- The much maligned Trump Digital Trading Cards went 10x over the weekend
- Some NFTs sold for $991 after being minted for $99
- The cards sold out at mint, earning Trump a big slice of $4.5 million
Donald Trump’s digital trading cards may have made him the laughing stock of the crypto world, but he is having the last laugh – the floor price has more than quadrupled in a matter of days. The cards, which cost $99 each to mint, topped out (for now) at 0.84 ETH, or $991, on Saturday, representing a 10x for those lucky enough to sell at that price. The floor price has more than halved since then, but still remains more than 4x the minting price, and with Trump and his team retaining the first 1,000 mints, including a quarter of the most valuable ones, his next political campaign could be very well funded indeed.
Dollar Price Briefly Goes 10x
Trump shocked the crypto and non-crypto worlds alike with his “major announcement” last week, which turned out the be the launch of Trump Digital Trading Cards, a collection of NFTs featuring the former president reimagined (and slimmed down) in a variety of unlikely guises, such as football player, boxer and, ironically, army general.
The output, and the $99 per-mint cost, was such a clear money-grab that many were of the belief that the collection would sink like a stone, but if it is then it’s having its moment first – the floor price enjoyed a rise over the weekend up to almost $1,000 for some pieces, before falling away:
The fact that the 45,000 cards all sold out means that Trump picked up a hefty slice of nearly $4.5 million, and it could get better if the floor price holds up – Trump and the team behind the project mint is holding the first 1,000 NFTs that were minted, including hundreds of the rarest around, something that hasn’t gone unnoticed in the crypto space:
1/ Turns out Donald Trump minted a thousand of his own nfts to his vault wallet
Keeping a giant portion of the most rare nfts in his collection for himself
The 2nd minted nft was a rare 1-of-1, the chances … pic.twitter.com/3m0MQGQydp
— OKHotshot (@NFTherder) December 17, 2022
Trump Has the Last Laugh
While many, including this outlet, were mocking the quality of the NFTs, it seems that Trump doesn’t, and perhaps shouldn’t care – his reputation is so low among millions of people already that churning out a bunch of awful NFTs means nothing to him, and it resulted in a nice pay day:
The left mocked President Trump for his NFT playing cards and while they were laughing the President sold every card and made $4.5 million in 24 hours.
Who is laughing now?
— Nick Adams (Alpha Male) (@NickAdamsinUSA) December 16, 2022
Whether those who bought at 0.84 ETH will live to regret their decision remains to be seen, but this being a bear market, and potentially a very nasty one, an election victory may be the only thing that can save their investment.