Second Series of Trump NFTs Unveiled
On April 18, former U.S. President Donald Trump dropped his second series of non-fungible tokens (NFTs) as part of his upcoming presidential run in 2024. The collection features 38,001 trading cards minted on the Polygon blockchain network.
Pricing and Sales Figures
The NFTs initially sold for $99 each and now have a floor price of 0.0659 ETH ($145) on OpenSea, with a trading volume of 592 Ether, or over $1.2 million. Trump’s 10% creator fee has generated over $100,000, while the initial subscription sales added another $3.76 million in revenue.
Trump’s Take on Pricing
In an Instagram post, Trump explained that he kept the price the same as the first series to benefit his fans and supporters. He claimed that he could have raised the price, which would have resulted in more revenue for him, but he chose not to, questioning whether he would receive any credit for this decision.
Impact on the Initial Series
The launch of the second series has had a noticeable impact on Trump’s first NFT collection. According to OpenSea, the floor price of the initial series has dropped by 61% in the last 24 hours, while the trading volume has surged by 1,011%.
NFTs and the 2024 Presidential Race
As Trump gears up for his 2024 presidential bid, the release of his second NFT collection suggests that he may be leveraging the popularity of digital collectibles to connect with supporters and raise campaign funds. While the long-term impact of this strategy remains to be seen, it’s clear that Trump is eager to explore new avenues in the ever-evolving world of digital assets.
Conclusion
The release of Trump’s second NFT collection, amid plummeting value and ahead of his 2024 presidential run, indicates a willingness to embrace innovative fundraising methods and engage with supporters through digital assets. While the short-term impact of this strategy has seen mixed results in the NFT market, the long-term effects on his campaign and the role of NFTs in political fundraising remain uncertain. As the 2024 election approaches, it will be interesting to observe how the marriage of politics and digital collectibles continues to evolve.
