Trump NFTs Tanking as Hype Dies, Floor Price Down 70%

[edbermac]

What a surprise.

Donald Trump’s first official NFT collection was the talk of the crypto world late last week, captivating Twitter and late night TV in the process. But after prices and trading volume surged over the weekend, both metrics have fallen sharply as the hype around the disgraced former U.S. president’s project is apparently fading.

Trump’s digital trading cards, which are minted on Ethereum scaling network Polygon, peaked on Saturday, December 17 with over $3.5 million worth of trading volume, per data from CryptoSlam. Sales price rose even higher on Sunday, with the NFTsselling for an average of just over $680 apiece, although total volume fell to nearly $1.95 million for the day.

On Monday, however, day-over-day trading dropped 57% to about $836,000 worth of ETH, with the average sale price falling to about $466. Today, the cheapest available Trump NFT up for sale on leading marketplace OpenSea is listed at just 0.21 ETH, or about $255.

Trump launched his digital trading card NFTs last Thursday, with 44,000 of the NFTs selling for $99 apiece in the primary sale. Buyers were incentivized by the possibility of winning a meet-and-greet or dinner with the former president, amid other potential perks. Another 1,000 NFTs were kept back by the project’s creators, for a total supply of 45,000.

Despite widespread mockery and criticism of the project—even from some of Trump’s own supporters—the project sold out within 24 hours and fueled secondary market demand. Since then, the project has racked up over $8.7 million worth of secondary trades.

Momentum peaked over the weekend, with the floor price—or cheapest listed NFT—hitting 0.84 ETH (about $990) on Saturday. Prices rose and fell in a volatile market ahead of the NFTs being skewered on NBC’s late-night comedy show, Saturday Night Live. Just three days later, the floor price has fallen 74% when measured in USD.

https://finance.yahoo.com/news/trump-nfts-tanking-hype-dies-172857993.html

[marble falls]

1. I think Florida Man held back a bunch of them to boost the price and dump them ...

... I hope he has to choke on them, and I hope he violated a whole bunch of copyrights.

[Kid Berwyn]

2. Plagiarized Poorly

Trump’s Badly Photoshopped NFTs Appear to Use Photos From Small Clothing Brands

Gizmodo found the address for the company behind the NFT auction is out of a UPS store in Utah, though company LLC registration points elsewhere.

ByKyle Barr
Gizmodo, Dec. 15, 2022

https://gizmodo.com/donald-trump-nft-trading-cards-1849900531

[ProfessorGAC]

3. Which All Means...

...naturally that suckers got fleeced. Again.
In 3 days, some Fools spent $900 on something worth $300, if they can rind a buyer as demand plummets.
ETTD.

[11 Bravo]

4. A MAGAT and their money are soon parted.

I despise every fiber of Trump's being, but I've got to say, the miserable sonofabitch is a fucking genius when it comes to separating the rubes from their cash.

[GenXer47]

5. this is what happens in money laundering

Just like vastly overpaying for a condo in Trump Tower.

[SWBTATTReg]

6. People getting fleeced. I don't feel sorry one bit. If you're a seasoned collector of trading

cards (of which tRUMP's cards don't even measure up to even be in a 'trading card' category), you would have already known to avoid the hype, avoid the card(s) altogether.

To those who bought the cards. How does it feel to be a target of grift from your esteemed 'leader'? And at least $99 bucks a pop, Ouch, that had to hurt, especially now over the holidays!

[Celerity]

7. Furthermore, the 1,000 NFTs kept by the project's creators appear to contain a disproportionate

amount of the “rare” collectibles, prompting further skepticism from NFT observers.


roflmaooooooooooooooooooooooooooooooooooooo

PURE SCAM

[Skittles]

8. I question the intelligence of anyone who would spend one fucking dime on this trash

[nolabear]

9. They didn't pull "A fool and his money" out of nowhere.