Trump NFT Collection’s Trading Volume on OpenSea Hits 560 ETH
Billionaire and former US President Donald Trump’s NFT collection, the launch of which was a surprise both to the members of the crypto community and his supporters, has sold out in around 12 hours, raising $4.45 million in the process. Moreover, the collection currently has a trading volume of approximately 560 ETH, or over $670,000.
What is Trump’s NFT Collection?
Called “Trump Cards,” the collection features a series of digital “cards” depicting the former president in various iconic poses and situations, including a superhero, astronaut, cowboy, and even an athlete. A total of 45,000 NFTs were minted on the Ethereum layer 2 scaling solution Polygon. Trump said in an announcement on Truth Social:
“My official Donald Trump Digital Trading Card collection is here! These limited edition cards feature amazing ART of my Life & Career! Collect all of your favorite Trump Digital Trading Cards, very much like a baseball card, but hopefully much more exciting.”
The cards were priced at $99 each. According to its official website, buyers will be entered into a sweepstake, with the chance of winning prizes, including a gala dinner or a game of golf with Trump. The website reads:
“These are just like baseball cards, but you collect them digitally, on your computer or phone. All you need is an email address and a credit card to start collecting 1, 10, 20, or 100. Instantly become part of a new league of collectors.”
The collection came after the former President teased a “major announcement” on Truth Social earlier this week. However, many were not happy after the big announcement turned out to be the launch of his NFT collection.
In an apparent jibe at Trump, US President Joe Biden also took to Twitter to say that he had “some MAJOR ANNOUNCEMENTS the last couple of weeks too,” mentioning the recent decline in CPI figure, and his other recent achievements.
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Trump’s NFT Collection Sells Out in 12 Hours
Despite all the criticism and mockery, Trump’s NFT collection has sold out in around 12 hours. At $99 each, the collection of 45,000 NFTs raised $4.45 million.
Moreover, according to data by NFT marketplace OpenSea, the collection currently has a trading volume of 556 ETH, worth over $670,000. The collection’s creators also receive 10% off every sale on secondary markets like OpenSea. Therefore, they have so far made another $67,000 in royalties.
Notably, the project’s website claims that funds raised from the NFTs won’t be used for Donald Trump’s presidential campaign. NFT INT, the company behind the collection, is allegedly not owned by Trump or any of his organizations, rather the former President licensed his name, image, and likeness for the project.
Nevertheless, the collection currently has a floor price of over 0.09 ETH, or around $110, suggesting that early investors are potentially in profit. The project has 14,209 owners, and only 6% of the items, or 2,531 NFTs, are currently listed for sale.
Do you think Trump has changed his mind about crypto and blockchain technology? Let us know in the comments below.