On April 18th, Donald Trump, the 45th former US president, revealed his second NFT collection, following the notable success of the first series. While the announcement was met with enthusiasm from Trump’s supporters, some NFT collectors have expressed concerns over the impact on the market.
Trump’s New NFT Collection: Details and Pricing
In a post on his social media platform, Truth Social, Trump stated that the new collection comprises 47,000 tokens. That is 2,000 more than the initial series, and everything will be minted on the Polygon network. However, the selling price remains consistent with the first collection at $99 per token.
Trump highlighted that he could have increased the price of the new NFTs due to rising market demand but chose not to, stating that he wants his fans and supporters to profit and “have fun doing it.”
Despite Trump’s intentions, owners of the original NFTs may not be enjoying themselves as much as anticipated. The release of the second collection caused a significant drop in the floor price of the tokens. Data from Coingecko shows that the cheapest Trump NFT’s value plummeted from 0.4 ETH to approximately 0.1 ETH following the announcement.
Trump’s Motivations: Financial Gain or Political Strategy?
Given Donald Trump’s estimated net worth of over $2.5 billion, as reported by Forbes, it’s clear that the former president doesn’t require NFT sales or luxurious dinners with collectors to boost his finances. Consequently, speculation has arisen that Trump’s true objective may be to maintain social media relevance in preparation for a potential presidential campaign.
Supporters of this theory point to the additional 2,000 tokens in the new collection, which emphasize the number “47”—a reference to the position of the next US president.
Revenue from First Donald Trump NFT Collection
The initial NFT collection, launched on December 15th, generated approximately $1 million in sales for Trump. Priced at $99 per NFT, the collection featured 45,000 unique tokens, each depicting various aspects of his life and presidential career. The NFTs also allowed collectors to win autographed memorabilia and dinners with the former president.
However, it remains uncertain whether the project managers and Trump himself have fulfilled these promises, as no reports have surfaced about winners enjoying luxurious dining experiences.
The Future of Trump’s NFT Endeavors
As the US presidential elections draw closer and rumors about Trump’s potential candidacy intensify, it’s evident that his fan base continues to grow.
Moreover, supporters are willing to invest hundreds of dollars for a piece of his digital life, further fueling speculation about the true purpose behind his NFT ventures.
Whether Trump’s NFT collections serve as a strategic move to stay relevant in the public eye or merely a moneymaking scheme remains to be seen. What’s undeniable is that these digital tokens have generated considerable buzz in the crypto market and captured the attention of both supporters and critics alike.
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