Following news that a grand jury in Manhattan decided to indict Donald Trump, the 45th President of the United States, the cost of NFT collection digital trading cards connected to him has increased.
According to reports, the former president will travel from Florida to New York on Tuesday to face charges stemming from the Manhattan District Attorney’s inquiry into Trump’s alleged involvement in hush money payments to adult film star Stormy Daniels in 2016.
The NFT collection features digital “cards” depicting Trump in various iconic poses and situations, such as Trump as a muscle-bound wrestling champion, Trump holding a basketball, and even Trump in space. The collection had an initial price of $99 and dropped to as low as 0.02 ETH (around $35) in late December last year. However, the floor price of Trump’s NFTs has now surged to 0.499 ETH or over $900 at current rates.
Early this month, there was also a price increase for Trump’s digital trading cards due to rumors that he might be charged in New York. On March 18, the former president projected his own arrest and called for protests, which led to a substantial increase in the selling value of his NFTS.
When Trump was not detained on March 21 as he had anticipated, the price dropped back, fluctuated over the ensuing days, and finally dropped to $0.41 ETH on March 29.
Investors are flocking to buy NFTs after indictment news of Trump
The price of NFTs on the secondary market started to rise again after a grand jury in Manhattan decided to indict Trump on March 30. It reached 0.49 ETH, or about $893, before dropping to 0.459 ETH, or $873, on March 31.
Overall, the surge in price and trading volume of Trump’s NFTs may be seen as a reflection of his ongoing popularity and notoriety. Despite facing criminal charges, Trump remains a polarizing figure in American politics, and his NFTs may continue to generate interest among his supporters and detractors alike.
