• Donald Trump’s digital collectibles saw a surge in sales following the news of his indictment in New York.
• A report revealed that the market for non-fungible tokens (NFTs) has seen its strongest quarter since early last year, reaching a trading volume of $4.7 billion.
• The NFT collection was announced by Trump on social media in December and now nears 14,000 owners with prices returning to more average levels.
Donald Trump’s Digital Collectibles Surge
Following the news of Donald Trump’s indictment in New York, sales of his digital collectibles have surged. According to data from the NFT market Opensea, after the indictment, sales increased well over 400% in a day and exceeded a floor price of 0.59 ETH on Friday, March 31st. The number of owners now nears 14,000 but prices have since returned to more average levels.
Strong Quarter for NFT Market
A report revealed that the market for non-fungible tokens (NFTs) has seen its strongest quarter since early last year, reaching a trading volume of $4.7 billion despite a weaker March. According to global decentralized apps store Dappradar, NFTs had a generally strong first quarter this year with a trading volume expansion by more than 137%. This is said to be the highest increase since February 2021 when competition between Opensea and Blur began as Blur had over 57% of the market in the first three months of this year.
Trump NFT Collection Launched
The Official Trump Digital Trading Cards were launched by Trump on social media back in December and sold out within hours. The thousands of tokenized cards depict him as just about anything masculine up to a Superman character. After his indictment, these cards have registered an even bigger surge in sales than during their launch month with prices exceeding 0.59 ETH on Friday, March 31st according to data from Opensea.
Hush Money Payment Scheme Investigation
The sealed indictment against Donald Trump consists of over 30 counts related to business fraud and it follows an investigation into an alleged hush money payment scheme involving adult film star Stormy Daniels which dates back to 2016 presidential election campaign period .
Conclusion
The market for non-fungible tokens (NFTs) has seen its strongest quarter since early last year and Donald Trump’s digital collectibles have registered an even bigger surge following his indictment news compared to their launch month back in December 2020 when they sold out within hours due to high demand .