Trump NFT Floor Price Increases on Indictment News
The world of non-fungible tokens (NFTs) has been a hot topic in recent months, with an increasing number of investors looking to cash in on these unique digital assets. One of the latest developments in this area involves the Trump Digital Trading Cards NFT project, which has seen an increase in the floor price following the news of former President Donald Trump’s impeachment.
According to OpenSea data, the floor price of the officially licensed Trump Digital Trading Cards NFT project rose from 0.46 ETH (or $835 at current prices) to as high as 0.6 ETH ($1,090) on March 30, the same day as a New York Grand Jury voted to indict the former president. However, the floor price has since fallen back to around the 0.51 ETH range, which is still significantly higher than the initial coin price of $99 when the project launched in December 2022.
The Trump Digital Trading Cards NFT project offered exclusive one-on-one experiences to certain NFT holders when it launched, including private golf sessions, dinners and conversations with Trump. However, the latest news about his indictment could potentially affect his ability to deliver on those experiences.
The increase in the Trump NFT floor price is just one example of the growing popularity of NFTs. According to a March 30 report from blockchain analytics platform DappRadar, there was $4.7 billion worth of NFT trading volume in Q1 2023, more than double the previous quarter. The report pointed to bullish action from the Blur marketplace, which took the market by storm during its token airdrop breeding period in February.
The report also showed that there were 19.4 million NFT sales in Q1, which marked an increase of 8.56%, with a 147% increase in total volume compared to the $1.9 billion posted in 4 .quarter of 2022. The Ethereum network accounted for a whopping $4.1 billion. volume, with second-place Solana contributing $242 million, while Polygon came in third with $85 million for the quarter.
Another recent development in the NFT space involves Japanese gaming giant Square Enix, which has released NFT trading cards to celebrate the 25th anniversary of Final Fantasy VII. The Final Fantasy VII Anniversary Art Museum Digital Card Plus Collection contains five physical cards and a sixth digital NFT card. Despite being called trading cards, Square Enix stated on its website that the NFTs could not be traded or transferred at this stage unless the company decides to build a marketplace in the future.
Dropping on March 31st, the packs cost around $3.30 a pop, with the card artwork depicting various characters and scenes from the iconic Final Fantasy VII game. While it’s unclear whether the firm intends to build a marketplace to support its digital collectibles, Square Enix has been gradually increasing its NFT and blockchain game-related initiatives over the past few years, suggesting something may be afoot.
