Trump Releases Largest Set of NFTs Yet, But Market Response is Lukewarm
Last year, former US President Donald Trump entered the world of NFTs with his first set of digital trading cards, sparking excitement and criticism while generating millions in sales. Following a second round earlier this year, Trump has now launched his largest collection of NFTs to date.
The Trump Digital Trading Cards: MugShot Edition
The new collection, called the Trump Digital Trading Cards: MugShot Edition, consists of 100,000 NFT collectibles minted on the Polygon network and priced at $99 each. This collection surpasses the previous sets which contained 45,000 and 47,000 NFTs respectively.
Trump’s Mugshot as Part of the Collection
The framing of the collection revolves around Trump being indicted in Georgia and having his mugshot taken in Atlanta. The photo has been used by Trump to sell merchandise and raise funds for his campaign. Now, it is incorporated into the branding of his latest NFTs.
Bundled Perks for Buyers
Similar to previous sets, buyers who purchase a large number of cards receive additional perks. One such perk is a physical trading card that includes a piece of the suit Trump wore in the mugshot. Purchasing 47 cards in one transaction makes you eligible for a physical card, while buying 100 cards at once and paying with cryptocurrency grants two physical cards and VIP tickets to a gala dinner at Trump’s Mar-a-Lago estate.
Trump’s Promotional Video
In a promotional video, Trump refers to himself as “your favorite president” and highlights the various perks of owning the NFTs. He acknowledges that the artwork exaggerates his physical features and describes the journey of his suit from mugshot to shredded collectible.
Will the Market Respond?
While Trump’s previous NFT collections sold out, it remains to be seen if fans will continue to invest in this new project. The second batch of NFTs had a negative impact on the secondary market value of the original cards, with prices plummeting by over 50%. Data shows that the cheapest listed Trump NFT from the original series has fallen by 18% today, while Series 2 cards have lost 34% of their value.
The Future of Trump’s NFTs
The latest NFT cards in the MugShot Edition collection are non-transferrable until December 31, giving creators time to gauge their value. So far, around 8,000 cards have been minted. It remains to be seen if they will sell out before the end of the year.
Hot Take: Trump’s Latest NFT Collection Faces Uncertain Market Response
Despite the success of his previous NFT collections, Donald Trump’s latest venture into the world of digital trading cards is met with lukewarm market response. While the collection boasts a record-breaking number of NFTs and includes unique perks for buyers, the secondary market value of previous Trump NFTs has experienced significant declines. With prices already dropping for the newest collection, it remains uncertain if fans will continue to invest in these NFTs. Only time will tell if Trump’s latest foray into the NFT market will prove successful or face a similar fate as its predecessors.
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