NFTs, or non-fungible tokens, were the talk of the town a year back, but recently we are not hearing much about them. However, recently, it got hyped up after Donald Trump’s NFT collection sold out within a day. According to the data from Opensea, the current trading volume of the collection is 900 Ethereum or around $1.08 million.
Donald Trump’s NFT collection
The floor price of the NFT collection was $99, and now it is more than double that at around $230. This is just the average price, and some of the NFTs in the collection are trading at even higher prices. Can you guess what the rarest NFTs in the collection are selling for right now? They are going for around 6 ETH. There are about 1000 such NFTs in this 45,000-unit collection. There is even an NFT trading for 20 ETH where the 45th president of the president is holding a torch and standing in front of the Statue of Liberty.
Data shows that nearly 13k users minted the NFT tokens after it was released. There were around 115 customers purchasing 45 NFTs each because that gives them a guaranteed ticket to have dinner with Donald Trump. Then there were 17 people who purchased 100 NFTs each. It was the maximum amount that a user could mint.
Why did Donald Trump bring NFTs?
Trump knows that the NFTs economy depends a lot on brand value, and his name alongside a collection is bound to get sales and users. Since only people who are ardent supporters of Trump are going to buy the collection, he has also included some small tricks to get more people into his NFTs. One of them is the chance of winning a ticket to have dinner with Trump. There are also prizes like playing 1 hour of golf with him and personal zoom calls.
It’s funny that all these things that trump offered actually worked, and people paid $99 for his photos, with the collection selling out in a day. This is really working for Trump to generate a good amount of revenue even though he is not in power.
What are your thoughts on Donald Trump’s NFT collection that sold out within a day? Let us know in the comments below. And if you found our content informative, share it with your family and friends.
Also Read: FTX employees paid Michigan senator to get favourable crypto laws.
