Donald Trump’s NFT’s floor price drops 80% in 10 days Donald Trump’s NFT’s floor price drops 80% in 10 days
The floor price for the former president's NFT collection is around 0.16 ETH.
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Updated: Aug. 15, 2023 at 4:21 pm UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
Former U.S. President Donal Trump’s NFT collection, Trump Digital Trading Cards, lost 80% of its value as the floor fell to 0.16 Ethereum (ETH) from 0.84 ETH ten days ago.
According to OpenSea data, 45,000 NFTs are currently owned by a total of 15,115 owners, which equates to a 34% unique owner rate.
The NFT line
Trump launched his collection on Dec. 15 with 45,000 NFTs available for minting during the Sweepstakes Entry Period. Each NFT costs $99 during the entry period, which equates to 0.083 ETH based on the ETH prices at the time of writing.
The owner of the NFT line is NFT International LLC, which clearly stated that it is not “owned, managed or controlled” by former President Donald Trump. Selling each NFT for $99, the company was able to make $4.45 million upon launch. NFT International LLC is also taking a 10% cut on each trade, which equates to over $1 million in revenue, considering that the project’s current volume is 7,683 ETH at the time of writing
A few days after its launch, the NFT line received heavy criticism concerning internal minting, licensing errors, and alleged design plagiarism, corresponding to the time frame when the floor price started falling. The project minted 1000 NFTs internally, which included 68 rare NFTs in the collection, and the NFTs that include 47 of 179 1/1’s and 21 of 70 are autographed NFTs.
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Zeynep Geylan
Zeynep is an academic who turned to crypto in 2018. Originating in social sciences, she is especially interested in the social impact of blockchain and cryptocurrencies and strongly believes in their transmuting power.
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Ethereum is a decentralized, open-source blockchain platform that enables the creation of smart contracts and decentralized applications (DApps).
OpenSea
OpenSea is a decentralized peer-to-peer marketplace for buying, selling, and trading NFTs.
A businessman, politician, and media personality, Donald John Trump served as the 45th president of the United States from 2017 to 2021.
