The first version of the Trump digital trading card NFT has seen sales drop significantly, with transaction volume plummeting 99% over the past 30 days. Data from OpenSea shows a sharp decline in transactions over the past week, with no activity recorded. This is in sharp contrast to the initial buzz surrounding the collection, which has grossed over $50 million in volume since its launch in December 2022.
Trump’s relationship with cryptocurrency
Former US President Donald Trump’s interest in cryptocurrency and Bitcoin is growing through his entry into the NFT market along with the launch of digital trading cards. But the dwindling interest in the original collection coincides with a criminal trial in which Trump will face charges that he falsified business records related to hush money payments.
Comparison with the overall NFT market
While overall NFT trading volume has been muted compared to the frenzied activity of 2021, the broader market has seen relative stability in recent months. According to CryptoSlam, Ethereum-based NFT sales reached $489 million in March! Data that indicates continued activity despite the poor performance of certain collections, such as Trump.
Second Series Achievements and Promotions
In contrast to the decline of the first version, the second series of Trump’s digital trading cards performed relatively better despite a 57% drop in transaction volume over the past 30 days. A recent promotion for the collection included a chance for collectors to win an invitation to dinner with Trump at Mar-a-Lago, scheduled for May 8, as announced by X.
Ownership and Management of NFT INT LLC
NFT INT LLC, responsible for managing NFT drops and promotions, operates independently from Donald J. Trump, The Trump Organization and its affiliates. The digital trading card website states that NFT INT LLC holds a paid license to use Trump’s name and likeness from CIC Digital LLC, but Trump’s previous affiliation with CIC Digital LLC has raised questions about ownership and management .
The issuance of NFTs based on Trump’s likeness will take place on the Polygon blockchain, adding a layer of digital authentication to the collection.
Featured Image: Freepik
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