Trump’s Second NFT Collection (Everything you Need to Know)
On 19th April 2023, Donald Trump, the 45th president of the United States, made a bold move by launching the second series of his NFT (Non-Fungible Token) collection called the ‘Trump Digital Trading Cards’. The new collection of 47,000 NFTs – depicting Trump in various flamboyant and superhero avatars, similar to series one – is also minted on the polygon blockchain.
Each card has a pre-assigned rarity quotient attributed to it with some being one of a kind, meaning that the buyer would be the only person with a copy and others being limited edition such that no Trump Digital Trading Card will have more than 10 copies in existence.
Trump NFTs – Series 2
Just like before, the price for each NFT in this series is set at $99 and buyers who purchase 47 NFTs will be rewarded with a dinner with the former president at his Mar-a-Lago estate in Florida. For those who purchase 100 NFTs, they will receive both the dinner and a unique collectible with rarity traits. Trump states that these NFTs are limited-edition collectible items for his supporters to own or trade off in secondary sales.
The second series NFTs attracted a lot of interest as all 47,000 NFTs were sold out within 5 hours of launch generating $4.6 million in revenue. However, it witnessed a rather underwhelming response from the secondary market as the floor price for this series – as reported by Open Sea – is around 0.053 Eth or roughly $108, just slightly above the token’s mint price of $99. For context, the first collection saw a six-fold increase in its floor price within the first day of its launch.
Its trading volume currently stands at 774 Eth, equivalent to roughly $1.5 million. Given that the price of Ethereum has rallied 40% since December to touch around $1900 today, returns on the second collection already seem to be lower in terms of both speculation and utility. One of the rarest NFTs in the collection, depicting Trump as the King of Hearts, is currently listed on Open Sea for 47 Eth or around $94,000. However, currently the highest bid on this NFT stands at only 0.84 Eth or roughly $1,600.
Donald Trump is no stranger to the NFT space as last December he announced himself on to the NFT market with his own collection of 45,000 ‘Trump Digital Trading Cards’. Priced at $99 each, they were sold out within 12 hours of the launch generating $4.45 million in revenue from the primary sales and an additional $2.5 million in secondary sales. The first series became the talk of the town as on 31st March, news related to Donald Trump’s indictment spread and it caused the price floor to surge by 24% along with a 404% increase in secondary trading volume over the day.
The drama continued as on 5th April, the first collection briefly topped the sales charts with a 462% spike in sales and the floor price rallied to 0.47 Eth upon reports of Donald Trump’s Arrest. Recent Filings indicate Trump made between $100,000 to $1 million from the first collection through a licensing agreement with the project’s creator.
However, the launch of the second series appears to have diminished the value of the first collection. According to data from NFT Price Floor, a steep decline was evident in the price floor for the first collection as it dropped by 60.37% over the 24 hours since the launch of the second series.
Open Sea data shows that the price floor for the first collection has fallen from 0.2 Eth or $400 to roughly 0.14 Eth or $280 as of now. Meanwhile, interest in the second collection appears to be fading too, with the number of sales dropping from highs seen on 19th April.
