When he released them in mid-December, one-term, twice-impeached former president Donald Trump’s digital trading cards sold out in a single day for $99 each, netting the failed ex-president $4.4 million. Not bad for a so-called “investment” that actually carries no real value whatsoever.
As Forbes noted at the time:
Former President Donald Trump’s line of digital trading cards sold out in a day, netting millions despite the massive ongoing slump in nonfungible tokens and cryptocurrency and a fair bit of mocking from some of his allies.
Sounds like a major success for the “great businessman,” right?
But as it turns out with nearly everything that carries the now tainted Trump name, those cards have lost 78% of their value in a week’s time.
Finbold.com reports the bottom has indeed fallen out of the Trump trading card market, meaning lots of the owners how have almost worthless holdings that are likely to be worth nothing in the near future.
Former U.S. President Donald Trump’s non-fungible token (NFT) collection, known as Trump Digital Trading Cards, are currently owned by a total of 15,075 owners, which equates to a 34% unique owner rate.
Many of the cards were resold after the first run, driving up their value to a high of 0.82 ether, or $999. In the last week, the volume is 380 ETH down (-95%), sales are 1,564 (-93%), and the floor price is down -11%, however, in total each card has still gained significant value since they were first sold.
Much like other digital assets such as cryptocurrencies, the market seems to be in complete freefall, with owners trying to dump them as quickly as possible.
A few days after its release, the floor price began to drop in tandem with widespread criticism of the NFT line for issues including internal minting, licensing errors, and claimed design copying. It is worth reminding that Trump wasn’t always this open to the cryptocurrency sector, the former president referred to Bitcoin (BTC) as a ‘scam,’ stating that he didn’t like it “because it’s another currency competing against the dollar.”
The biggest scam of all, of course, is believing anything Donald Trump says.