Donald Trump’s NFT Trading Card Collection Witnesses Massive Resurgence In Daily Sales Volume
Reports said that former United States President Donald Trump’s nonfungible token (NFT) trading card collection has recently witnessed a massive resurgence in daily sales volume.
It has been reported that some pundits believe the renewed interest could be due to his imminent return to social media networks, following reports that the former president was seeking to rejoin Facebook and Twitter ahead of the 2024 presidential election campaign.
However, the collection of 45,000 self-themed trading cards was launched on December 15 and initially priced at $99 each. Buyers of the collection were automatically entered into a sweepstake which included “1000s of prizes,” including one-on-one dinners, zoom calls and rounds of golf with the former President.
The report said that they quickly sold out and recorded daily sales volumes of over $3.5 million but plummeted to a baseline of around $26,000 by the end of 2022. Bored Ape Yacht Club (BAYC) creator Yuga Labs has blocked secondary trading of its “Sewer Pass” NFTs on marketplaces that do not fully support creator royalties.
Likewise, the NFT project was first announced on Jan. 12 and became available for minting on January 17. Only Bored Ape Yacht Club or Mutant Ape Yacht Club holders are able to mint the Sewer Pass, which acts as an entry pass to its new skill-based NFT game, called Dookey Dash.
A royalty is a fee that is taken from the price of a sale and sent to the content creator. Yuga Labs has been vocal about its opposition to broader shifts within the industry to royalty-free marketplaces.
Thus, the Sewer Pass has seen a high volume of trades on secondary marketplaces, with a floor price of 1.81 ETH ($2,809) and sales volumes of 15,627 ETH ($24,267,411), according to data from NFT Price Floor.