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Donald Trump has boasted about the success of his non-fungible token (NFT) trading cards despite a sharp drop in their value.
The former president announced that he would be releasing a second batch of his NFTs on April 18 after the first series of 45,000 Trump Trading Cards on sale for $99 in December 2022 sold out within a matter of hours, raising nearly $4.5 million in the process.
The second batch of Trump NFTs again features images of the former president in an array of costumes, such as one of him in black leather and sunglasses reminiscent of Elvis Presley, and another of him holding the cracked Liberty Bell.
"My New Trump Digital Trading Cards Series 2 is the Number One Collection in the World. It must be that people love the art. A great honor!" Trump posted on Truth Social on Wednesday, April 19.
With the second batch of Trump Trading Cards on sale, their release has dramatically reduced the value of the first collection.
In the 24 hours after Trump announced the second batch of NFTs, the price floor for Trump Digital Trading Cards fell from around 0.42 Ethereum ($822.55) to just 0.1 on Tuesday, according to NFT trading platform OpenSea.
As of early April 20, the current floor price of Trump's Trading Cards are 0.14 ETH.
The Trump Trading Cards project is currently ranked 73 in NFT Price Floor with a floor cap of 6,349 ETH, according to NFT Price Floor. The site also lists the NFTs current floor price at 0.12 ETH, down from 0.387 from the day before the second series of Trump NFTs went on sale.
After being banned from Instagram for more than two years in the wake of the January 6 attack, Trump returned to the social media platform for the first time since his suspension was lifted to promote his latest round of NFTs.
In a follow up Instagram post which featured an NFT of him in superhero attire and wearing a boxing belt around his waist with his name on it, Trump suggested he should be praised for keeping the price of the second series of the online tokens the same despite the first batch selling out.
"I hope everyone notices, & I'm sure the Fake News won't, that I'm leaving the price of the Trading Cards the same as last time, even though they are selling for MANY TIMES MORE (It's called the MARKET!), & sold out almost immediately, because I want my fans & supporters to make money, & have fun doing it," Trump wrote.
"I could have raised the price MUCH HIGHER, & I believe it still would have sold well, with a lot more money coming to me, but I didn't choose to do so. I WILL BE GIVEN NO 'NICE GUY' CREDIT?"
Trump's office has been contacted for comment via email.
About the writer
Ewan Palmer is a Newsweek News Reporter based in London, U.K. His focus is reporting on US politics, and Florida ... Read more