•Donald Trump’s NFT collection, Trump Digital Trading Cards, has dropped 80% in value in the past 10 days, with the floor price now at 0.16 ETH.
•45,000 NFTs are owned by a total of 15,115 owners, which equates to a 34% unique owner rate.
•NFT International LLC is taking a 10% cut on each trade, which equates to over $1 million in revenue.
Donald Trump’s Non-Fungible Token (NFT) collection, Trump Digital Trading Cards, launched on December 15th, 2020 and has recently seen a sharp decline in its value. Over the past ten days, the floor price has dropped from 0.84 Ethereum (ETH) to 0.16 ETH, a decrease of over 80%.
The collection consists of 45,000 NFTs, each priced at $99 during the entry period, which translates to 0.083 ETH based on current ETH prices. The owner of the NFT line is NFT International LLC, which has made $4.45 million in revenue upon launch. NFT International LLC is taking a 10% cut on each trade, which equates to over $1 million in revenue. Currently, 45,000 NFTs are owned by 15,115 owners, which equates to a 34% unique owner rate.
Although the NFT collection was met with excitement upon launch, it has recently faced heavy criticism, largely due to internal minting, licensing errors, and alleged design plagiarism. This has corresponded with the sharp decline in the NFT’s value, as the floor price dropped from 0.84 ETH to 0.16 ETH in a 10-day span.
It remains to be seen how the NFT collection will fare in the coming weeks and months, as the sharp decline in value is concerning for any investor. However, it is possible that the collection could rebound and regain some of its lost value, which is why many investors are still holding onto their tokens.