Donald Trump’s popular NFT collection Loses Value Rapidly In One week.
Approximately 0.16 ETH is the starting price for the former president Donald Trump’s NFT holdings.
Newsweek said that in just one week, the value of former US President Donald Trump’s digital trading cards dropped by 72%. OpenSea Marketplace, which tracks card sales, analyzed non-fungible tokens (NFTs). Trump’s digital collectibles sold out in one day on December 15. The NFT creators received $4.5 million despite online ridicule.
45,000 $99 cards were available. The former president promoted these NFTs, increasing sales.
OpenSea claims that the resale of these cards after their initial release drove their value to a peak of $999 on December 17.
However, as Newsweek reported, these cards have dropped significantly over the past week, to $280 as of December 24.
OpenSea reported that daily card trades dropped from 6,661 on December 17 to 529 on December 22 and 260 on December 23.
NFTs are collected as virtual art and created using cryptocurrency programming. NFTs are blockchain-based.
The digital cards featured Trump as a superhero, astronaut, sheriff, and NASCAR driver.