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Sales of Trump NFTs skyrocket after impeachment news
The New York attorney general pumped some NFT holders’ pockets last week by indicting former President Donald Trump. After the indictment was announced, the volume of the Trump Digital Trading Cards NFT collection increased by over 400%. What happened to cause this pump?
Image credit: ABC7 New York
Why did Trump pump the NFTs after the indictment?
Trump Digital Trading Cards are an unusual collection. When something good happens to Donald Trump, the floor price rises. When something bad happens to Donald Trump, the floor price rises. It therefore came as no surprise that the floor price went up 43% from 0.41 eth to 0.59 eth in the days following the indictment.
There’s an old cliché that says, “there’s no such thing as bad publicity.” The 45th president exemplifies this adage better than anyone. The fundraising floor appears to mostly parallel public interest in Trump, even if the heightened interest comes from seemingly negative events.
What is the Trump NFT Collection?
Trump Digital Trading Cards is a 45,000 piece NFT collection that launched in December 2022 at Polygon. Each NFT features the former president in various masculine poses, some include him dressed as a superhero, others have him wearing boxing gloves, and all feature MAGA-themed patriotic imagery. Trump himself announced the project with a brief television appearance last year, in which he presented the project’s sales pitch and called himself the greatest president ever, saying he was “better than Lincoln, better than Washington.”
The project’s description reads: “Are you ready to make history? For the first time ever, collect your own official Trump Digital Trading Cards of President Trump. Incredible, hand-drawn art, inspired by President Trump’s extraordinary life and career.”
Image credit: OpenSea
To be fair, Donald Trump has led an extraordinary life. Not only is he the first president to have his own NFT collection, but he is also the first president to be indicted on criminal charges. Even if he is found guilty, the Trump Digital Trading Cards collection seems like one of the safer bets in NFTs.
