• Wed. Feb 28th, 2024

Trump NFTs Sold Out In Less Than a Day, Re-Sale Value Exceeds 0.49 Ether

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Dec 28, 2022

Massive Turnover in Buying Trump’s NFT Collection

It was in 2019, when former US President, Donald Trump, remarked that he doesn’t like Bitcoin nor its underlying technology i.e. Blockchain.

However, a few days ago, Trump utilized blockchain for launching its very own first-ever Non-Fungible Tokens (NFTs) collection.

Trump’s NFT collection comprised over 45k collectible cards containing pictures of Trump wearing costumes of multiple designs.

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Some of the costumes he wore in the pictures included Superman’s costume as well as cowboy and astronaut costumes.

There is also a rumor that Trump hired the team for NFTs to pick up images from a website called ‘Shutterstock’. Many owners of Trump-NFTs complained of watermarks of ‘Shutterstock’ appearing on the images.

Irrespective of the complaints, the turnout for acquiring Trump’s NFTs was enormous and perhaps bigger than what Trump had himself imagined.

It took less than 24 hours for Trump’s NFT collection to vanish from the scene as all were bought immediately.

According to cryptoslam.io, Trump’s NFT sale was the second biggest sale in 2022 after Bored Ape Yacht Club (BAYC).

BAYC is one of the largest developers and providers of NFT collections. It has been in the news ever since it has been launched.

The collections introduced by BAYC are very popular among celebrities. To be able to compete with BAYC is a huge achievement for the NFT collection for Donald Trump.

This goes to show that the popularity of Trump is constantly rising all over the crypto-verse.

Resale Value Quadrupled

Currently, our collections of Trump’s NFTs have been completely sold out and the buyers are re-selling the collections at higher prices.

After 24 hours of the sale, the value of Trump’s NFT collection surged by more than 50%. Since the launch of the NFT sale till now, approximately $3,597,251 have been recorded as the total sale value.

For reaching this $3.5 Million mark, the buyers executed a total of 4,749 transactions. There were more than 1,800 buyers while the sellers were more than 2,100.

Opensea is selling a single NFT card of Trump’s collection at a whooping value of 0.49 Ether i.e. equivalent to $578. Originally the price of a single card was capped at $99, however, the resale value has quadrupled.

As of this writing, there are approximately a total of 15,811 owners in possession of Trump NFTs. Amongst them, 35% are those who can be described as ‘unique owners’, according to Opensea’s statistics.

There is also an owner who single-handedly bought a total of thousand cards from Trump’s NFT collection.

There is a rumor that this unknown buyer of 1000 cards is none other than Trump himself. However, the identity of this exclusive buyer remains hidden to date.

Politically Motivated Criticism

Trump stepping into the NFT market certainly invited active criticism from the political corridors, particularly from the sitting Government.

For instance, the current US President, Joe Biden, didn’t hesitate in mocking the 45th President when he announced the launching of the NFT collection.

Biden wrote a tweet in which he deliberately used the words ‘MAJOR ANNOUNCEMENTS’ identically in caps as Trump did.

Even the political commentator, Lindy Li, did not hesitate in passing mocking remarks towards Trump with regard to his NFT collection.

She targeted almost every member of the Trump family’s promotional announcements including Trump, Melania, Ivanka, and Don Jr.

In the end, Li made an insulting remark that ‘how pathetic Trump’s family is who once lived in the White House’.

Somewhat similar were the remarks of Kurt Echenwald, who had been an ex-lead author at the New York Times. He Echenwald posted a blog in which he described Trump’s NFT sale campaign as the ‘worst ever’.

Keeping aside all the criticism, the fact is that buyers’ turnout was better than expected. In less than a day all were sold off and are being re-sold at quadrupled prices.

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