You are surely mistaken if you thought you had heard the last of him. The 45th President of the United States is back in crypto promoting his latest slew of patriotic NFTs featuring yours truly, Trump himself.
The newly released second set of Donald Trump-inspired non-fungible tokens (NFTs) sold out just a day after being introduced to the public. Moreover, the 47,000 tokens sold for $99 each, featuring limited one-on-one NFTs and autographed cards.
Trump’s NFTs Have Been a Big Hit
Although he remains a rather divisive figure in the current political climate, his Web3 endeavors have once again proven fruitful. Subsequently, former U.S. President Donald Trump’s second NFT collection has officially sold out. However, it has done so as prices on the secondary market have taken a hit.
The second collection also featured similar features to the first installment. Specifically, traders who acquired 47 tokens would be made eligible to have dinner with Trump at his Florida Mar-a-Lago estate.
Conversely, buyers of the now infamous NFTs who purchased 100 would receive a private dinner with the former president and a unique collectible.
The second installment of Trump NFTs featured similar artwork and a similar reaction from consumers.
Alternatively, the first set sold out within the first 24 hours of release, with the second set taking a little longer. Moreover, within the first 24 hours of the first set release of the NFT marketplace, OpenSea noted prices reaching 0.19 ether (ETH), or nearly $230, according to Coindesk.
Yet, the second installment is observing a floor price of about 0.053 ETH, or about $108. Consequently, where the first set was priced at more than double its original price on the secondary market, the second installment is just a few dollars above the mint price.
As Always, Trump Has a Plethora of Critics
Even if the former president’s NFT venture was profitable, critics have also come hard. In a conversation with the Wall Street Journal, GOP strategist Mike DuHaime described the former president’s new endeavor as embarrassing.
Meanwhile, just like his first collection, each of the Trump Digital Trading Cards NFTs was priced at $99. In the Instagram post, Trump said,
“I could have raised the price MUCH HIGHER, & I believe it still would have sold well, with a lot more money coming to me, but I didn’t choose to do so. I WILL BE GIVEN NO ‘NICE GUY’ CREDIT?”
The introduction of Trump’s Series 2 NFTs has reduced the value of the first collection. According to NFT Price Floor, the price floor for Trump Digital Trading Cards has decreased by 60.37% in the past 24 hours.
The price floor of Trump Digital Trading Cards currently stands at 0.17 ETH. In the past day, the trading volume touched 176.62 ETH with 1,180 sales.
Before his criminal prosecution and arrest last month, Trump’s NFT trading cards had increased dramatically before the trend reversal.
The Polygon blockchain will be used to mint all tokens. In just six hours, all of the NFTs were gone, earning US$4.6 million.
How Many NFTs are in This Collection?
There were 47,000 NFTs in the collection, which could be a subtle clue that Trump will return as the 47th President of the United States.
It is fascinating to note that the send-off of the new assortment prompted a rut in the floor cost of the Series 1 computerized exchanging cards, which is 44%, to be exact.
The past NFT set had figured out how to keep up with as well as even develop its floor value regardless of Trump’s new arraignment in New York.
From the sales of his first NFT collection, Donald Trump made up to $1 million, as previously reported. Will this Trump NFT trend continue, or is this the beginning of the end for Trump Meta?