By James Davis
Former United States President Donald Trump’s Digital Trading Cards gained popularity in the crypto space when they launched a few weeks ago. However, the hype has since faded massively. On Wednesday, the secondary market sales for Trump’s NFTs were just over $58,200. That is a 97% decline from the peak sales day of about $3.4 million on December 18.
Despite the sharp decline, Trump’s collection is the 70th best-selling NFT project over the past 24 hours, as per CryptoSlam. However, these NFTs only saw $43,000 in sales compared to the leading project, the Bored Ape Yacht Club, which recorded $1.8 million in sales over the same span.
Trump’s NFTs Record 81% Price Decline From Peak
Initially, the NFTs sold for $99 a piece during the minting stage; however, the floor price of the listed Trump’s Trading Card on marketplaces peaked at about $991 on December 18. Today, the floor price on the leading marketplace, OpenSea, is 0.14 ETH ($180), but some of the NFTs have sold for $130.
Trump’s Trading Cards launched on December 15. The creators of these Polygon NFTs availed 44,000 pieces to the public and kept another 1,000. The NFTs depict the disgraced former president as an astronaut, cowboy, and more. Each collectible gave the holders a ticket to win prizes and even a dinner date with Trump.
Trump’s NFTs Face Criticism
Trump’s NFTs have attracted massive criticism, some from his supporters. Many claimed that several artwork elements in the NFTs got stolen from online apparel imagery and that Trump’s team was holding an unwarranted amount of the Rare NFTs in the collection. Additionally, a group of initial buyers complained of technical glitches.
Regardless of the criticism, the buzz around the NFTs still drove secondary market demand during the first days. As a result, some NFT traders identified an opportunity to benefit from flipping Trump’s controversial NFTs. However, the trading volume and prices of the NFTs crashed a few days later, and the market doesn’t appear hungry for those Digital Cards anymore.
Previously, Trump had publicly indicated that he was not interested in crypto; however, in a recent interview, he said NFTs are “cute artworks” and that he does not see them as an investment. His project has so far generated nearly $9.7 million in secondary sales, with his team earning a 10% commission as royalties from every sale.