Trump’s New NFT Collection: Rising Demand, Plummeting Prices, and Controversy

Former US president Donald Trump recently released another batch of digital trading cards. This came after an effort to build on his earlier breakthrough with NFTs. Thousands of these fresh collectibles are now on the market for sale. But because the whole availability has nearly doubled, rates for the unpopular politician’s initial NFT set have sharply fallen.

Trump's New NFT Collection: Rising Demand, Plummeting Prices, and Controversy
Trump’s New NFT Collection: Rising Demand, Plummeting Prices, and Controversy

In all, a total of 47,000 NFTs were produced for the subsequent collection of Trump Digital Trading Cards. It is available on the Ethereum sidechain network Polygon, with 1,000 NFTs retained by the creator. As part of the initial release in December 2022, each costs $99. Some cards include Trump’s digital signature as well.

Trump replied on the unexpected debut via his social media platform Truth Social. Trump went on to say that as a sign of his goodwill towards his supporters. He also opted to maintain the price of the Trading Cards the same as the initial release. This is in spite of the Trading Cards selling a lot more than before.

Trump’s entourage, however, isn’t providing as many extras this time around. Anybody who buys 47 of these NFT trading cards will also get invited to attend a gala dinner with Trump at his Florida golf club Mar-a-Lago. Members of the Series 1 launch also had access to additional perks including in-person meet-and-greets or Zoom chats with Trump. 

The Series 2 set continues the motif of the first set. There, Trump was portrayed as a hero and various other characters in outlandish circumstances. This time, Donald Trump is depicted in the piece by  NFT with a pro wrestling title belt. It was also acting as a hunter and donning firefighting attire.

How are Trump’s Collectibles Faring

 Approximately 5,600 of the 46,000 NFTs that are now available have been produced, according to the OpenSea exchange. Furthermore, their secondary value begins at 0.06 ETH (or roughly $125).

The price of the initial Series 1 Trump NFTs on the aftermarket, which began at over 0.4 ETH ($835) when they were introduced late Monday night, looks to have plummeted as a result of the introduction. The Series 1 NFTs are now available at OpenSea for only 0.17 ETH ($355), a decrease of over fifty percent in just a few hours.

Trump’s initial NFT launch was highly criticized for being an economic ploy and for having poor art with the designer who happens to be an official Trump licensee sold out of the 44,000 NFTs that were made available for public purchase in less than a day. Demand and costs rose quickly, but after a few nights, the hype subsided despite a notable appearance on NBC’s Saturday Night Live.

Nevertheless, after Trump’s social media prohibitions from Twitter and Facebook were lifted earlier this year, and before his current allegations of 34 felony charges had sufficed, momentum surrounding the NFTs began to increase once more. Trump NFT prices soared to over $1,000 a unit by the close of March, almost matching the record high of $1,079 set in February.

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