Trump’s NFT collection seems unstable over the weekend
Donald Trump’s NFT collection, announced for release recently, is going through a rough swing during the weekend – December 18, 2022 and December 19, 2022. According to data shared by OpenSea, the price of the NFT collection reached a peak of 0.839 ETH before it fell to 0.295 ETH over the weekend. Another reward is a ticket to a gala dinner with Donald Trump for the user who obtains 45 non-fungible tokens. Trump’s NFT collection had entered the market at a starting price of $99 per card with more rewards waiting to be claimed. NBC’s “Saturday Night Live” saw Trump and the gathering get spoofed.
Initially, the collection became a hit by selling out hours after its release. The floor price showed no signs of regaining the stability expected. The NFT market, or crypto market, has been on a wild ride for a long time. Volatility leaves a lasting impression. Furthermore, this is evident from the price of BTC, which is currently running on a graph of $16,761.40. ETH follows the same path to $1,184.97. These values are true at the time of writing this article.
The NFT market is no different, as volatility has played hide and seek with it. Back to Trump’s NFT collection, according to a set of data shared by OpenSea, trading volume has registered a mark of 5,824 ETH with total sales of 21,479.
The top selling NFT went to one user for 37 ETH, equivalent to about $41,000. It shows Donald Trump in a tuxedo standing in front of a staircase with a black and white color texture. Other pieces of NFT in the collection show similar sentiments, a hit with those who love the former president of the United States. It is the first NFT collection of Donald Trump to hit the market. It has benefits that are sure to reward users who invest a good portion of their fortune in digital collectibles. For example, one might consider going for a chance to interact with Trump personally in the form of a one-on-one meeting.
Digital cards brought by Donald Trump are part of a limited edition collection. It has been stated on a couple of occasions that an NFT is akin to a baseball card, except that Trump’s NFT collection turns out to be more flashy and exciting.
There is speculation that endorsements like these negatively affect the price of a single collection and the entire NFT market. The crypto market gets dragged along because it is part of the same ecosystem. As a result of price swings and volatility, several brands and public figures have begun shedding their NFT collection.
Fluctuations over the weekend are expected to be part of what the entire digital industry is going through, with no other negative effect.
