Original Trump NFT collection trading volume plunges 99% in past 30 days ahead of criminal trial

While former U.S. President Donald Trump appears to have warmed to crypto and bitcoin since the billionaire entrepreneur dropped his first edition of digital trading card NFTs in late 2022, interest in that original collection has certainly cooled. 

Trading volume for the initial collection of 45,000 NFTs featuring glorified, cartoonish images of the 45th president has plummeted by 99% in the past 30 days, according to OpenSea data, which also shows there hasn’t been a single transaction in the past week.

OpenSea data indicate that the collection has generated more than $50 million in total trading volume since dropping in December 2022.

Meanwhile, while overall NFT trading volumes are subdued when compared to the bull run of 2021, activity has been relatively stable in recent months in terms of buying and selling, according to The Block Data Dashboard. Sales volumes for NFTs on Ethereum — historically the most popular blockchain for non-fungible tokens in terms of trading activity in U.S. dollars — hit $489 million in March, according to CryptoSlam! data.

Thinning interest in Trump NFTs comes as the real estate tycoon, running again for president this year, gets set to begin his criminal trial for allegedly falsifying business records to conceal hush money payments. 

The second series collection of Trump’s digital trading has fared relatively better than the first edition, albeit with trading volumes declining by 57% in the past 30 days, according to OpenSea data. In a recent drop of another collection, collectors were given the chance to win a dinner invitation to eat with Trump at Mar-a-Lago. The gala dinner is scheduled for May 8, according to a recent post to X.

Company managing NFT drops

The NFT drops and promotions have been managed by NFT INT LLC which, according to the according to the website for the former president’s digital trading cards, “is not owned, managed or controlled by Donald J. Trump, The Trump Organization, CIC Digital LLC or any of their respective principals or affiliates.” 

NFT INT LLC didn’t immediately respond to a request for comment.

The website also states: “NFT INT LLC uses Donald J. Trump’s name, likeness and image under paid license from CIC Digital LLC, which license may be terminated or revoked according to its terms.”

Trump, however, has previously been listed as CIC Digital LLC’s manager, president, secretary and treasurer, according to information published by the Citizens for Responsibility and Ethics in Washington.

The NFTs based on Trump’s likeness are minted on Polygon.

Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.

© 2023 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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