeSantis Token
Not all politically themed crypto projects manage to capture sustained attention or maintain their value. The RON Token, launched in May 2023, was clearly the work of supporters of then-presidential candidate and Florida Governor Ron DeSantis. The project’s website even featured a pre-written press release prematurely celebrating a DeSantis victory in the 2024 election, complete with an imagined endorsement from a prominent tech figure.
However, with the Governor’s withdrawal from the presidential race in January 2024, the RON Token’s relevance evaporated almost instantly. The project’s social media activity ceased abruptly, and the token’s price plummeted, reportedly losing over 80% of its value in the 24 hours following DeSantis’s exit from the race. As of early 2024, the RON Token’s value had dwindled to zero, a stark illustration of the direct and often unforgiving link between these political crypto projects and the real-world political fortunes of their subjects.
Beyond the Binary: Other Political Expressions on the Blockchain
The politically themed crypto space extends beyond individual candidates. In July 2022, fashion designer Jason Wu released an NFT of the ball gown worn by a former First Lady to the 2009 presidential inauguration. This unique digital collectible offered the owner the ability to “digitally wear” the gown in photos, as well as access to the designer’s fashion show, highlighting how even seemingly unrelated cultural artifacts can be tokenized and traded within the NFT ecosystem. The NFT reportedly sold for a significant sum, demonstrating the potential for value in even niche politically adjacent digital assets.
A Reflection of the Times
The emergence and proliferation of these U.S. presidential election-themed crypto projects offer a fascinating, albeit often bewildering, snapshot of our current cultural and political landscape. They represent a confluence of technological innovation, fervent political engagement, the viral nature of internet memes, and the ever-present allure of speculative investment. From officially backed NFTs to the most outlandish and conspiratorial meme coins imaginable, this digital frontier reflects the diverse and often contradictory sentiments surrounding American politics. While the long-term viability and real-world impact of many of these projects remain highly uncertain, they undeniably represent a unique and often bizarre chapter in the ongoing evolution of both cryptocurrency and political expression in the digital age.
