• Donald Trump recently released 45,000 non-fungible tokens (NFTs) which were sold for $99 per unit.
• Trump’s NFTs experienced a surge in value, reaching a peak of 0.79 ether on Dec. 17, 2022.
• However, the value of Trump’s NFTs has since dropped to 0.15 ether, which is 81% lower than the peak value.
Donald Trump, the 45th president of the United States, recently released 45,000 non-fungible tokens (NFTs) for sale on secondary NFT markets. Each NFT was sold for $99 per unit and quickly started trading on Dec. 15, 2022. Initially, Trump’s NFTs had a floor value of around 0.1 ether or around $125 for the most inexpensive NFTs.
The NFTs soon experienced a surge in value, reaching a peak of 0.79 ether on Dec. 17, 2022. This high value was due to Trump’s NFTs being mocked by a large number of left-leaning political commentators. Trump was pleased with the artwork in his collection and expressed his satisfaction.
Unfortunately, since then, the value of Trump’s NFTs have dropped significantly. On Dec. 29, 2022, the floor price of Trump’s NFTs had fallen all the way down to 0.15 ether ($180), which is 8.54% lower than the floor values recorded 24 hours ago. According to stats from the leading NFT marketplace Opensea, 9% or 3,864 Trump NFTs are listed on their platform and in total, there are roughly 15,083 unique Trump NFT card owners.
It is unclear what caused the sudden drop in value for Trump’s NFTs. However, one possible explanation could be that the novelty of the NFTs has worn off and investors have moved on to other crypto assets. Another possible explanation could be that there was a large number of NFTs released and investors simply did not want to buy them all.
Whatever the cause, Trump’s NFTs have experienced a dramatic drop in value since their initial launch. It remains to be seen if the NFTs will regain their value or if they will continue to decline in value.
Only time will tell what the future holds for Trump’s NFTs, but one thing is certain: the digital trading cards have certainly made an impact in the crypto world.