Former U.S. President Donald Trump’s second set of non-fungible tokens (NFT), Trump Digital Trading Cards Series 2, sold out within the first 24 hours since launch, according to the project’s website.
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Fast facts
- Trump’s second set of digital cards topped the global NFT sales over the past 24 hours, CryptoSlam’s data showed. It has generated over US$2.7 million in secondary sales since its launch on Tuesday and has 7,394 owners.
- The new NFT collection’s predecessor, Trump Digital Trading Cards Series 1, also sold out on the first day of launch in December 2022.
- Series 2 NFTs were sold for US$99 each on the Polygon blockchain. With 47,000 assets in the collection, the project is believed to have generated over US$4.65 million in revenue.
- Around US$2.6 million of the sales were conducted by wrapped Ether transactions, which suggests that the project has brought around US$2 million worth of new funds into the Polygon network, according to CryptoSlam.
- Forkast POL NFT Composite, an index measuring the NFT market activity on the Ethereum scaler, dropped 2.45% in the past 24 hours. The index fell sharply at around 3.5 hours since Trump announced the launch of his Series 2 NFTs.
- NFTs must be at least six months old to be included in the index, which is algorithmically designed to cover the top 100 smart contracts on a given day. The concurrent sales surge of the new NFT collection and a decline in the index indicates that some Polygon-based NFT traders have sold their holdings to purchase the new Trump NFTs.
- The launch of Trump Digital Trading Cards Series 2 on Tuesday led to a steep drop in the original collection’s floor price, or the minimum price of secondary sales.
- At NFT marketplace OpenSea, the new collection’s floor price dropped from 0.2 Ether (US$400), valued soon after launch on Tuesday, to 0.05 Ether less than 24 hours later.
- Trump’s recent financial disclosure revealed that he netted up to US$1 million in earnings from the first edition of his digital trading cards. Earlier this month, the former president pleaded not guilty to 34 felony criminal charges of falsifying business records.
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