Donald Trump’s NFT cards lose 80% of value from peak floor price
Former U.S. President Donald Trump’s non-fungible token (NFT) collection, known as Trump Digital Trading Cards, are currently owned by a total of 15,075 owners, which equates to a 34% unique owner rate.
The value of the recently launched NFT line dropped by 78% as the floor price fell from 0.84 Ethereum (ETH) on December 18 to 0.186 ETH, according to OpenSea data as of December 30.
Many of the cards were resold after the first run, driving up their value to a high of 0.82 ether, or $999. In the last week, the volume is 380 ETH down (-95%), sales are 1,564 (-93%), and the floor price is down -11%, however, in total each card has still gained significant value since they were first sold.
Original $99 cost for each NFT
On December 15, Trump debuted his collection with a total of 45,000 NFTs that could be minted over the whole of the Sweepstakes Entry Period. During the entry period, each NFT costs $99 each. Following Trump’s promotion of the “one-of-a-kind” assets, all of the playing cards were purchased within a few short hours.
Each card portrays Donald Trump as a different heroic figure, such as a sheriff, an explorer, a superhero, or a NASCAR racer. NFT International LLC is the company that owns the NFT line, and the company has made it quite clear that former President Donald Trump is not “owning, managing, or controlling” it in any way.
At launch, the firm was able to bring in $4.45 million thanks to the sale of NFTs at a price of $99. Given that the project’s current volume as of the time of writing is 7,765 ETH, NFT International LLC is also taking a 10% cut on each transaction, which corresponds to over $1 million in revenue.
A few days after its release, the floor price began to drop in tandem with widespread criticism of the NFT line for issues including internal minting, licensing errors, and claimed design copying. It is worth reminding that Trump wasn’t always this open to the cryptocurrency sector, the former president referred to Bitcoin (BTC) as a ‘scam,’ stating that he didn’t like it “because it’s another currency competing against the dollar.”
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
