Launched in early Dec 2022, Donald Trump’s NFT sales couldn’t stand the wrath of the crypto bear market.
Former POTUS Donald Trump’s digital trading cards received an extraordinary response from the NFT community during the launch. The complete NFT collection sold out within 12 hours making him $4.45 million.
Two weeks into the market, the craze for Trump’s NFTs seems to have fizzled out in the secondary market. As per the data analysed by CryptoSlam, Trump NFT sales went down to $59,300 in a single day after hitting an all-time high of $3.5 million on Dec17.
That’s a 98% drop in sales volume recorded in a single day. The NFTs were launched on Dec15, offering 44,000 digital cards to the public minted on the Polygon blockchain. The remaining 1000 NFTs were kept initially by the creator.
Each NFT were priced at $99 offering special perks to the buyers. Anyone who purchased 45 NFTs in the first mint will get a guaranteed chance to dine with Donald Trump.
115 users purchased 45 NFTs and 17 purchased 100 NFTs which is also the maximum number of NFTs a user can mint in a single order. The NFT cards were laughed at by several members of the NFT community including Trump supporters, calling it a cash grab.
It is also believed that some of the artworks were stolen from online apparel imagery & Trump’s NFT team was blamed for holding rare NFTs for their own benefit. Moreover, Trump is charging 10% creator fee on every NFT sale.
Amid the controversies, Trump NFTs are successfully trading in the secondary market and are largely available on OpenSea. At the time of writing, the NFT collection is ranked as the 69th best-selling project over the past 24 hours recording $44,000 sales.
The project has generated 7751 ETH in total trading volume in the secondary market with 0.159 ETH being the floor price at the moment. The top project in the Ethereum ecosystem is still Bored Ape Yacht Club, recording $2 million in sales in the same period.
The Latest Crypto Headlines:
- BitBoy Crypto YouTuber warned this about Solana ecosystem
- Who is il Capo of Crypto? Why is he the most searched man in the crypto community?
- Huobi Exchange expressed interest in Pi Network mainnet launch
Paras is a blockchain writer & video creator at Katoch Tubes. In his free time, he loves watching space exploration documentaries & Hollywood movies.