According to reports, the digital trading cards of the previous United States On Sunday, trading volume for President Donald Trump already topped 10,000 Ethereum. There have reportedly been $13.4 million in sales of the aforementioned trading cards.
Trump’s Trading Cards
Trump NFTs generated a lot of buzz when it was first published, and its price immediately fell a short time afterwards. As of the time of publication, its trading price has decreased by 68% from when it peaked at 1.2 ETH in the middle of December last year to $0.54 ETH, according to reports.
Over 34,942 NFTs have been sold to date, with 14,377 owners, according to data from OpenSea. According to the same statistics, Trump NFTs have an average holding time of five days. In secondary markets like OpenSea, trading cards of the former president are known to fetch a high price. A single NFT depicting Trump dressed in a black tie and tails was reportedly sold for an astounding $43,713.90 last year.
The Utah-based NFT INT LLC, which is thought to be responsible for the Trump NFTs, allegedly used their royalty payment to grab a 10% cut of every sale made on marketplaces. According to reports, the aforementioned rate is significantly higher than the 2.5% to 5% industry normal rate for significant NFT projects, such as Trump’s.
These allegations attest to the Utah-based company accumulating nearly $1.34 million in earnings. The official website for the Trump Digital Trading Cards, on the other hand, made clear that the aforementioned NFTs are in no way associated with his political campaign. The sales from the aforementioned digital collection won’t go toward Trump’s presidential campaign either.
Polygon and Trump NFTs
In the final month of 2022, Polygon was seen to have seen an enormous growth rate of 124%, which is said to have boosted the NFT trading volume to $46 million. According to various published accounts, the debut of the Donald Trump NFTs on the aforementioned platform served as the catalyst for the expansion of the Polygon blockchain.
Due to strong demand from fans, collectors, and investors, the aforementioned NFT collection was sold for more than the mint price in December. The NFT collection, however, fell into low trading at the start of the year as its price continued to fall. The aforementioned drop was brought on by internal minting and licensing errors. Even some detractors called the NFTs a “scam.”
