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Polygon-Powered Trump Digital Trading Card NFT Floor Prices Hit New All-Time High as Sales Rise

source-logo  cryptoglobe.com 17 February 2023 00:20, UTC

The non-fungible token (NFT) digital trading cards launched by former U.S. President Donald Trump have seen their floor price surge to a new all-time high above the $1,000 mark at a time in which sales are growing and trading volume is keeping up.

According to data from NFT price floor, Trump’s digital trading cards currently have a floor price of around 0.6799 ETH, equivalent to $1,145. Their floor price rose from 0.33 ETH, or $555, at the beginning of this month, and from 0.167 ETH ($280) at the beginning of the year.

The floor price, it’s worth noting, is the cheapest-listed price of an NFT for a specific project, and in this case started off at around 0.05 ETH (around $84).

The NFTs were originally priced at $99 each, with a total of 45,000 collectibles being minted on the Polygon ($MATIC) network, which is a Layer-2 scaling solution for Ethereum that provides users with faster transactions and lower costs as a parallel blockchain running alongside the main Ethereum network.

The digital collectibles depict the former U.S. President as a superhero, as a cowboy, and in other roles. They were initially sold with a chance to win special perks, like access to a meet-and-greet with him.

Shortly after being launched, the prices of these NFTs surged to surpass $990, but after their original hyped dropped, their prices kept on plunging, at a time in which trading volumes fell 99% from their peak.

NFT Floor Price’s data shows that sales volumes for the NFTs have grown by 31% over the last 25 hours, with the lowest sale being 0.562 ETH and the highest one sitting at 1.7884 ETH, or $946 for the lowest and $3,000 for the highest.

Trump has himself said that the NFT art images are “sort of cute,” pointing to it as a reason to launch the collection.

The jump in sales volumes and prices seems to be related to the former U.S. President is getting ready for a 2024 presidential campaign, with the possibility of being active on both Facebook and Twitter in the near future.

Trump was banned from these platforms after the January 6 attack on the U.S. Capitol Building, but has since been reinstated on Twitter after the microblogging platform was acquired by Elon Musk, and a poll saw users vote for his return, and on Facebook and Instagram after a recent announcement from Meta confirmed his access has been restored.