Ups and Downs of the NFT collection Trump Digital Trading Cards

Motives of a former president of the USA

In the world of digital assets you will not often, to put it mildly, come across a situation when a former president of any country appears as the main character of a non-fungible token collection. Donald Trump has become a sort of pioneer in this matter.

The person who used to claim that the cryptocurrency industry is a dubious business in which he would never be engaged, has become the face of a collection named Trump Digital Trading Cards. Why?

The answer is likely to lie in the fact that it will help him to not only get more media attention but also earn solid money. In fact, Trump did not create the NFT token but just gave his permission to use his image and name to create the assets he gets an interest from.

As for his share in the project, there is no information about it. but we know for sure that this undertaking will help him to earn money for running his election campaign for the following US presidential election. The collection was developed by NFT INT. They reported that the generated money will be spent on the fund of Trump’s election campaign, which cannot be said about the money that Donald Trump will earn himself.

Donald Trump explained that the aim of the release of the NFT collection was an attempt to diversify the world of art and make it a bit more cute. The set of NFTs has been criticized and ridiculed repeatedly, including at the Saturday Night Live, however, it attracted more and more people which resulted in great sales and helped the tokens to grow in value and the number of deals.

Special features of the NFT collection

The collection contained 45,000 NFTs with pictures of the former president in different cosplay styles where you can find an astronaut Trump, a cowboy Trump and other unusual styles. The number is different from what other creators of non-fungible tokens offer. Typical sets usually consist of 5,555, 10,000 and 20,000 tokens,1,000 is more rare. However, NFT INT did their best and made 45,000 non-fungible objects.

The distribution of non-fungible tokens is run on the Polygon net which is a side chain of Ethereum. Purchase of such tokens allowed users to take part in a lottery where they could win a dinner with the former president or a chance to meet him at his villa.

The creators of the projects managed to sell over 44,000 non-fungible tokens in less than a day. It brought them over $4,000,000 from the initial sales. The developers decided to keep the other 1,000 for themselves. After the mint of the NFTs and the start of sales on OpenSea, the creators of the non-fungible objects earned another $10,000,000 of interest thanks to the fact that they have 10% from each fulfilled transaction.

Nevertheless, after people started talking about these coins for a very long time and brought great revenue, the hype around the NFT collection decreased eventually. Customers seemed indifferent and Crypto Twitter that was casting the events of the Trump Digital Trading Cards sale switched to another coin and also lost their interest.

Up and down of the collection

Official trading cards of Donald Trump were released less than a month ago, however, there was a lot of hype around the collection, however, popularity of the collection has already started to drop and fewer and fewer people are interested in purchasing the items now.

Experts of the CryptoSlam platform found out that 2 days ago the trading volume of the Trump Digital Trading Cards collection in the secondary market reached a new daily minimum. Enthusiasts of this token set traded only ~$21,000 in 24 hours. In 2023, the biggest daily sum of NFTs accounts for almost $33,000. This value was recorded on the fifth of January.

The weak data shown on the 8th of January states the 99% drop of the daily value in comparison to the 17th of December when the interest in Trump Digital Trading Cards peaked. Then traders from anywhere in the world participated in trading of Donald Trump’s images and exceeded $3,500,000 in fulfilled transactions. One of the days set the record of over 2,000 unique users.

A day prior to that the total value was not as colossal as on 17 December, however, a day before the record was broken the cards had been exchanged by over 3,300 unique users.

Now daily sales dropped 98% on average in comparison to what we could see on 17 December. On Sunday the records showed negligible numbers: only 28 unique users traded the cards. On 8 January, only 98 transactions were recorded.

The same decline tendency was shown by not only the volume and number of traders but also the cost of the tokens. The minimum price of the cheapest NFT peaked at 0,84 Ethereum (~$995), nowadays it has fallen to 0,159 ETH (~$211).

Despite this, the asset could not be considered unprofitable as initially the tokens were minted for $99 which is twice as less as the current price. However, if people started to get interested in the collection after the interest peak, they may have lost their money.

This destiny awaits countless collections

It’s worth noting that the majority of NFT token work in this way and show peak sales in the short-term after its launch. Later, as in the case with the Trump’s collection, interest declines and prices decrease dramatically.

It is more rare to stumble upon a case when a collection of non-fungible tokens maintains interest for a long time and develops. An example of this rare case is the legendary Bored Ape Yacht Club and Crypto Punks.

Nevertheless, 2022 treated ruthlessly even with these two collections. Many investors who put their money into BAYC lost its bigger part because of Ethereum decline and decrease of the values of the tokens. At the moment Ethereum costs $1,325.