NFTs
Is Donald Trump’s fourth NFT collection doomed to fail?
The market seems to have spoken. The cryptocurrency market is bullish Donald Trump. Following his assassination attempt last weekend, the former president saw his approval rating jump to 67 percent in Predict.
Clearly not a fan of the Republican presidential candidate, 20-year-old Thomas Matthew Crooks took matters into his own hands and attempted to remove Trump from the presidential race.
However, the now-deceased Crooks failed to resurrect the presidential candidate and instead cut off Trump’s ear and killed two innocent bystanders.
The news of the assassination attempt only strengthened Trump’s chances of victory in November and, consequently, boosted the cryptocurrency market, including Bitcoin.
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Riding this wave, Trump said Bloomberg that he is now looking to launch a 4th NFT collection. “I’ve done things like NFTs and, you know, that kind of thing. And I noticed that 80% of the money was paid in crypto,” he said.
“It was amazing. So NFTs are, you know, I did the—very successful. We had a year to sell it and it sold out in one day. The whole thing sold out: 45,000 of the cards. And I did that three times. [and] I’m going to make another one, because people want me to make another one.”
But is Trump’s cryptocurrency popularity enough to ensure the success of his fourth NFT collection?
On December 15, 2022, former President Trump released the Trump Digital Trading Cards collection of 45,000 NFTs. Priced at $99, the collection sold in less than a day, generating $4.4 million in sales.
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As of the latest update, the minimum price for these cards is 0.12962 ETH, which is approximately $454 USD based on current exchange rates. This represents a substantial 358% increase from the initial purchase price of $99, excluding transaction fees.
On April 18, 2023, Donald Trump unveiled Series 2 of his Trump Digital Trading Cards NFT collection, featuring a total of 47,000 unique cards. Each card in this collection can have a maximum of 10 copies minted. Like the Series 1 Collection, the cost to mint each card is set at $99.
At the time of writing, the minimum price for these cards is $134. This represents a 35% increase from the initial minting cost of $99, excluding transaction fees.
On December 12, 2023, Donald Trump released the third release of his Trump Digital Trading Cards, titled “The MugShot Edition”, priced at $99 each. This collection features 47 portraits commemorating Donald J. Trump’s career, notably after his arrest and mugshot.
Currently, the current minimum price for these cards is $245. This represents a notable 147% increase from the initial price of $99, excluding transaction fees.
Donald Trump’s upcoming NFT collection is set to build on the success of previous releases. While specific details like the exact number of cards and the price tag of around $99 per card are unconfirmed, the collection is expected to have a limited supply, potentially following a similar model to previous releases.
The theme of the set, possibly tied to Trump’s presidency as the 47th president, suggests a symbolic approach to the number of cards available. Additionally, the potential inclusion of exclusive perks, such as opportunities to meet Trump at Mar-a-Lago or have dinner with him, adds considerable allure to the cards.
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Recent events, including increased media attention following a notable incident, have heightened interest in Trump-related memorabilia and collectibles. This renewed attention could contribute to a strong market reception for the upcoming collection, presenting an opportunity for early entrants to potentially benefit from its anticipated popularity and appreciation in value.