After Manhattan Indictment, Trump’s NFT Trading Cards See Sharp Rise in Value – Here’s Why
With the announcement that a grand jury in Manhattan decided to indict Donald Trump, the 45th President of the United States, the cost of digital trading cards associated with him has increased.
The floor price of Trump’s NFTs is presently set at 0.499 ETH, or over $900 at the current exchange rate, according to NFT data aggregator NFTPriceFloor. In contrast, the cards’ initial price was $99 and it was reduced to as little as 0.02 ETH (about $35) in late December of the previous year.
The trade volume for the NFT collection has increased as well. The trade volume of the former president’s digital cards increased to 87 ETH (about $160,000) on March 31, one day after he was charged. The previous day, it had been 34 ETH.
Trump’s NFTs sold on average 0.4555 ETH, or about $800, down more than 16% over the previous day. According to the website, the largest selling increased by 23% during the same period to 0.9298 ETH, or almost $1,700.
According to reports, the former president published its set of NFTs known as “Trump Cards” in December of the previous year.
The NFT collection includes a number of digital “cards” with images of Trump in well-known scenarios and stances, such as Trump clutching a basketball, Trump in space, and Trump as a chiselled wrestling champion.
At the time, he declared that the $99 (£81) per cards, which included magnificent Pictures of his life and career, “would be a terrific Christmas gift.”
The Polygon layer-two scaling technology, which works in tandem with the Ethereum blockchain and enables quick transactions and cheap fees, was used to mint the whole 45,000 NFT supply.
Trump Indicted on Criminal Charges
As a first for a former US president, a grand jury in New York indicted Trump on criminal charges on March 30. The indictment is still sealed, so it’s unclear exactly what the charges are, but they arise from payments made to bury allegations of an illicit sex encounter during the 2016 presidential campaign.
More specifically, Michael Cohen, a former attorney for Trump, is accused of paying porn star Stormy Daniels $130,000 in hush money in 2006. Along with the assertions that he was involved in paying Daniels to be silent, Trump is accused by Daniels of having an affair with him, which he rejects.
Also, the accusation against Trump includes more than 30 counts relating to corporate fraud, according to CNN, who also stated that the former president is anticipated to be arraigned in Manhattan criminal court on Tuesday.
Following the announcement of the indictment, Trump recently criticised Alvin Bragg, the district attorney, and other Democrats in a statement. In a message released on Thursday, the former president predicted that Joe Biden would suffer a severe setback from the witch hunt.
The world of digital assets has experienced a massive boom in recent years, with the emergence of non-fungible tokens (NFTs) gaining a lot of attention. Make money from NFT and change your life now by getting in touch with a NFT development company.