Trump NFT hit the big time in the NFT aftermarket. If you thought that $99 was an absurd amount for the “cards,” many that seem to be in copyright violation, imagine paying $680? The average price peaked on Saturday, December 17 with over $3.5 million worth of trading volume, per data from CryptoSlam.
Since then, the project has racked up over $8.7 million worth of secondary trades.
Momentum peaked over the weekend, with the floor price—or cheapest listed NFT—hitting 0.84 ETH (about $990) on Saturday. Prices rose and fell in a volatile market ahead of the NFTs being skewered on NBC’s late-night comedy show, Saturday Night Live. Just three days later, the floor price has fallen 74% when measured in USD.
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Cooler heads have prevailed and the current price has receded to an average of a mere $344 with $393,000 in trades on 12/20 (if I am reading the chart correctly). Does it make you kinda sorry that you missed out on the action?
I can draw no other conclusion that Trump, as incredible as it seems, is hurting for money. Just a few years ago, his entire brand was based on “class.” Whether it was one of his many business ventures such as Trump steaks, Trump Vodka, the expensive and classy hotels like the Trump Old Post Office in D.C. or his golden toilets, it was all meant to give the image of gilded quality for the privileged elite. While he may have brought in a few million (maybe like $4mm) for the cards, he has entirely trashed his brand — at least among the people who still have bought into it. It’snow a commodity for the hoi polloi. We shall see what his tax returns say about his true financial state of affairs.