It seems official: Donald Trump’s NFT It’s plummeting, the hype is fading, and it’s down about a dollar 70%.
Last week, Donald Trump’s first official NFT collection was news of the moment in the cryptocurrency world, captivating people around the world. twitter.
Either way, both indicators fell sharply after the weekend’s rally in prices and volumes, as enthusiasm about the former US president’s project apparently waned.
Donald Trump’s digital trading card minted polygonscaling network peaked on Saturday, December 17, with trading volume of $3.5 millionaccording to crypto slam data.
In addition, Sunday sales prices rose even higher, with NFTs averaging just over $680 each, while the total volume was close to $1.95 million On that day.
Donald Trump’s NFT in Free Fall: Was It Only Initial Enthusiasm?
Despite the initial success of Donald Trump’s NFTdaily trading on Monday appeared to be down about 57% $836,000 ETHthe average selling price is about $466However, these days, the cheapest playing card NFTs sold in the main high seas The market is trading at just 0.21 ETH, around $255.
Specifically, Trump launched a digital trading card NFT last Thursday. 44,000 NFTs They sold for $99 each in the primary sale.
Buyers were incentivized by the chance to win a meeting and dinner with the former president, among other potential perks.An additional 1,000 of her NFTs are held by the project’s creator, totaling 45,000.
And despite widespread teasing and criticism of the project, including some of Trump’s supporters, the project sold out within 24 hours, stimulating secondary market demand. $8.7 million.
Momentum peaked over the weekend, reaching the lowest price or cheapest listed NFT 0.84 ETH (about $990) Saturday.
Prices bounced up and down in a volatile market before NFT teased NBC’s late-night comedy show. saturday night liveAfter three days, the lowest price fell by 74% when measured in US dollars.
Trump’s digital trading card project ranks 10th on CryptoSlam’s list of best-selling projects in the last 24 hours.
it has about $472,000 Sales during that period were Bored Ape Yacht Club top list of $3.8 million At the sale of NFT.
Why Are Trump’s Digital Trading Cards Criticized?
In addition to being a combination of the already divisive topics of playing cards and NFTs, the project has been criticized for using apparently stolen artwork for some cards. The 1,000 NFTs held by the NFTs observer.
Yet, on Saturday nights, digital collectibles are thrust into the cultural spotlight as the subject of satire on the late-night comedy show Saturday Night Live.
Last night’s episode actually opened with a skit by a comedian. james austin johnsonmimicked the announcement of the former president announcing digital collectibles.
Johnson’s portrayal of Trump refers to NFTs in “jargon”: “Nifty” Comedian said:
“It sounds like a scam, in many ways a scam, but we love playing cards.”
Johnson also referenced ongoing investigations surrounding Trump, including the comedian’s alleged mishandling of classified information while satirically promoting his digital collectibles.
Also holding up a box full of papers labeled “Confidential,” the comedian said:
“The best part is that each card automatically has a chance to win a special Mystery Prize that you can choose anything from this cool box.”
