Former President Donald Trump’s NFT collection is having a moment after he became the first former U.S. president to be criminally indicted.
The 45,000-piece collection of stiff-looking Trumps in a variety of poses and costumes - like the one shown - have seen a 445% increase in sales, about $186,000, according to CryptoSlam. For those not versed in the weird world of NFTs, it stands for 'non-fungible token'. Non-fungible means that something is unique and can't be replaced. By contrast, physical money and cryptocurrencies are fungible, which means they can be traded or exchanged for one another.
The huge jump in sales of Trump NFTs is particularly notable because March was one of the slowest for the collection as trading volume, prior to the indictment, had fallen by half compared to the previous month. Maybe he needs to release an NFT of him wearing handcuffs for the market to really explode?
Earlier this year, the NFT collection recorded just over $22,000 in sales during a 24-hour period - a stark decline from the $4.5 million the project brought in when it launched in December. During the original sale, the NFTs sold for $99 each and were promoted by Trump in a video on his Twitter-alternative Truth Social.
While the spike in Trump NFT prices suggest merchandise and collectibles tied to the former President are getting a boost from the indictment, another person at the center of his indictment, porn star Stormy Daniels, has also seen some money come her way.
“#TeamStormy merch [and] autograph orders are pouring in,” Daniels said in a tweet, as people rushed to support the woman who Trump allegedly paid $130,000 to stay silent about an affair.
Trump Never Arrested as President but Grant was: Whilst Donald Trump holds the unedifying distinction of being the first president to be impeached twice - and has a tsunami of legal woes coming his way - he was never arrested as a serving commander in chief. That distinction goes to Ulysses S. Grant...
Comments