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Trump’s second NFT collection generates millions within hours

In this post:

  •  Series 2 of the Trump digital trading cards, released just four months after his first NFT collection, sold out within six hours, bringing in $4.6 million in total.
  •  The collection included 47,000 NFTs, with buyers who purchased 47 NFTs being given a chance to win a dinner with the former president at his Mar-a-Lago residence in Florida.
  • The launch of the new collection led to a 44% slump in the floor price of  Series 1 digital trading cards, highlighting the impact of increased supply and diversion of demand.

Former U.S. President Donald Trump’s second NFT collection, titled Series 2 of the Trump Digital Trading Cards, has sold out in record time, generating millions of dollars for the controversial figure. 

The collection was released on April 18, just four months after Trump launched his first digital collectibles set in December 2022. To promote the new collection, Donald made a return to Instagram after being banned for over two years, but the news was initially shared on his own social media platform, Truth Social.

Priced at $99 each, the same as the first collection, the NFTs were minted on the Polygon blockchain. Despite the relatively high price point, the collection of 47,000 NFTs sold out within six hours, bringing in a staggering $4.6 million in total. Notably, the number of NFTs in the collection, 47,000, has been interpreted by some as a subtle hint at Trump’s potential return as the 47th President of the United States, adding to the intrigue and speculation surrounding the former President.

Buyers who purchase 47 NFTs given dinner with Trump in Florida

As an added incentive for buyers, Trump announced that users who purchased 47 NFTs would have a chance to win a dinner with him at his luxurious Mar-a-Lago residence in Florida, adding a unique and exclusive element to the collection.

However, the launch of the new collection had an unexpected impact on the floor price of the Series 1 digital trading cards from Trump’s first NFT collection. The floor price, which refers to the minimum price at which NFTs from a collection can be bought and sold, experienced a significant slump of 44% following the release of the Series 2 collection. This decline in value could be attributed to the increased supply of Trump-themed NFTs in the market, as well as the potential diversion of interest and demand towards the new collection.

It is noteworthy that Trump’s first NFT collection had managed to maintain and even increase its floor price, despite the recent indictment of Trump in New York on various charges. The success of both NFT collections in generating substantial profits for Trump is reflective of the continued popularity and influence of the former President among his supporters.

The sale of NFTs has gained significant attention in recent years, with digital art and collectibles being tokenized on blockchain platforms and sold as unique assets. While some view NFTs as a novel and lucrative form of investment, others remain skeptical about their long-term value and sustainability.

As Trump continues to explore and capitalize on new opportunities in the digital space, including his return to social media and the creation of his own platform, Truth Social, his foray into the NFT market demonstrates his ability to leverage his celebrity status and brand to generate substantial profits.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

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