![]() ![]() ![]() It’s not clear how much Trump himself will take from those profits. On the Trump Digital Trading Cards website, the Trump collection claims to be “sold out” and the floor price for a single card has risen to $177.99, according to analytics site CoinGecko. It bears noting, however, that despite the bad timing Trump’s NFT collection has shot to the top of NFT marketplace OpenSea’s ranking and has raked in more than $1.4 million since its launch. The crypto winter is showing few signs of thawing as prices fall to new lows, and regulators and Congress now have crypto in their sights. The dramatic fall of major crypto exchange FTX (and its founder Sam Bankman-Fried) has been the cap to a tumultuous year in the space, with the total market value of crypto drop more than 63%, according to Coinmarketcap. NFTs have tumbled in value during the so-called crypto winter brought on by fading interest and overall chaos in the crypto markets. A collector can now buy a Bored Ape Yacht Club NFT - the most famous collection in the space - for a measly $80,466, an 81% drop from its peak value. Trading volume on NFT marketplace OpenSea is at its lowest since June 2021, according to Dune Analytics. Total NFT volume last month was down 89% from its peak in January, according to CryptoSlam. Digital cartoon apes and other NFT imagers became ubiquitous as celebrities hawked them on-air and on social media. NFT art and collectible collections exploded in popularity and value beginning in 2020. Non-fungible tokens are digtal art and collectibles that are typically bought with cryptocurrencies. The former president’s hyped-up “major announcement” turned out to be a set of digital trading cards for $99 a pop, sparking widespread mockery from late-night hosts to even some Trump loyalists like Michael Flynn and Steve Bannon.īut the worse news for Trump is that, by almost any metric, the NFT bubble has burst. Donald Trump’s entrance into the NFT world came at the worst possible moment.
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