Robert Steinadler, a month ago
He is not a fan of Bitcoin and is a strong proponent of the US Dollar. Donald Trump is one of the most controversial figures of our time. While he awaits trial on criminal charges in New York, Donald Trump is busy dropping hotter and more controversial NFTs. His supporters are once again hyped but the question remains if those NFTs will retain value. Should Trump lose in court or fail to run for president again, the value of both collections could be affected.
Why has Trump issued another NFT collection and are there any special perks attached to them like last time?
It didn’t take much time until speculators and loyal supporters bought up all NFTs of the second collection. The first one went viral last year and the second collection was themed in the same way as the first one. Picturing the former US president as a rock star, soldier, or king.
The pricing was moderate and each NFT was sold for only $99. Once again buyers could have dinner with Trump but this time without a raffle. Buying 47 trading cards sufficed to get a ticket and visit Mar-a-Lago. While series 1 had 45,000 cards, the second collection was extended to 47,000 cards hosted on Polygon (MATIC), an Ethereum side-chain.
The price for the cards remained the same as the creator’s earnings of 10%. Judging from the first collection, Trump might earn more money with royalties on the secondary market than he did with the original sale.
The market reacted heavily to the news and the price for the first collections dropped about 58%. However, the floor price of the first edition is still 0.14 ETH at the time of writing. This means that initial buyers who got a deal from the official website still tripled their money in terms of the Dollar value of the NFTs.
Trump is not a supporter of cryptocurrencies but his family seems to be very active when it comes down to blockchain technology. Melania Trump also sold several NFT collections featuring the former first lady. With Donald Trump being one of the most controversial US presidents of our times, it remains to be seen if those trading cards will become a success.
Should Trump manage to run for president again or even be voted into the oval office for a second term, the price of digital cards could increase drastically. Needless to say, this trade works in both directions and they also could fall in price should Trump fail with these plans. One thing is for sure, should he issue more cards the price is diluted along with the supply.
Featured image: © Joseph Sohm / Shutterstock.com
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