“I spent $99 on a bunch of crap,” wrote one tweeter recommending buying these mocked NFTs for sale. Donald Trump’s Polygon NFT collection sold out in less than a day, and the second sale is currently leading the NFT market. The service was widely criticized on Thursday, but some consumers seem to have bought it as a joke.
Despite mockery and unprecedented reviews, US President Donald Trump’s first NFT collection sold out in less than a day. Currently, digital trading cards on the second market chart, and at least some sales from NFT traders bought as games.
Trump’s collection of 45,000 NFT issued on the Ethereum Polygon scaling network has completely stopped this morning, causing the second market to rise as the price rises. Currently, the cheapest Trump NFT listed on the main OpenSea exchange starts at around 0.15 ETH, or almost $180, but it was higher early this morning.
The original NFTs were sold for $99 each. In the last 24 hours, there was no collection that increased the market in the secondary market, as OpenSea shows 1,204 ETH, or about $ 1.44, in the market. The Bored Ape Yacht Club is second with 427 ETH, or around $511,000, in the NFT market.
Trump and NFT
Trump’s launch of NFTs on Thursday – following the former president’s outrageous promise of ‘big announcements’ – was derided by NFT enthusiasts and haters as a money grab, and a scam at best new. by whom his transactions (and cases) of fraud are often investigated. Even Trump supporters protested the project. Still, the NFT Trump collection sold out in less than a day, bringing in more than $4 million in initial funding, and now the secondary market is increasing.
In some cases, supporters may be famous Trump lured his supporters or the promise of benefits that can be obtained, including meeting on the green and tickets to the Trump gala. But in some cases, it seems NFT enthusiasts bought because they thought it was funny or funny, as evidenced by tweets suggesting they bought Trump NFT “for lulz”, “for memes” or “for culture”. “Others wrote that buying and trading Trump NFTs is a “degen” game for jaded traders.
“I spent $99 in a wasteful way,” wrote one Twitter user. “I don’t win for dinner, [good].”
Not all buyers will get “dinner” with the former president, but at least until now there is an opportunity to profit from the conversion. We will see, however, if the “lulz” is strong enough to support the second market over the first hype. According to data from CryptoSlam, the most traded Trump NFT to date was 6 ETH, or around $7,400 at that time on Thursday night.
The NFT contains a digital portrait of Trump, which represents only 0.16% of the NFT. With its royalties, the Utah company behind Trump NFTs takes 10% off every second sale in markets (like OpenSea) that respects creators’ rights. This is a higher rate than most large NFT services with thousands of assets, which typically charge rates between 2.5% and 5%.