On Tuesday, the former president unveiled his second series of Trump Trading Cards. However, it seems that the excitement surrounding his foray into Web3 is waning.
Former U.S. President Donald Trump’s second series of non-fungible tokens (NFT) sold out early Wednesday morning, a day after their release to the public.
The new collection includes 47,000 tokens that cost $99 each, as well as limited edition NFTs and inscribed trading cards.
Traders who purchased 47 tokens would be eligible for a dinner with Trump at his Mar-a-Lago estate in Florida, while those who purchased 100 tokens would not only receive the dinner but also a collectible with new rarity characteristics.
The art in the second collection is very similar to that of Trump’s NFT debut in December, which also sold out in one day.
The first collection was a surprise hit, and its floor price went up quickly in the 24 hours after the sale. Prices on OpenSea, a secondary market, reached 0.19 ether (ETH), or about $230, which was more than double the original price. The day after the sale, the number of trades went up to 900 ETH, or $1.08 million.
According to recent filings, Trump earned between $500,000 and $1,000,000 from the NFT initiative via a licensing agreement he signed with the collection’s creator.
This time around, however, the secondary market for Trump Trading Cards has subsided.
According to OpenSea, the floor price of the second series is approximately 0.053 ETH, or approximately $108 – just a few dollars more than the token’s initial mint price. Its trading volume is 774 ETH, or approximately $1.5 million (the price of ether in December was approximately 40% lower than it is now).
Even though the price of ETH is currently around $2,000, investors and users are already worried that the returns on the second collection will be smaller. The first collection had more chances to win real-life events like a Zoom call with Trump himself, a dinner in Miami, or a cocktail hour at Mar-a-Lago. It also had more sweepstakes.
Reactions on twitter to Trump’s NFT collection
Not long after the second set of Trump Digital Trading Cards came out, people on Twitter made fun of the “cringy” artwork, which was even stranger than the first series.
While many of the tokens appear in the same style as the first collection, with artwork of the former president in various outfits and backgrounds, the new tokens depict Trump engaging in activities such as playing guitar at a concert, hosting a barbecue, serving as a “king” chess piece, and wrangling a lion.
“It’s Trump’s attempt to paint himself as the ‘alpha male’ he always wanted to be,” said independent journalist Ed Krassenstein on Twitter.
just after the second collection came out, Trump complained about the $99 price of the mint collection. He said he “could have raised the price much higher” and said he “will be given no ‘nice guy’ credit,” in doing so.
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