Over $16 Million Of Donald Trump NFTs Traded On OpenSea
Over 10,100 ETH worth of former U.S. President Donald Trump NFTs, translating to $16 million, have been traded, data from digital marketplace OpenSea shows on February 6.
People Want Donald Trump’s NFTs
The Trump Digital Trading Cards was launched in the ERC-721 format as non-fungible tokens (NFTs) deployed on Polygon by affiliates of Donald Trump, the 45th president of the United States.
45,000 Trump NFTs were minted in December 2022 on Polygon, an Ethereum sidechain. Each NFT was coined for $99, and all tokens sold out in less than 12 hours, raising $4.35 million.
Polygon MATIC Price on February 6 | Source: MATICUSDT On TradingView
Holders are incentivized with gifts to use the “Trump Sweepstakes.” Those who hold at least 45 NFTs stand a chance to have dinner with Donald Trump.
For every subsequent sale, the creator of the collection earns 10%. From this, it is estimated that the creator of the Donald Trump NFT collection has made over 1,000 ETH or roughly $1.65 million at today’s spot rates. NFT LLC is the team behind the collection. Trump licensed the use of his name but did not, in any way, own, manage, or control the collection.
At the moment, the floor price, or the lowest price the NFT can be sold for, is 0.559 ETH. Nonetheless, the best offer stands at 0.51 ETH, according to OpenSea statistics. Meanwhile, an NFT from the Trump collection was recently sold for 0.6 ETH on February 6.
Interestingly, there are 14,372 owners, of which 32% are unique. According to the creator, each Trump card minted is hand-drawn and inspired by “President Trump’s extraordinary life & career.” Collectors are free to purchase any of the six types of Trump NFTs. Those offered include the unique Trump Trading Cards, Gold & Silver Autographed Cards, and Business Trump.
Demand For NFTs Still High
Out of this collection, the one-of-ones are the rarest and the most expensive. There will be 1,000 of them. One was bought for 8.5 ETH, or $13,819.39 at ETH spot rates, in mid-January 2023. Another piece from the one-of-ones collection is also listed for 6 ETH. It depicts the former President holding a torch in front of the Statue of Liberty.
Trump NFTs have also been resilient and consistently drawing traders. Although there was a dip early this month on February 4, trading activity is picking up. To illustrate, the average trading volumes in ETH have risen from 37 ETH on January 31 to 155 ETH on February 3.
OpenSea statistics show that the average trading volumes are up roughly 1% in the past trading week, rising to 655ETH. During this time, 1,373 Trump NFTs have been sold at a floor price of 0.55 ETH. The floor price has also been on an uptrend per OpenSea data.
Feature image from Flickr, Chart from TradingView