The Trump NFT collection recently saw a significant drop in value, losing 80% of its value within just 14 days. This raises the question: how did such a drastic decrease in value occur? Get to know the story behind the TrumpCards NFT collection.
What Happened to the Trump NFT Collection?
In addition to market conditions, several other contributing factors could be responsible for the dropping value of the collection. Firstly, the controversy surrounding the art used in the collection. The community claims the team used image templates rather than original art for the NFTs. This led to a lack of authenticity and trust in the collection from the community. Additionally, the team behind the Trump NFT collection were previously involved in a failed project. When the news spread, their reputation became a red flag for the community’s trust. Overall, it seems the combination of these negative factors, including market conditions, controversy surrounding the art, and the team’s reputation, all contributed to the decline in value of the collection.
Both sales volume and floor price dropped since its release.
Image Credit: OpenSea
What is the TrumpCards NFT?
TrumpCards NFT is a collection of non-fungible tokens (NFTs) featuring former United States President Donald Trump. Collections buy these NFTs, also known as digital collectibles, using cryptocurrency. Each TrumpCard NFT unique and cannot be exchanged for another NFT.
The Trump NFT collection includes a variety of different types of NFTs, including limited edition cards featuring images of President Trump, as well as rare and one-of-a-kind cards. The rarest ones also grant special prizes for collectors, such as meeting the former president face-to-face. These NFT used marketing to attract fans of President Trump, and their value depends on their rarity and perceived demand among collectors.
The Trump NFT collection was launched in December 2022 and quickly gained popularity among collectors. However, as mentioned above, the value of these NFTs has recently dropped significantly, losing 80% of its value within just 14 days. Despite this drop in value, the Trump NFT collection remains a popular choice among collectors, and it will be interesting to see how the value of these NFTs fluctuates in the future.
