NFT
Former U.S. President Donald Trump’s second set of non-fungible tokens (NFT), Trump Digital Trading Cards Series 2, sold out within the first 24 hours since launch, according to the project’s website.
See related article: Politics will be Trojan Horse for NFTs
Fast facts
- Trump’s second set of digital cards topped the global NFT sales over the past 24 hours, CryptoSlam’s data showed. It has generated over US$2.7 million in secondary sales since its launch on Tuesday and has 7,394 owners.
- The new NFT collection’s predecessor, Trump Digital Trading Cards Series 1, also sold out on the first day of launch in December 2022.
- Series 2 NFTs were sold for US$99 each on the Polygon blockchain. With 47,000 assets in the collection, the project is believed to have generated over US$4.65 million in revenue.
- Around US$2.6 million of the sales were conducted by wrapped Ether transactions, which suggests that the project has brought around US$2 million worth of new funds into the Polygon network, according to CryptoSlam.
- Forkast POL NFT Composite, an index measuring the NFT market activity on the Ethereum scaler, dropped 2.45% in the past 24 hours. The index fell sharply at around 3.5 hours since Trump announced the launch of his Series 2 NFTs.
- NFTs must be at least six months old to be included in the index, which is algorithmically designed to cover the top 100 smart contracts on a given day. The concurrent sales surge of the new NFT collection and a decline in the index indicates that some Polygon-based NFT traders have sold their holdings to purchase the new Trump NFTs.
- The launch of Trump Digital Trading Cards Series 2 on Tuesday led to a steep drop in the original collection’s floor price, or the minimum price of secondary sales.
- At NFT marketplace OpenSea, the new collection’s floor price dropped from 0.2 Ether (US$400), valued soon after launch on Tuesday, to 0.05 Ether less than 24 hours later.
- Trump’s recent financial disclosure revealed that he netted up to US$1 million in earnings from the first edition of his digital trading cards. Earlier this month, the former president pleaded not guilty to 34 felony criminal charges of falsifying business records.
See related article: Donald Trump helps Polygon NFTs outsell Ethereum on OpenSea exchange for second month
