Skip to content


Briefly

  • Donald Trump’s NFT collection loses value as sales ease after a brief weekend rally.
  • Trading volume fell 57% from Sunday to Monday, while the floor price of NFTs is down 74% since Saturday’s peak.

Donald Trump the first official NFT collection was talk about the crypto world late last week, catchy Twitter and late night tv during. But after prices and trading volumes rose over the weekend, both indices fell sharply as the buzz surrounding the former US president’s disgraced project appears to be fading.

Trump’s digital trading cards that have been cut out Ethereum: scalable network Polygonpeaked on Saturday, December 17, with a trading volume of over $3.5 million, according to CryptoSlam:. The sale price rose further on Sunday, moreover NFTssold for an average of just over $680 a piece, though total volume fell to $1.95 million for the day.

On Monday, however, intraday trading fell 57% to around $836,000 in ETH, with the average sale price falling to $466. Today, the cheapest Trump NFT available for sale on the leading marketplace OpenSea is listed for just 0.21 ETH or about $255.

Trump launched his digital trading card NFTs last thursday, and 44,000 of the NFTs are selling for $99 each in the primary sale. Shoppers were incentivized with the chance to win a meet-and-greet or dinner with the former president, among other potential perks. Another 1,000 NFTs were held back by the project’s creators for a total supply of 45,000.

Despite widespread ridicule and criticism of the project, even from Some Trump supportersthe project sold out within 24 hours and fueled secondary market demand. Since then, the project has raised more than $8.7 million in secondary trades.

Momentum peaked during the week and the floor price, or the cheapest NFT, reached 0.84 ETH (around $990) on Saturday. Yesterday, prices rose and fell in a volatile market NFTs are skewered on NBC’s late-night comedy show, Saturday Night Live. After just three days, the floor price has fallen by 74% in USD terms.

Trump’s digital trading card project only ranks 10th on CryptoSlam’s list of top-selling projects in the last 24 hours. During that period, it has about $472,000 in sales, while Bored Ape Yacht Club It topped the list with $3.8 million worth of NFT sales.

Besides being a combination of already separated subjects (Trump and NFTs), the project has: has also been criticized apparently using stolen artwork for some of his cards. Furthermore, the 1,000 NFTs held by the project’s creators appear to be: contains a disproportionate amount about “rare” collectors, which caused further skepticism among NFT watchers.

Stay informed about crypto news, get daily updates in your inbox.



Comments

Leave a Reply

Your email address will not be published. Required fields are marked *