Donald Trump’s Trading Cards Have Lost This Much Value in One Week
Donald Trump’s Trading Cards Have Lost This Much Value in One Week
Donald Trump’s digital trading tokens have lost 72% of their value after initially surging online last week, according to statistics from the OpenC website, which tracks sales of non-fungible tokens (NFTs).
On December 15, Trump put 45,000 cards up for retail sale at $99 each. All the cards were sold out within hours of Trump’s one-of-a-kind wealth promotion online.
According to OpenC, many cards were re-traded after being sold last Saturday, December 17, and their value increased, reaching 0.82 Ethereum, or $999.
But their value has dropped 72 percent in the past week, according to the site, with each card now worth 0.23 Ethereum, or $280, as of Dec. 24 at 8:38 a.m. ET.
Each card has still gained significant value since first going on sale, with their cost increasing by 182 percent since becoming available.
The number of Trump digital trading card sales on the OpenC website has been declining daily, from a high of 6,661 on Dec. 17 to just 529 on Dec. 22 and 260 on Dec. 23.
NFTs are pieces of virtual art whose ownership is recorded on the blockchain, a mass peer-to-peer network of computers, using the same technology as cryptocurrencies like Ethereum.
Trump announced earlier this month that he would make a “major announcement” through his Truth Social website, which many commentators assumed would be linked to his 2024 presidential bid.
Some prominent Trump supporters were outraged when the announcement turned out to be a digital trading card, which the former president described as “very much like a baseball card, but hopefully more exciting.”
In response to his podcast, right-wing commentator Steve Bannon, formerly Trump’s chief White House strategist, said “I can’t do this anymore,” before anyone who thought the cards “should be fired today.”
After the cards sparked mockery online, politics professor Eddie Zipparar asked if they were “a meme to make fun of Trump.”
Trump said on Friday that he simply “loved the art” which is why he decided to release the trading cards.
Speaking to conservative network OAN about the NFT, the former president said: “Well I didn’t know anything about them and then a group came and I loved the art. They showed me the art.
“You know, it’s comic book art when you think of it, but they showed me the art and I said, Gee, I’ve always wanted to have a 30-inch waist.”
On December 22, the House Select Committee investigating the January 6 attack on Congress and efforts to overturn the results of the 2020 presidential election released its final report.
Anyway concluded that Trump was the “central cause” of the storm on Capitol Hill by hundreds of his supporters on January 6, 2021.
Trump strongly denied any wrongdoing and insisted that he told his supporters to be peaceful that day. Although not legally binding, the committee referred Trump to the Justice Department for prosecution on four counts.