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Hype around Donald Trump’s NFT cards rises as trading volume surpasses $600,000

Hype around Donald Trump's NFT cards rises as trading volume surpasses $600,000

The cryptocurrency industry has been attracting famous people from all walks of life, and the most recent addition is the former president of the United States, Donald Trump, who has launched a collection of non-fungible token (NFT) trading cards.

Indeed, the former U.S. president has launched an initial series of 45,000 Trump Digital Trading Cards minted on the Polygon (MATIC) blockchain, making an announcement of the launch on his social media platform Truth Social on December 15.

Trump’s announcement of the NFT collection launch. Source: Truth Social

It should be noted that a lot of people were earlier skeptical about the former president’s “major announcement,” speculating that Trump was going to be naming his running mate for the 2024 election, with the NFT announcement coming as a major surprise.

Popularity of Trump’s NFTs

Twelve hours after the launch, the digital cards depicting Trump’s “extraordinary life & career” have been completely sold out at their original price of $99 (plus transaction fees) per NFT as the public’s interest grows and trading continues.

By press time, the trading volume for the NFT collection has soared past 520 ETH, which is currently worth around $631,400, taking into account the price of Ethereum at the time of publication, and continues to climb fast.

Volume and price of Trump Digital Trading Cards. Source: OpenSea

As the reselling continues, there are currently 14,125 owners of the former president’s NFT cards, 31% of which are unique owners, as the average price of a single digital card stands at 0.1032 ETH or about $125.

Trump Digital Trading Cards listing. Source: OpenSea

Further breaking down the results, 63% of Trump NFT cardholders own a single former president’s NFT, 24% of them hold two or three cards, whereas 0.6% or 91 owners currently own more than 51 items from Trump’s digital card collection.

Trump NFT owner distribution. Source: OpenSea

Interestingly, the former first lady Melania Trump had jumped on the NFT train before her husband, as she launched an NFT platform on the Solana (SOL) blockchain in December 2021 to reflect her “passion for the arts,” as Finbold reported.

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