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- Trump NFTs have been in many ups and downs since last year itself.
- After the upliftment from the Trump bans on various social media platforms, it has seen a new light. News regarding that he will run for presidential election in 2024 is out.
NFTs trading cards featuring 45th U.S. President Donald Trump, when launched in December 2022, saw a demand at first, then suddenly slumped in January this year.
The NFT trading cards minted on Polygon, previously called as Matic Network, is an ecosystem for connecting various blockchain networks. It targets a few flaws in Ethereum network, such as throughput, problem of speed, delayed transfers, less community governance, etc.
Past story
According to media reports, over 44,000 Trump NFTs out of 45,000 were sold in a single day, accounting for a 900% hike in late January 2023. The project made $11 million (according to data from CryproSlam) with total 15,140 ownerships since its launch. The roller coaster ride started earlier this year, with the collection having its all-time low of 21,272 USD, which was nearly 99% lower when compared to its upside of $3.5 million in mid-December 2022.
Though he was banned from Twitter in 2021, he made a comeback after Elon Musk bought the social media giant for $44 billion last year. Almost 10 social platforms including Twitch, YouTube, Facebook, Instagram, Shopify, Snapchat, Reddit and more banned Trump and his allies, according to The Washington Post reports in 2021.
According to CNN reports in November last year, Trump noted that he will appear for the presidential election held in 2024. Joe Biden, current U.S. President and his competitor who booked a win over him in the 2022 election, also said that he may run for re-election in 2024. The 78 year-old former U.S. official said that “We have to save our country.”
How far have it reached?
According to a news website, other remarkable collections in the NFT sector saw a decline too, with Bored Ape Yacht Club (BAYC) seeing a decline of almost 30% in early January 2023. Whereas, Mutant Ape Yacht (MAYC), experienced a 38% increase at the same time. Among all famous collections, CryptoPunks saw the most percentage of downfall, with a 40% decrease in its sales.
In February 2023, nearly $2.4 million value (according to data from CryotoSlam) of Trump NFTs were sold this month, which is the whole of last month’s total sales of mere $2.6 millions. Its average sales price has crossed $1032.80 per trade, which has sales of $116,963, accounting for more than 70% decline in the last 24-hours.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
