Former President Donald Trump NFT Sales Increase After Arrest
The arrest of former US President Donald Trump in Manhattan caused a stir on Tuesday. The criminal case against him appears to have raised his notoriety as sales of Trump’s non-fungible token (NFT) “trading cards” as sales soared 200% since his arrest.
Donald Trump has become the first president, former or sitting, ever to face criminal charges in New York. Curiously, his arrest has sparked a rally in the price floor of Trump Digital Trading Card NFTs.
Trump NFT sales spike
The Digital Trading Cards collection has seen a 220% increase in trading volume in the last 24 hours. Sales of around $75,000 worth of Trump NFTs were made in one day, according to CryptoSlam data.
Meanwhile, the number of sales transactions increased by more than 190% within the same time frame.
As a result of the increase in sales volume, the floor price of the collection showed a similar trend. The price of the cheapest listed NFT in the group after a 4.3% increase is 0.47 ETH. This equates to $908 in current prices. Meanwhile, the market cap of the NFTs also increased by 7% to 21,150 ETH.
The collection of 45,000 cards minted on Polygon and Ethereum, released last December for $99 each, quickly sold out. The purchase of these cards also reportedly enters the buyer into a contest to win other prizes, including a one-on-one meeting with the former president, a round of golf and a cocktail hour at the Mar-a-Lago Club.
Details of the case
Donald Trump pleaded not guilty Tuesday to 34 felony counts of falsifying business records related to his alleged role in hush money payments toward the end of the 2016 presidential campaign.
During the 2016 US presidential campaign, it was alleged that Donald Trump had an extramarital affair with adult film actress Stephanie Clifford, also known as Stormy Daniels. In the run-up to the election, Trump’s lawyer Michael Cohen arranged to pay Daniels $130,000 in exchange for her signing a non-disclosure agreement (NDA) that would prevent her from discussing the matter publicly.
In 2018, Cohen pleaded guilty to several charges, including making an excessive campaign contribution with the hush money to Daniels. Cohen claimed he had made the payment at the direction of then-candidate Trump, who was aware of the amount and had authorized it.
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