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Solana and MoonPay distance themselves from Melania Trump NFT venture

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·3-min read
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Artwork titled 'Melania's Vision' will be available to purchase on Melania Trump's new NFT platform. Photo: PA
'Melania's Vision' will be the first art work available to purchase on Melania Trump's new NFT platform. Photo: PA

After former US first lady Melania Trump said her new non-fungible token (NFT) platform would be using the Solana (SOL1-USD) blockchain and crypto payment startup MoonPay, both companies were quick to deny any involvement.

Trump tweeted a press release that stated the platform will release NFTs at regular intervals on MelaniaTrump.com.

The statement also said the platform utilises the Solana blockchain protocol and will accept both the solana cryptocurrency and credit card payments through MoonPay, with Parler powering the platform.

MoonPay posted a tweet that stated it had no official involvement in the initiative.

A representative also said “it is not possible to make credit card payments through MoonPay to purchase Melania Trump’s NFT collection,” The Block reported.

Meanwhile a Solana representative said that "to avoid any confusion… her [Melania Trump] choice to use the Solana blockchain was completely organic and this project is not part of any Solana-led initiative."

Mati Greenspan, founder of Quantum Economics, told Yahoo Finance UK: "Herein lies the beauty of open-ledger technology like bitcoin, ethereum or Solona."

"I can understand the hesitancy of these platforms to associate with certain politics, but the fact is Melania doesn't really need their permission to build on their platform."

Solana's performance over the past month. Chart: Yahoo Finance UK
Solana's performance over the past month. Chart: Yahoo Finance UK

The statement issued said the first NFT of the platform, entitled "Melania's Vision" will be available to purchase for a limited period between 16 December and 31 December.

It was described as “a breathtaking watercolor” artwork that “embodies Mrs. Trump's cobalt blue eyes, providing the collector with an amulet to inspire.”

The limited-edition piece of digital artwork will be 1 SOL (about $170 or £128 at the time of writing) and includes an audio recording from Trump.

Read more: What are NFTs and why are they creating such a stir?

A portion of the proceeds from the collection will financially assist children ageing out of the foster care system and give them access to resources needed to excel in the fields of computer science and technology.

An NFT is a unique, one-of-a-kind crypto asset that can be anything from drawings and paintings to music, but can also be applied to physical items.

It enables collectors to authenticate, own and trade original authenticated versions of special digital goods using blockchain technology. 

Watch: What is bitcoin?

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