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White House Crypto Czar David Sacks called NFTs and meme coins “collectibles” on Thursday, reframing them as cultural assets.

Are NFTs and meme coins assets, currencies, or something else entirely? According to White House AI and Crypto Czar David Sacks, they belong in their own category: “Collectibles.”

“Well, when you’re talking about digital assets, it can be multiple things,” Sacks said during a Fox Business interview on Thursday.

“I mean, you’ve got digital assets that are securities, you’ve got digital assets that are commodities, you’ve got digital assets that are collectibles like NFTs or meme coins.

The distinction as a collectible could alter how NFTs and meme coins are perceived, potentially granting them legitimacy as assets with cultural and commemorative value rather than speculative risks.

Pres.D.Trump appointed venture capitalist David Sacks to oversee artificial intelligence and crypto policy initiatives for his second term, marking a significant shift in the U.S.'s approach to emerging technologies. Trump announced the appointment through his Truth Social platform on Thursday, positioning Sacks, co-founder of Craft Ventures LLC, to lead the newly created technology czar position. “I am pleased to announce that David O. Sacks will be the ‘White House A.I. & C...

He also weighed in on the Solana-based Official Trump (TRUMP) meme coin, a token officially tied to President Trump. “I think the Trump coin is a collectible,” he said, stating it falls under the same category as NFTs or meme coins. 

“It’s like a baseball card or a stamp,” the crypto czar said. “People buy it because they want to commemorate something.”

While acknowledging the token’s purpose as a collectible item, Sacks clarified that this was his personal opinion. also, czar outlined his vision for the Presidential Working Group on Digital Asset Markets, which he chairs as part of President Donald Trump’s sweeping executive order to establish the U.S. as a global crypto leader.