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Former U.S. President Donald Trump's second collection of non-fungible tokens (NFTs) sold out in the early hours of Wednesday morning, just one day after being made available to the public.

 

 

The latest collection boasts a total of 47,000 tokens, priced at $99 per unit, and includes a limited edition one-of-one NFTs and autographed cards. Buyers who acquire 47 tokens are entitled to an exclusive dinner with Trump at his opulent Mar-a-Lago estate in Florida, whereas those who purchase 100 tokens not only secure the dinner invitation but also receive a distinctive collectible with new rarity traits.

The subsequent series showcases artwork that bears a striking resemblance to the pieces featured in Trump's initial NFT launch in December, which also achieved a sell-out within 24 hours. The first collection surpassed all expectations and its minimum price increased significantly within the first day of the sale, with prices on the secondary marketplace OpenSea climbing to 0.19 ETH, equivalent to approximately $230 - over twice the original price. Trading volume also grew to 900 ETH, or $1.08 million, in the day following the release.

According to the latest submissions, it appears that Trump earned somewhere between $500,000 to $1 million through a licensing agreement he signed with the creator of the NFT collection.

A better way to express this sentence could be: Nevertheless, the current iteration of Trump Trading Cards has seen a decrease in demand on the secondary market.

OpenSea reports that the floor price for the second series stands at approximately 0.053 ETH, which is equivalent to around $108, a mere few dollars higher than the initial mint price of the token. Despite the fact that the price of ether in December was about 40% lower than its current value, the trading volume for the token remains at a significant 774 ETH, which is equivalent to approximately $1.5 million.

Although ETH is currently valued at approximately $2,000, the returns for investors in the second collection appear to be less attractive in terms of both speculation and utility. In contrast, the first collection offered numerous sweepstakes with greater opportunities to win real-life experiences such as a Zoom call with former US President Donald Trump, a dinner in Miami, or a cocktail hour at Mar-a-Lago.

Momentum is slowing

Shortly after the release of the second installment of Trump Digital Trading Cards, Twitter users ridiculed the "cringeworthy" artwork, which was even more bizarre than that of the first series.

 

Although a significant number of tokens in the new collection maintain the same style as those in the previous collection, showcasing artwork of the former president in various outfits and settings, the latest tokens depict Trump engaging in diverse activities such as playing the guitar at a concert, hosting a barbecue, being portrayed as a "king" chess piece, and even taming a lion.

“It's Trump's attempt to paint himself as the ‘alpha male’ he always wanted to be,” said independent journalist Ed Krassenstein on Twitter.

A scarcely available NFT that portrays Trump as the King of Hearts has been listed on OpenSea for 47 ETH, equivalent to approximately $94,000. However, as of the time of writing, the highest bid for this collectible is at 0.84 ETH, which is around $1,600.

Shortly after the second collection was released, Trump lamented its mint price of $99, claiming that he “could have raised the price much higher” and said he “will be given no ‘nice guy’ credit,” in doing so.

 

Nevertheless, even with the "nice guy credit," it may not suffice to boost sales for either collection.

OpenSea data reveals that the floor price of the initial Trump Trading Cards series has been gradually decreasing over the past 24 hours. From Tuesday, the floor price has plummeted from 0.2 ETH, equivalent to $400, to around 0.14 ETH, or approximately $280. In the meantime, the level of engagement in the second collection appears to be diminishing, as evidenced by a drop in sales figures from earlier in the day.

Source Coindesk