On December 15, former President Donald Trump’s NFT collection featuring him in heroic poses went live and immediately caused a stir in the world of NFTs. The collection came with a lot of interest, and initial sales were strong. However, as the month progressed, the excitement around the NFT collection began to wane, and sales slowed.
But just when it seemed like the Trump NFTs were on a downward trend, a sudden surge in sales. The collection has once again become a hot topic of conversation and is seeing an influx of buyers. The sudden resurgence in interest and sales begs the question, what’s behind this sudden resurgence?
The Resurgence
The Trump NFT collection has been making headlines again. This time for its sudden and significant hike in sales value. According to CryptoSlam, the NFT collection is rising in sales value by over 800% in a week.
From slightly under $35,000 to over $300,000, the company’s data shows that over $240,000 came in just the last week. This sudden surge in sales and value has caught the attention of many in the crypto community.
One possible explanation for this sudden resurgence in interest and sales of the Trump NFTs is the subsiding of the crypto winter of 2022. In recent weeks, crypto trades have been rising, with Bitcoin hitting $22,000 in the new year and Ethereum reaching the required support levels for a bull run.
As the crypto market continues to recover, more investors and collectors are likely interested in NFTs like the Trump collection. The market is becoming more bullish, drawing more attention toward NFTs.
The Reasons for the Boom of Trump’s NFT Collection
According to Ethereum, over 110 Trump NFTs were sold yesterday, with an average sale price of $290 in Eth. In the last week, 704 NFTs have sold at an average price of $400. The creators launched the collection on Polygon, and despite its controversial nature, many NFT fans and enthusiasts are buying and selling NFTs in the NFT collection. The sudden surge in sales and high average sale prices suggests a strong demand for the Trump NFTs.
The boom in sales could be due to a combination of factors. The collection’s unique and controversial nature, the subsiding crypto winter, and the overall bullish market in NFTs and cryptocurrency could all be contributing to the collection’s success.
However, the prime success vehicle could be the former President’s return to social media. On January 6, 2021, the big fish in social media banned Trump from major social media platforms such as Twitter, Facebook, and Instagram.
This ban happened after a mob of Trump supporters stormed the U.S. Capitol building in an attempt to overturn the 2020 presidential election. The ban was due to concerns that Trump’s statements and actions could incite further violence.
Since the ban, Trump has been unable to use these platforms to communicate with his followers and supporters for two years. However, his return to these social media platforms could be the prime reason the NFT collection is booming. It’s clear that the Trump NFT collection has caught the attention of many in the crypto community, and it will be interesting to see how sales progress in the coming weeks.
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