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 skyrocketed 24% as of April 2, to a high of 0.6 ETH ($1,023), and the allegation clearly renews interest in controversial NFTs.
Launched in December, Trump’s NFTs initially generated skepticism in the cryptocurrency community. However, the project gained steam as it briefly topped the sales charts, with many people buying NFTs out of admiration for Trump or ironically. Initially minted at $99 each, the 45,000 NFTs featured Trump in various costumes and included perks like video chats with the former president.
Despite the initial hype, Trump’s NFTs faced criticism for technical glitches and potential license violations, sending prices tumbling. A derisive mention on Saturday Night Live also contributed to declining interest in the collection. As 2022 came to a close, daily trading volume dropped significantly and some holders sold their included profits. However, 2023 has proven that NFTs are as resilient as the man himself, with daily sales rising as merchants seemingly bet on Trump’s return to mainstream visibility. The recent indictment has further increased the popularity of NFTs, proving a worthwhile bet for some buyers.
The sales performance of the Trump 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 were down to around $2 million in March.
After the Sunday Surge, Trump NFT has gone cold turkey
Despite this fluctuation, the total trading volume of Trump’s NFTs exceeded $18.6 million, with a floor price of 0.479 ETH at the time of writing. However, recent data shows a downward trend in Trump NFT sales performance. After a surge on April 2, the trading volume dropped to 9.64 ETH, representing a 41% reduction. In addition, there was a 40% reduction in sales volume in the last 24 hours. These numbers suggest that the Trump NFT lawsuit 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 NFT market will continue to evolve. Whether bought for their perceived value or as a tongue-in-cheek statement, Trump’s NFTs have certainly made quite an impression in 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 come from the personal research and experience of our site moderators and are intended for educational purposes only. People are required to fully research any product before making any type of investment.
NFT and Web3 Ambassador. Bullish on everything related to Blockchain.
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