Donald Trump, a former president of the United States, generated a lot of interest today by announcing the release of his NFT collections. He unveiled the “Trump Digital Trading Card” series NFT earlier today. Given Trump’s animosity toward the cryptocurrency industry, the crypto community was taken aback by
this action. He then set the price for them on the Polygon chain at $99.
In just 12 hours, all 45,000 Donald Trump Trading Card NFTs were sold out, and people have since traded them for millions of dollars on the secondary market. On Truth Social, the website he switched to after being barred from Twitter last year, Donald Trump hinted earlier this week that he would be making a “big announcement.” Trump was expected to reveal his running mate for the 2024 presidential election or some other significant campaign announcement, according to certain rumors. Even some of Trump’s followers were let down by the revelation that there would be an NFT collection with Trump-related items.
A total of 34,000 digital trading card NFTs were produced within hours of the game’s release. At the time of publication, the money made from the selling of these NFTs was $4,356,000. Additionally, 255 wallets contained more than 45 mints. Total mints had earlier today topped 7K, according to Dune data. However, at the time of writing, it was at 4409.
Additionally, Donald Trump’s most recent NFT collection included 12,874 minters in total. It should be remembered that 45,000 were distributed on the Polygon chain. These NFTs could be taken out by users using WETH or credit cards. In addition, the authors of the collection receive 10% of each sale made on secondary marketplaces like OpenSea.
Is Donald Trump attempting to gather money for the 2024 election?
The company responsible for Trump’s most recent NFT collection NFT INT should be emphasized. The platform, however, stated unequivocally that these donations would not be applied to Trump’s 2024 presidential campaign. But it’s also important to keep in mind that the former president will probably earn money by selling the rights to his name.
While it’s unclear how the money raised through this collection will be used, internet users had a blast. They poked fun at Trump’s “cringe” NFT collection on Twitter in a variety of ways. The funniest thing he could have done, in all honesty. Thank you, Mr. Former President, for always carrying out the most idiotic imaginable plan.
3,32,000 users use Polygon to mint and trade NFTs.
Donald Trump, a former president, published a collection of 45,000 NFTs. The Polygon-minted tokens were sold out in less than a day, like hot pancakes. According to OpenSea data as of press time, the entire value of the collection of Trump Digital Trading Cards was 6332 ETH, or almost $7.5 million. The floor price also included a value of 0.344 ETH ($406.74). The same represented an approximate 4x increase from its initial launch price of $99. Trump’s decision is probably designed to combine NFT fan involvement with politics ahead of the next presidential election, according to community responses on social media platforms.
Increased Polygon Network Activity
The debut of Donald Trump’s NFT collection appears to be one of the things that have benefited the Polygon network the most. Trump Trading Cards were the most costly items purchased on Polygon in the previous 24 hours, according to data from the data analytics and insights company Nansen. The top 12 most expensive tokens ranged in price from 28.5 MATIC to 3.4 MATIC (about from $22.8K to $2.7K).
Additionally, there has been a huge improvement in the weekly metrics. The Polygon blockchain had 332,000+ users minted or exchange NFTs over the course of the previous week, as shown below. In fact, at the time of publication, both the number of mints and the number of Polygon OpenSea users had reached their best levels since November 21.
Regarding statistics for the lone collection, data from Dune Analytics showed that 12.874 people generated an average of 3.5 NFTs after the collection’s release. At the time of publication, the collection’s total number of trades reached a peak of 22.6k.(Opens in a new browser tab)
The NFT Collection by Donald Trump is Sold Out
Donald Trump NFT collection sells out within hourshttps://t.co/D0b2BMFMOp
— The Block (@TheBlock__) December 16, 2022
The data shows that there were over 1,000 ETH, or over $1,200,000, traded. The collection’s floor price is approximate.125 ETH, or $150, has been attained. Its arrival price of $99 is also far exceeded by a factor of many that sum.
Today marks the official sale of the much anticipated Trump NFT digital card collection. The non-fungible token set’s prices are rising as a result of yesterday’s initial announcement and the resulting sell-out. The prices for the various tokens vary to varying degrees, according to Coindesk. The report mentions that the most expensive NFTs in the collection, the one-of-ones, were going for more than 6 ETH each. According to the same research, only 2.4% of the 45,000-unit collection is made up of 1,000 uncommon tokens.
Additionally, one of the collection’s most well-liked Trump NFTs has reached unbelievable price points. The item in question was marketed for 20 ETH and was a one-of-a-kind painting of the late President Trump standing in front of the Statue of Liberty while holding a torch. It is equivalent to $24,000 US. Following yesterday’s introduction, the $99 digital trading cards generated a tonne of media attention. Considering that the 45th President of the United States was shown in a variety of images on the 45,000 NFTs.
Trump’s social media channel Truth Social served as the initial forum for the set’s announcement before it was created on Polygon. It is possible to buy NFTs with fiat money or ether, with some purchases triggering additional benefits. An invitation to a gala dinner with Trump would be included with the purchase of 45 NFTs, for instance. The client’s cost for that purchase would be just $4455.
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