Trump’s Surprise Second NFT Collection Causes Market Stir
Fast Facts:
- Trump released a second NFT collection, minting 47,000 NFTs on the Layer 2 blockchain Polygon.
- The new series sold out within hours, with each NFT priced at $99.
- Holders with 47 cards or more would gain access to a Gala Dinner with the former President in South Florida.
- The surprise release doubled the supply of Trump NFTs, leading to a 75% drop in the floor price of the original collection.
- Trump defended the pricing, wanting his fans and supporters to make money and have fun, but some holders learned a risky lesson about NFT investments.
In the ever-evolving world of cryptocurrency and NFTs, former President Donald Trump has once again made headlines with the surprise launch of his Series 2 Trump Digital Trading Cards. The controversial billionaire and ex-President took the social media world by storm with this unexpected move, causing a frenzy among collectors and investors. As the dust settles, let’s delve into the details of this intriguing development.
The Trump NFT Frenzy
The new collection made its grand entrance on the Layer 2 blockchain Polygon, and just like its predecessor, it didn’t take long for the NFTs to fly off the virtual shelves. Buyers eagerly snatched up all 47,000 minted NFTs within a matter of hours, willing to pay $99 for the chance to own a digital piece of Trump’s legacy and “celebrate the life and career of President Donald Trump.” But it wasn’t just the allure of owning a piece of history that had collectors excited; Trump sweetened the deal by offering utility with the cards based on the number purchased. Holders possessing 47 cards or more were promised a chance to attend an exclusive Gala Dinner hosted somewhere in the sun-kissed region of South Florida, leaving everyone curious about the upcoming event.
“It’s a rollercoaster ride with Trump’s NFTs, love him or hate him, you can’t deny the excitement he brings!
Controversy and Lessons Learned
Despite the initial excitement, the surprise release also drew its fair share of criticism. By doubling the supply of Trump NFTs, the project’s team inadvertently triggered a 75% plummet in the value of the original collection within hours of the announcement. While some may have anticipated this volatile market reaction, others felt blindsided and disheartened. Yet, in typical Trump fashion, the former President remained unbothered, highlighting his decision to keep the NFT prices consistent, thus allowing his supporters to benefit from the surging demand and resale prices. However, this move also underscored the risky nature of NFT investments, reminding collectors that projects prioritize profit over their community’s well-being. As the Trump NFT saga continues, it serves as a valuable lesson for both seasoned and novice crypto enthusiasts alike.
