The world of NFTs has been taken by surprise yet again as Donald Trump’s digital trading card collection announces the release of S2 of its NFTs at a price of $99 each. The announcement came with little warning, accompanied by an image of Trump promoting the event on Truth Social, a social media platform he recently launched.
These are just like baseball cards, but you collect them digitally, on your computer or phone. All you need is an email address and a credit card or crypto to start collecting 1, 10, 20 or 100. Instantly become part of a new league of collectors. – Donald Trump
This is not the first time Trump has dabbled in the world of NFTs. In December, he helped promote a similar drop of NFTs as part of a digital trading card collection, which saw S1 boast over 40,000 NFTs and reach a floor price as high as 0.695 ETH after minting for $99.
The Trump S2 collection will require Know Your Customer (KYC) verification, and buyers can purchase at most 10 copies of each NFT, some of which are 1-of-1s. Those who buy 47 NFTs will receive dinner at Mar-a-Lago, while those who purchase 100 NFTs will receive a limited-edition Trump NFT. The NFTs will be minted on the Polygon blockchain.
The announcement of S2 of the Trump Digital Trading Card collection has caused quite a stir in the NFT community. The S1 cards did not contain any metadata that specified “series,” indicating that additional series of NFTs were not always part of the project plan. The drop in floor price amidst the new dilution likely speaks to the market’s feelings on the surprise announcement.
The numbers show that the Trump Digital Trading Card floor price has fallen more than 60 percent in the last hour to 0.16 ETH each, a significant drop from its initial floor price of 0.695 ETH. For comparison, the mint of a new Trump card is approximately 0.05 ETH.
This latest move by Trump has once again put his NFTs in the spotlight, with attention drawn to them following the former President’s indictment. It remains to be seen whether the S2 collection will garner the same level of attention and success as the first, but one thing is for sure: the world of NFTs is never dull.
Is Trump Bad For Crypto and NFTs?
The world of cryptocurrency and NFTs has been under increased scrutiny lately, with regulators and lawmakers calling for more oversight and regulation of these digital assets. This heightened scrutiny has made an already complex and confusing landscape even more difficult to navigate. Adding to the confusion is the fact that the left is often at odds with the world of cryptocurrency and NFTs, with many progressives viewing them as tools of the wealthy and powerful that perpetuate income inequality. This political opposition could make it even more challenging for those looking to get involved in the world of crypto and NFTs, as they must navigate a complex regulatory landscape while also contending with political pushback. As the future of these digital assets remains uncertain, it is important for those interested in the space to stay informed and aware of any changes or developments that may arise.
Do Your Own Research
When researching cryptocurrencies or NFTs, be sure to consider factors such as the project’s goals, technology, team, and community. Look for unbiased sources of information, including reputable news outlets, blogs, and forums. Be cautious of hype and marketing tactics, and always approach investment opportunities with a critical eye.
It’s also important to remember that investing in cryptocurrencies and NFTs is not financial advice. While it may be tempting to follow the advice of influencers or social media personalities, it’s essential to make your investment decisions based on your own research and analysis.
Finally, it’s crucial to only invest what you can afford to lose. Never invest more than you are comfortable losing, and always have a solid exit strategy in place. By taking a cautious and informed approach, you can minimize your risks and make more informed investment decisions in the world of cryptocurrency and NFTs.