Trump NFT Mania is getting a very short run as sales almost disappear

It’s been less than a month since Donald Trump official NFT collector card I started with a mostly puzzled responseEven from his followers, and the ensuing uproar was Big, but short-lived. Now the NFT trading card project has fallen to new lows as the demand for trading continues to disappear.

Secondary market trading volume of the Trump Digital Trading Cards project hit a fresh daily low of just over $21,000 on Sunday, according to data from cryptoslam. The largest single-day project gross so far in 2023 is $33,000 just on January 5th.

Sunday’s figure represents a more than 99% drop in daily volume from the peak day of Dec. 17, when more than $3.5 million in NFTs were traded shortly after the initial sale. There were over 2,000 unique buyers on that date last month, and over 3,300 unique buyers on Dec. 16 when prices started to rise.

But on Sunday, when sale volume hit a new daily low, CryptoSlam reported only 28 unique buyers out of a total of 98 transactions. Likewise, prices have fallen sharply since their peak. The lowest price, or the cost of the cheapest NFT listed on the market fell from High around 0.84 ETH ($995) On December 17 to Only 0.16 ETH ($215) Today.

That’s still more than double the coin’s original price of $99, which is a potential profit for users who purchased one of the digital cards during the base sale. However, stock holders who bought in the secondary market at or near the peak of the noise can You find lower resale demand For the digital collectibles of the disgraced ex-president.

The NFT collection spans over 45,000 digital cards that show the one-time Commander in stunning costumes, dressed as an astronaut, cowboy or superhero. Holdings sealed ribbedOne Ethereum side chainIt offered the first buyers Chance to win benefits Like dinner or a chance meet-and-greet with Trump.

The project 44,000 NFTs sold within 24 hours, generating over $4 million in initial sales, with the other 1,000 holdings held by the creators. Since then, Trump NFT has made more than $10 million in secondary market deals, with the Utah-based company behind the fund slashing 10% of all sales on markets that charge a resale fee.

NFT members have been widely mocked on social media and on late night TV shows, including on “Saturday Night Live” It rapidly increased in value and commercial activity.

But as the latest sales data shows, the initial rally quickly gave way to apathy among traders who might have done so. bought in “lolz” Just a few weeks ago. Even Crypto Twitter hardly cares about them anymore, moving on Solanas Dog-themed BONK icon and others Cut the so-called “dough”.

To be fair, it’s very common for a notable NFT pool to skyrocket in value and trading demand right after launch, and then see that momentum fall off a cliff. For example, it happened with Art Gobblers – one The controversial Ethereum project Which first appeared at the end of October and increased rapidly. On Sunday, I got a lower turnover from Project Trump, per CryptoSlam, worth just over $16,000 in five transactions.

It is very rare for an NFT project to sustain hype for an extended period of time or to peak after the first mint, as we have seen with industry leaders. Monkey Yacht Club Boredom, For example. So far, Trump’s NFT pool doesn’t seem to buck the trend: it’s just the 96th best-selling project in the last 24 hours, as ranked by CryptoSlam.

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