The official Donald Trump NFT collection has experienced a resurgence in sales and popularity as the former president heads to court to answer criminal charges. As a result, the floor price has soared by 24% as of April 2nd, to as high as 0.6 ETH ($1,023), with the indictment clearly renewing interest in the controversial NFTs.
Launched in December, the Trump NFTs initially drew skepticism from the crypto community. However, the project gained traction as it briefly topped sales charts, with many people purchasing the NFTs either out of admiration for Trump or ironically. Initially minted at $99 each, the 45,000 NFTs depicted Trump in various costumes, and included perks such as video chats with the former president.
Despite the initial hype, the Trump NFTs faced criticism over technical glitches and potential licensing infringements, causing prices to plummet. A mocking mention on Saturday Night Live also contributed to the waning interest in the collection. As 2022 came to a close, daily trading volume fell significantly, with some holders selling off their included perks. However, 2023 has shown the NFTs to be as resilient as the man himself, with daily sales surging as traders seemingly bet on Trump’s return to mainstream visibility. The recent indictment has further boosted the NFTs’ popularity, proving to be a valuable wager for some buyers.
The sales performance of Trump’s NFT collection has been quite erratic since its launch. In December, it generated nearly $10 million in monthly sales, but this figure dropped to $2.6 million in January. In February, there was a slight uptick with $4 million in sales, but prior to the indictment, sales slowed to around $2 million in March.
After the Sunday Surge, Trump NFT has Cooled down
Despite this fluctuation, the total trading volume for Trump NFTs surpassed $18.6 million, with a floor price of 0.479 ETH at the time of writing. However, recent data shows a downward trend in the sales performance of Trump NFTs. After a surge on April 2, the trading volume dropped to 9.64 ETH, marking a 41% reduction. Moreover, there was a 40% reduction in sales volume within the last 24 hours. These numbers suggest that the demand for Trump NFTs may be cooling off.
With the charges against Trump expected to be announced in the coming days, it remains to be seen how the Trump NFTs market will continue to evolve. Whether purchased for their perceived value or as an ironic statement, the Trump NFTs have certainly made an impression on the world of digital collectibles. As the story unfolds, the NFT community will be watching closely to see what the future holds for this entertaining collection.
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*All investment/financial opinions expressed by NFT Plazas are from the personal research and experience of our site moderators and are intended as educational material only. Individuals are required to fully research any product prior to making any kind of investment.
NFT and Web3 Ambassador. Bullish on all things Blockchain.
