Why Are Donald Trump NFTs On the Up?

After reports a few weeks ago about the stark decline of Donald Trump’s NFTs being “dead”, the former US President’s NFT collection has seen a meteoric rise in recent days, for no clear reason.

Quick Take:

  • Donald Trump’s NFT collection, ‘Trump Digital Trading Cards’ have seen a rise in bizarre fashion. This comes weeks after some NFT news outlets marked them as “dead”.
  • The sales increased 800% in 24 hours earlier this week, and have maintained a solid price since.
  • This has left the NFT community confused

Donald Trump’s NFTs: The Revival

A few weeks ago, several news outlets were reporting that former US President, Donald Trump’s NFT collection: ‘Trump Digital Trading Cards’, was “dead”. However, in a strange turn of events earlier this week, the project increased in sales numbers drastically.

On Tuesday, $34,000 worth of Donald Trump NFTs were sold, but on Wednesday, the figure jumped to a whopping $306,000. Since the project launched back on December 15th, the NFTs have plumited to a floor price of less than 0.1 ETH on several occasions. Today, the OpenSea floor price is over 0.28 ETH, or around $470.

However, this price point has not been the pinnacle of the collection, when he received a shoutout on ‘Saturday Night Live’. This happened just two days after the launch, which saw the floor price going up to around $1000.

Although no reason is clear to why the collection is rising in price, Trump has been in the news this week for other reasons. His team are aiming to reinstate his social media accounts on major platforms like Facebook and Twitter after he was banned. He hopes to return to the social networks to boost his future campaign. He looks to start his 2024 Presidential campaign and return as the POTUS.

The Collection’s Controversies

Since the launch of the 44,000-piece collection, Donald Trump and the team behind the project have seen many criticisms. He got these even from his supporters politically, who questioned his decision in launching NFTs.

Within web3, many attacked him, noting that the collection’s launch was clearly a cash grab from the former host of ‘The Apprentice’.

Donald Trump and his NFTs may have come into legal trouble if the affected took him to court. This is because the collection used several unlicensed images from some major names. Companies such as Walmart and Amazon had their pictures of costumes used which Donald Trump’s characters wore in the project.

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