Trump drops more NFTs – and now the first batch is dropping in price

Trump drops more NFTs – and now the first batch is dropping in price

Hoping to repeat his past success with NFTsformer President Donald Trump has launched a second collection of digital trading cards, with tens of thousands of new collectibles now available for coin. But prices for the controversial politician’s original NFT set have plummeted now that the total supply has more than doubled.

The second series of Trump Digital Trading Cards spanning a total of 47,000 NFTs minted on Polygonone Ethereum sidechain network, with 1000 of the NFTs held back by the developer. Each retails for $99, as with original fall from December 2022with some cards featuring Trump’s digital signature.

Trump commented on the surprise launch via his Truth Social network, leans into familiar themes of “fake news” and what he sees as his generosity to fans.

“I hope everyone is paying attention [and] I’m sure the fake news won’t do that, I’ll leave the price of the trading cards the same as last time, even if they sell MANY TIMES MORE (it’s called the MARKET!), he wrote, “[and] sold out almost immediately, because I want my fans [and] supporters to make money, [and] have fun doing it.

“I could have raised the price MUCH HIGHER, [and] I think it still would have sold well, with a lot more money coming my way, but I chose not to. I WANT NO CREDIT FOR NICE GUY?”

This time, Trump’s team does not offer as many additional benefits, but anyone who buys 47 of the NFT trading cards will apparently receive a ticket to a gala dinner with Trump at Mar-a-Lago Golf Club in Florida. For the Series 1 launch, buyers also received potential perks like Zoom calls with Trump or a personal meet-and-greet.

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The Series 2 set builds on the theme of the original set, which featured Trump depicted as a superhero, astronaut, cowboy and in other larger-than-life settings. This time, the NFT artwork includes Trump wearing a pro wrestling championship belt, hunting and wearing firefighting gear.

According to data from OpenSea marketplaceapproximately 5,600 of the 46,000 available NFTs have been minted so far, with the secondary price starting at 0.06 ETH (roughly $125).

However, the launch appears to have cratered the secondary market price of the original Series 1 Trump NFTs, which started at almost 0.4 ETH ($835) as of late Monday. Prices now start at OpenSea at only 0.17 ETH ($355) for Series 1 NFTs– a more than 50% drop in a few hours.

Trump’s original NFT launch was much derided as a money move and for problems with the artworkbut the creator — an official Trump licensee —sold through all 44,000 NFTs offered for public sale within 24 hours. Prices and demand rose quickly, although the buzz faded after a few days in the midst of a prominent feature on NBC’s “Saturday Night Live.”

However, momentum started around the NFTs climbing again earlier this year as Trump’s ban on social media from Twitter and Facebook was lifted, and at the forefront his recent indictment on 34 charges. As of the end of March, Trump had the NFT prices increased to over $1,000 apiece, nearly matching February’s all-time high of $1,079.

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