The trading volume of Donald Trump’s various avatars, like superheroes, astronauts, and cowboys, is currently experiencing huge profits. Trump’s Non-Fungible Tokens (NFT) collection sales are now up to 800%. Last week their volumes rose from $34,000 to $306,000.
According to data from Cryptoslam, within 20 hours, the NFTs experienced $241,000 worth of sales. On Saturday, 115 Trump NFTs were traded at $296 worth of Ethereum.
Trump’s NFTs have been facing slumping prices and low trading for the past few weeks. Due to licensing mistakes and internal minting, the price of NFTs has declined. Some of the critics on social media platforms called NFTs a scam due to their sudden drop in trading volumes.
NFT INT LLC is the company that purchased the rights to use Trump images to create NFTs. The company clarified that the money raised after the sale of NFTs will not be used to fund Trump’s 2024 presidential elections.
Why Trump NFT collections created hype within a day of the announcement
On December 15, Trump launched a new collection of NFTs on the Polygon blockchain. Buyers with a Gmail account and credit card can create a crypto wallet for purchasing. If users want to buy with crypto, purchases can be made using ETH.
Within a day, Trump’s digital trading card business created a lot of hype. Each NFT is sold at $99. The whole collection is worth $4.45 million since it consists of 45K digital collectibles. Surprisingly, all the NFTs were sold out like hot dogs within 24 hours. The creators also received 10% on each sale of the collections.
As per the announcement, the buyers who bought the 45 digital trading cards can get a ticket to have dinner with Trump. They can also get the Golden edition signed E-trading cards that Trump signed (digitally).
In December, the collection was above the mint price due to continuous demand from fans, collectors, and investors. With a price of $99, the user purchased more than 10 Trump Digital Trading Cards.
Donald Trump thinks NFTs are cute
In an interview with One America News, Trump said he launched his NFT collections because they are cute. Criticisms and negative comments don’t seem to affect Trump’s digital trading card business. “I am looking at this stuff and I am saying, that’s sort of cute, that might sell. It set a record. It’s been incredible,” he said in an interview.
Trump added, “You know, it’s sort of comic book art when you think of it, but they showed me the art and I said, I always wanted to have a 30-inch waist.”
Nancy J. Allen is a crypto enthusiast and believes that cryptocurrencies inspire people to be their own banks and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning.
Source: https://www.thecoinrepublic.com/2023/01/26/trump-nfts-trading-volume-raised-more-than-800/