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The trading volume of Donald Trump’s Digital Trading Cards, which feature images of the former president dressed as a superhero and as an astronaut, has fallen off a cliff, according to data from CryptoSlam.
The main launch in mid-December is seen 44,000 of the $99 NFTs were sold in 24 hoursthat the project raised almost $4.5 million.
But on Tuesday, the project, which is on the Polygon blockchain, was recorded just short of $22,500 in sales, a drop of 99.4% since its launch date. Only 49 unique buyers interacted with the project in the last 24 hours, compared to about 2,200 in mid-December, according to CryptoSlam. Just a few days after the collection was launched, an NFT featuring Trump’s autograph next to a picture of him wearing a suit was sold for 37 Ether (about $49,000).
Still, at 0.179 ETH (about $237), the collection’s price floor—the lowest price for an NFT in a given collection—on the NFT market OpenSea more than double the initial price tag.
NFTs are widely derided late night talk shows, social mediaand of the Republicans following Trump “big announcement” Last month. Even Trump’s one-time chief strategist Steve Bannon criticized the project saying the team behind it should be fired.
Some have called out the poor quality of the artwork, saying it pales in comparison to many other NFT projects.
The clothing featured on Trump’s trading cards was also removed from a sportswear store’s website, as well as from Amazon, Gizmodo reported.
Some on social media have called the project a scam because of the huge drop in trading activity just a month after the cards were released. But in the NFT space, it is also common for projects to fail quickly after peaking.
While the former president said in 2019 that he is “not a fan” of cryptocurrencies, he boasts of NFTs in a video on his own social media service, Truth Social, as the “perfect gifts.”
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