With the release of his digital trading cards in December, former U.S. President Donald Trump captured the interest of the NFT market, but the buzz was short-lived, and sales have since crashed. The demand for the NFT passes linked to associated benefits is currently just average, with tokenized tickets for a group Zoom call with Trump going for less than $25 each.
Trump’s digital NFT cards offered customers the chance to purchase one of the many possible Trump-related perks, such as dinner or a face-to-face meeting with the disgraced politician, private and group Zoom conversations, and more.
Starting last month, NFT card buyers received airdropped NFT access permits, which, like the trade cards, were printed on the Ethereum sidechain network Polygon. As of this morning, some NFT perk passes were given to card buyers as part of the ongoing rollout, according to open blockchain data compiled by the OpenSea marketplace.
While some of those NFTs are being sold to other users fast, their prices are not as high as they were when the first NFT cards were first introduced. According to statistics from OpenSea, NFT credentials for a group Zoom video chat with Trump are the most popular items being sold; some of them have changed hands for less than $25 in ETH in the last day.
Each Zoom session, according to the NFT description, will have a maximum of 2,000 participants and continue for 20 minutes. Participants may submit questions before to the call, but there is no assurance that they will even be acknowledged, much less addressed.
The Win Trump Prizes NFT collection has only generated 35 ETH (or roughly $48,500 today) in trade activity on secondary markets, with the listed goods starting at just 0.0174 ETH ($24) each. This collection is from the same developer as the original Trump NFT collections.
The greatest documented sale to date was 5 ETH (almost $6,900) for a redemption ticket for a Trump NFT trading card that was digitally autographed on December 21. On January 3, a Trump meet-and-greet pass was sold for 2 ETH (nearly $2,800).
One ticket for a one-on-one Zoom meeting with Trump is presently posted for 200 ETH ($277,000) on OpenSea, while a gala dinner ticket NFT is available for 50 ETH (nearly $69,000). This shows that some NFT holders are at least attempting to make substantial sales of their perk tickets. This does not imply that the vendors will receive their asking prices or even close to them for these NFTs.
A blockchain token called an NFT is used to signify ownership of special goods like digital treasures and works of art. NFTs can be used as a pass to enter or a ticket to redeem for both digital and physical activities.
The release of Trump’s NFT trading cards on December 15 drew primarily disparaging comments on Crypto Twitter and even rebuke from some of his ardent followers. Even so, the project sold through 44,000 Polygon NFTs for $99 each in less than 24 hours (the project’s designers held aside another 1,000 NFTs), and after that, secondary market sales took up.
After the collection produced millions of dollars’ worth of secondary sales within the first few days alone and the excitement drove prices to many times that of the initial asking price, even late-night comedy shows like “Saturday Night Live” joined the Trump NFT craze.
However, the hype surge was brief, and since then, the amount of secondary transactions as well as NFT prices have declined precipitously. According to data from CryptoSlam, the project established a new day low sales total on Sunday of just over $21,000, which is down more than 99% from the high day of more over $3.5 million in sales on December 17.