Trump Milks the Cash Cow with Second NFT Drop

Erstwhile US president, Donald Trump, has once again startled the NFT community with the launch of his second NFT collection. Hoping to replicate the success of his initial outing, the real-estate mogul cum politician has dropped another 47k trading cards on the blockchain.

The new collection, called Series 2, features 47,000 PFP NFTs minted on the Polygon network, with 1,000 cards held back by the developer. Each card was priced at $100 and the launch has generated around $4.6 million in sales. However, as of writing, the collection floor price sits precariously below the mint price at $97, with a suspiciously low 16% unique owners. 

Despite selling out quickly, the launch has hurt the value of the original Donald Trump NFT trading cards. As a result of diluting the NFT pool, the floor price of the first series has slumped by approximately 61% in the 24 hours since the new launch. Currently, the Series 1 NFTs are priced at around 0.13 ETH compared to nearly 0.4 ETH ($835) immediately prior to the launch of series 2.

Trump NFTs Divide the NFT Space

In comparison to the first launch, Trump’s team offers fewer ancillary benefits with Series 2. Buyers of 47 NFT trading cards will receive a ticket to a gala dinner with Trump at his Mar-a-Lago golf club in Florida.

Despite the drop in the value of Series 1, Trump has taken to Instagram to announce the launch of Series 2, expressing his decision to keep the price of the trading cards the same as the previous series. He stated that he wants his fans and supporters to have fun and make money and that he could have raised the price much higher, with the cards still selling well.

“I hope everyone notices, [and] 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!),” he wrote, “[and] sold out almost immediately, because I want my fans [and] supporters to make money, [and] have fun doing it.”

“I could have raised the price MUCH HIGHER, [and] 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?”

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*All investment/financial opinions expressed by NFT Plazas are from the personal research and experience of our site moderators and are intended as educational material only. Individuals are required to fully research any product prior to making any kind of investment.

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