Donald Trump’s NFT collection sales rise by 462% after his arrest

The value of the assets has increased almost nine times the price at the time of the launch of the project

05.04.2023 - 09:25

478

2 min

What’s new? Sales of non-fungible tokens (NFTs) from Donald Trump’s collection skyrocketed following his indictments in New York on April 4. Within one hour of the 45th US president’s arrest, 30 transactions were made, and 47 tokens were sold in six hours. Compared to a long period of investor inactivity, there was a 462% increase, according to the OpenSea NFT marketplace.

Collection page on OpenSea

What else is known? Trump has been in custody for about two hours, facing charges of forgery of financial documents. There are a total of 34 counts in the files on which the former president pleads not guilty. He considers what is happening to be a “political persecution and election interference at the highest level in history” After the hearing, Trump left the courthouse and flew to Florida.

About the collection. Trump released his collection in December 2022. Back then, one token could be purchased for $99, and buyers could enter a lottery and receive additional perks. The collection was sold out quickly, and the price more than doubled on the secondary market.

As of April 5, 09:05 UTC, the minimum price of NFT is 0,45 ETH ($859,95), and tokens are distributed among 13 955 accounts. The value of the tokens is now almost nine times higher than the original price.

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On January 25, Porsche’s NFT collection took the top spot in terms of the daily trading volume. This came after the automaker announced the early termination of the issue of tokens on its platform due to low sales.

And in October 2022, actor Anthony Hopkins’ first NFT collection, The Eternal Collection, was sold out in less than seven minutes, and high demand caused technical issues.

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