Original Trump NFT collection trading volume plunges 99% in past 30 days ahead of criminal trial
Quick Take
- First edition of Trump Digital Trading Card NFTs have experienced a massive slump in sales activity, with trading volumes plunging by 99% during the last 30 days on the OpenSea marketplace.
- Overall, including trading on other marketplaces, trading volume for Trump’s first batch of NFTs is down by more than 80%.
While former U.S. President Donald Trump appears to have warmed to crypto and bitcoin since the billionaire entrepreneur dropped his first edition of digital trading card NFTs in late 2022, interest in that original collection has certainly cooled.
Trading volume for the initial collection of 45,000 NFTs featuring glorified, cartoonish images of the 45th president has plummeted by 99% in the past 30 days on the OpenSea NFT marketplace. There also hasn't been single transaction for the collection on the exchange for the NFTs in the past week, according OpenSea data.
OpenSea data indicate that the collection has generated more than $50 million in total trading volume since dropping in December 2022.
Meanwhile, while overall NFT trading volumes are subdued when compared to the bull run of 2021, activity has been relatively stable in recent months in terms of buying and selling, according to The Block Data Dashboard. Sales volumes for NFTs on Ethereum — historically the most popular blockchain for non-fungible tokens in terms of trading activity in U.S. dollars — hit $489 million in March, according to CryptoSlam! data.
Thinning interest in Trump NFTs comes as the real estate tycoon, running again for president this year, gets set to begin his criminal trial for allegedly falsifying business records to conceal hush money payments.
The second series collection of Trump's digital trading has fared relatively better than the first edition on OpenSea, albeit with trading volumes declining by 57% in the past 30 days, according to marketplace's data. In a recent drop of another collection, collectors were given the chance to win a dinner invitation to eat with Trump at Mar-a-Lago. The gala dinner is scheduled for May 8, according to a recent post to X.
Some trading of Trump's first NFT collection occurs outside OpenSea on the rival exchange Magic Eden. According to CryptoSlam! data, overall trading volume has declined by more than 80% during the past 30 days for the former president's first NFT drop.
Company managing NFT drops
The NFT drops and promotions have been managed by NFT INT LLC which, according to the according to the website for the former president's digital trading cards, "is not owned, managed or controlled by Donald J. Trump, The Trump Organization, CIC Digital LLC or any of their respective principals or affiliates."
NFT INT LLC didn't immediately respond to a request for comment.
The website also states: "NFT INT LLC uses Donald J. Trump's name, likeness and image under paid license from CIC Digital LLC, which license may be terminated or revoked according to its terms."
Trump, however, has previously been listed as CIC Digital LLC's manager, president, secretary and treasurer, according to information published by the Citizens for Responsibility and Ethics in Washington.
The NFTs based on Trump's likeness are minted on Polygon.
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