Auction for Melania’s Hat Fails to Get Desired Bids and Social Media is Loving It

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Earlier this month, the Trump family put up for auction three items that revolved around Melania, hoping to get an opening bid of $250,000, but in the end, even the final bid fell far short of that estimate. The auction items included a hat worn by Melania, a watercolor painting of the former FLOTUS, and one of her infamous NFT’s. Still, by the time the auction came to an end, very few bids were much higher than the minimum amount required.

One big reason for the failure to reach their asking price was that they were only taking bids in Solana, a type of cryptocurrency. Like all other cryptocurrencies, including bitcoin, the value of Solana has recently dropped dramatically. As the items are called online, the “Head of State” Collection sold for around $170,000, about $80,000 less than the predicted opening bid price.

Cryptocurrency is a wholly unregulated market, and for that reason, it is not uncommon to see significant highs and lows occur. The Trump family certainly seemed to choose the worst time to start trying to capitalize on that market. The Trump family members only got into the cryptocurrency market at the very end of 2021, beginning with an NFT of Melania’s eyes that they were selling for $150 each.

When they began selling the NFT’s, they claimed that a portion of the profits would go to charity. The Trump family continues to say the same for their latest auction; they have not specified to anyone how much or exactly what organizations will be receiving the funds. They have also not answered any requests for comments on the auction’s outcome.

Twitter had a field day:





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