The recent release of the “Donald Trump Digital Trading Card” collection of non-fungible tokens (NFTs) has caused a stir in the cryptocurrency world. The collection of 45,000 NFTs was released without warning and sold out within 24 hours at an initial price of $99 each. Despite significant volatility, the floor price for these collectible cards remained above 0.839 ether (ETH), or about $1,000, for part of the weekend.
However, there are a few unusual aspects to the Trump NFTs. Firstly, they are being sold by a company called NFT INT LLC that holds a license for the Trump brand and image, rather than Trump himself or his businesses. Secondly, some of the images on the NFTs appear to have watermarks from Shutterstock and Adobe, leading to speculation about the quality of the work. Finally, data from Dune Analytics shows that only a small percentage of the NFTs have actually been bought and resold, with a majority remaining in the hands of the original buyers.
Despite these peculiarities, the Trump NFTs have proven to be a successful venture, with their floor price remaining high on the secondary market. The popularity of NFTs has been growing in recent years, with celebrities and major brands using them as a way to sell unique digital assets and collectibles. It remains to be seen how long the Trump NFTs will maintain their high value, but their success shows the enduring appeal of NFTs and the power of the Trump brand.