Donald Trump, the former president of the United States, is a rather controversial figure. He most certainly has many haters, but he also has many supporters. It is not quite clear who prevail. This kind of explains the interest around the Trump NFT trading cards; although you would probably expect the prices to fall with Trump’s recent criminal indictment, they have seen an unprecedented growth within 24 hours after the news released.
Trump issued a set of NFT Digital Trading Cards on December 15 last year, with the supply of 45,000. The NFTs were sold within a couple of hour after the release. Currently, there are almost 14,000 unique owners, which is around 30% more than there were in December, initially. The NFTs were sold at $99 upon release. Currently, the floor cap of a Trump NFT card is almost 27 ETH, which makes it #25 on NFT Price Floor.
The Indictment
On March 30, 2023, it became known that Trump was criminally indicted by a Manhattan grand jury. Although the details of the case are yet to be released, the case likely traces back to 2016, when Trump allegedly had an affair with Stormy Daniels, who, as you can probably tell by the name, is an adult movie star. Trump’s lawyer was asked to pay her $130,000 hush-money to make sure she never speaks of that in public. Now, as the jury is investigating the case, Ms. Daniels, also known by her legal name Stephanie Clifford, is willing to pay it back in exchange for the ability to speak openly.
What makes Trump’s case special is that it is basically a historical event; no other American president has ever been criminally indicted. Trump claims he is being politically persecuted, but what else do you say when you are being accused of enjoying time with an adult movie actress outside her regular working hours? Of course, there is no crime in doing that. But we also don’t know what the real cause is, and why Ms. Clifford is so willing to speak about it now.
Trump and NFTs
The idea of Trump NFT belongs to Billy Zanker. Zanker pitched the idea to Trump, who released the trump cards for sale depicting himself as a cowboy, an astronaut, and a superhero. The release of Trump NFT trading cards was devoted to his 2024 presidential campaign with the slogan “America needs a hero.” The primary sales revenue of the NFT package was around $4M, while the secondary sales exceeded $16M. Zanker now owns 10% royalty of each secondary sale.
Trump NFT cards initially intended to come with certain perks. In particular, card owners were promised to be invited to gala and private dinners and play golf on the Trump estate. Now, turns out these NFT cards also have symbolic meaning, given the history behind the figure issuing them. If Trump goes to jail, it is unlikely that the collectors would be entitled to the promised perks, but it didn’t stop the hype around Donald Trump NFT, which made collectors sell them at a significant profit. Or, they suddenly realized they can’t play golf or don’t like galas.
What is the value of Trump’s NFT?
As with any other NFT, its value depends on a lot of factors. One of such factors is the history of previous owners. Trump’s NFTs were released relatively recently, so they do not have a history, but they are rather valuable because of who released them. The next factor is utility, which, in my opinion, is questionable, except for when you want to sell them at a profit. Yet another factor that comes into play is rarity. It is difficult to call these rare, although I don’t think a lot of people know where to buy trump NFT. Last but not least, NFT’s social impact. This right here is important, as these NFTs were released alongside Trump’s election campaign, which probably means something to a lot of people
What is Trump’s net worth?
According to Forbes, Trump’s net worth equals roughly $2.5B, which consists of almost $1B-worth real estate, around $750M-worth golf clubs and resorts, and roughly another $750M of personal assets, cash, social media, and brands. It is also worth noting that he has lost almost 50% of his net worth since 2015, when it was the highest, – $4.5B.
What is an NFT card?
NFT stands for non-fungible token. Those are similar to cryptocurrencies, such as Bitcoin or Ethereum, in terms of the technology behind them, but the key difference is that they cannot be equivalently exchanged. This is because each NFT is unique and, therefore, incomparable to others. Most NFTs are encrypted images, which are accessible only by the owners. Donald Trump NFT cards are no different.
What does the Trump card do?
Trump cards basically just exist. They do nothing. In its essence, it is just a piece of code. In fact, think of them as a souvenir brought to you by your auntie from her vacation in Greece last summer. It is just fun to own and remember. Also, someone can buy it from you later if you want to sell it, but its price will depend only on how much you are willing it to be sold for and how much the buyer is willing to pay for it.
Is Trump card free?
Trump NFT cards are not free. In fact, as their value has been on the rise due to the spike in public interest to Trump related to his recent indictment buy a Manhattan grand jury and the mystery around the case, Trump NFT price has also grown considerably. It is very likely they will become extremely pricey collectables in the future, especially if anything happens to Trump (if he goes to jail, dies, or whatever). We are not comparing Trump to George Washington, for example, but imagine some items created by the latter being kept and sold today. What price do you imagine they would cost? That’s what we’re talking about.
