Donald Trump’s NFT Series 2 Sells-Out Worth $4.6 Million, But Floor Prices Take a Hit

According to reports, Donald Trump reported on the social media platform Truth Social that his newly launched NFT series Trump Digital Trading Cards Series 2 has sold out a total of 47000 digital trading cards, totaling $4.6 million. However, the floor prices of these transaction cards have significantly decreased, with OpenSea data showing that the floor prices of this series have dropped from 0.42945 ETH to 0.18 ETH in the past 24 hours. （AOL）

Donald Trump claims to earn $4.6 million from his new NFT

Introduction

Former US President, Donald Trump, recently announced that his NFT series, Trump Digital Trading Cards Series 2, has sold out within hours of its launch on the social media platform, Truth Social. However, while the sales figures are impressive, the value of these cards has taken an unexpected decline in recent days, causing concern among investors and collectors in the NFT market.

Overview of Donald Trump’s NFT Series 2

Donald Trump’s newly launched NFT series consists of 47,000 digital trading cards, which are an extension of his first NFT series featuring iconic moments from Trump’s presidency. The second series includes a collection of digital trading cards with various portraits and images of the former president, along with exclusive voice messages and video greetings. The auction for the NFT series started at 4 p.m. ET on Nov. 7 and ended within hours, generating a revenue of $4.6 million, as per Trump’s tweet on Truth Social.

The Blitz Sale and Floor Prices

Despite the massive sales figure, the floor prices, which represent the minimum value of the NFT, have undergone a significant dip. OpenSea data revealed a 58% drop in the floor value of these cards, which fell from 0.42945 ETH to 0.18 ETH in the past 24 hours. This sudden shift in prices has created confusion among investors and collectors, who are now concerned about the long-term value of these NFTs.

Possible Reasons for the Decline in Values

The sudden dip in floor prices could be attributed to a declining value of NFTs in general. This trend was evident in the NFT market in recent months, with the total value of NFT sales dropping from $2.5 billion in May to $756 million by September. Additionally, the oversupply of NFTs and the emergence of new market players could have saturated the market, leading to a reduction in prices. Furthermore, Donald Trump’s controversial reputation and his recent denial of election defeat could have played a role in the declining value of his NFTs.

Future of Donald Trump’s NFTs

Despite the declining NFT prices in the market, experts predict that the Trump NFT series will retain its value in the long run. The controversial nature of the cards and its ties to the former president could make it a highly sought-after item for collectors in the future. Furthermore, the use of NFTs in the political realm is relatively new, and the Trump NFT series could set a precedent for others to follow. Its exclusivity and uniqueness could make it a prudent investment for those willing to wait for its long-term value to soar.

Conclusion

In conclusion, the dramatic sale and sudden decline of Donald Trump’s NFT series 2 have raised questions about the future of NFTs in general and the value of Trump’s series in particular. Nonetheless, given its controversial background, exclusivity, and uniqueness, the Trump NFT series could become a focal point in the political NFT market and a valuable investment in the long run.

FAQs

Q1. What is the value of Donald Trump’s newly launched NFT series?
A1. The series generated a revenue of $4.6 million on launch day.
Q2. Why did the floor prices of the series show a decline?
A2. The sudden dip in prices could result from a variety of reasons, such as oversupply of NFTs, declining value of NFTs in general, and the controversial nature of Trump’s reputation.
Q3. Can Donald Trump’s NFT series become a valuable investment in the long run?
A3. Yes, the uniqueness and exclusivity of the cards, along with its ties to the former president, could make it a valuable investment in the long run.