Donald Trump’s NFT Sales Down 99% Since Launch – Cryptonium News

Donald Trump’s NFT Sales Down 99% Since Launch

The former U.S. president’s digital collection has sold a total of $10.2 million worth of tokens in less than a month since its launch.

According to analyst platform CryptoSlam, sales of Donald Trump’s NFTs have declined by more than 99% since the tokens began trading in mid-December. In the first three days of the collection’s launch, sales reached $5.7 million, peaking at $3.5 million on December 17. Transaction volume then began to decline, and by January 11 sales had fallen to $24,000 per day.

On December 15, 2022, former President Donald Trump released a collection of 45, 000 NFTs. The tokens are images of playing cards in the form of collectible baseball cards; NFTs are issued on the Polygon blockchain and can be purchased with Ethereum or legal tender. Collectible cards are offered in varying degrees of rarity, from one copy to two, five, seven, and ten copies.

44, 000 NFTs were sold for $99 each. All tokens sold out in the first 24 hours. For example, Forbes previously reported that the primary sale brought in about $4.4 million for the project. Total sales of the former U.S. President’s NFT totaled $10.2 million in the first month of the project.

According to CryptoSlam, only 39 unique buyers have interacted with the project in the past 24 hours, compared to about 2,000 in mid-December. The most expensive NFT, signed by Trump with a photo of him in a suit, sold for 37 ETH (about $46.7 thousand).

Trump’s lowest NFT price on the OpenSea platform (the lowest single NFT in the collection, the lowest price) is 0.169 ETH (about $225), more than double the original price.

According to the marketplace, 9.7 thousand users have one token each, 3.4 thousand people have purchased 2-3 NFTs each, 1.2 thousand people have purchased 4-10 tokens each, and 87 NFT fans have each purchased over 50 digital items from the Trump collection. . 1.2 thousand people each purchased between 2 and 3 NFTs. .

Overall, the NFT market, like the virtual currency market, took a hit in 2022. Falling prices for major coins and industry bankruptcies led to a drop in demand, followed by a drop in token prices. In December, however, NFT sales surged for the first time since last August, with $678 million in tokens sold that month. Not all results could be bootstrapped. 

Cryptonium Editors