Is Donald Trump's 4th NFT Collection Doomed to Fail?
The market seems to have spoken. The crypto market is bullish Donald Trump. After his assassination attempt last weekend, the former President saw his approval rating jump to 67% on Predictit.
Clearly not a fan of the Republican Party's presidential candidate, 20-year-old Thomas Matthew Crooks took matters into his own hands by attempting to remove Trump from the Presidential race.
However, Crooks, now deceased, failed to unalive the presidential contender and instead clipped Trump's ear and took out two innocent bystanders.
News of the assassination attempt only strengthened Trump's chances of a victory in November and consequently provided a boost to the crypto market including Bitcoin.
Riding on this wave, Trump told Bloomberg that he is now looking to release a 4th NFT collection. "I did things like NFTs and, you know, stuff. And I noticed that 80% of the money was paid in crypto," he said.
"It was incredible. So, NFTs are, you know, I did the—very successful. We had one year to sell it out and it sold out in one day. The whole thing sold out: 45,000 of the cards. And I did it three times [and] I’m going to do another one, because the people want me to do another one."
But is Trump's crypto popularity enough to guarantee the success of his fourth NFT collection?
Collection 1
On December 15, 2022, former Trump released the Trump Digital Trading Cards collection of 45,000 NFTs. Priced at $99, the collection sold out in less than a day, generating $4.4 million in sales.
As of the latest update, the floor price for these cards is 0.12962 ETH, which is approximately $454 USD based on current exchange rates. This represents a substantial increase of 358% from the initial purchase price of $99, excluding transaction fees.
Collection 2
On April 18, 2023, Donald Trump unveiled Series 2 of his Trump Digital Trading Cards NFT collection, featuring a total of 47,000 unique cards. Each card in this collection can have a maximum of 10 copies minted. Like the Series 1 Collection, the cost to mint each card is set at $99.
At the time of writing, the floor price for these cards stands at $134. This represents an increase of 35% from the initial minting cost of $99, excluding transaction fees.
Collection 3
On December 12, 2023, Donald Trump launched the third release of his Trump Digital Trading Cards, titled "The MugShot Edition," priced at $99 each. This collection features 47 portraits commemorating Donald J. Trump's career, notably after his arrest and mugshot.
As of now, the current floor price for these cards stands at $245. This reflects a remarkable increase of 147% from the initial price of $99, excluding transaction fees.
Collection 4?
Donald Trump's upcoming NFT collection is poised to build on the success of previous releases. While specific details like the exact number of cards and the pricing of around $99 per card are not confirmed, the collection is expected to be limited in supply, potentially following a similar model to past editions.
The collection's theme, possibly tied to Trump's presidency as the 47th president, suggests a symbolic approach to the number of cards available. Additionally, the potential inclusion of exclusive perks such as opportunities to meet Trump at Mar-a-Lago or dine with him adds considerable allure to the cards.
Recent events, including heightened media attention following a notable incident, have amplified interest in Trump-related memorabilia and collectibles. This renewed attention may contribute to a strong market reception for the upcoming collection, presenting an opportunity for early participants to potentially benefit from its anticipated popularity and value appreciation.