The New York Attorney General pumped some NFT holders’ bags last week by indicting Former President Donald Trump. After the indictment was announced, the volume of the Trump Digital Trading Cards NFT collection surged over 400%. What happened to cause this pump?
Why did the Trump NFTs pump after the indictment?
The Trump Digital Trading Cards is an unusual collection. When something good happens to Donald Trump, the floor price rises. When something bad happens to Donald Trump, the floor price rises. It came as no surprise, therefore, that the floor price went up 43% from .41 eth to .59 eth in the days following his indictment.
There’s an old cliché that says, “there’s no such thing as bad publicity.” The 45th President epitomizes this saying better than anyone. The collection floor seems to mostly parallel public interest in Trump, even if the increased interest comes from seemingly negative events.
What is the Trump NFT Collection?
Trump Digital Trading Cards is a 45,000-piece NFT collection that launched in Dec 2022 on Polygon. Each NFT features the former President in various masculine poses, some include him dressed as a superhero, others have him wearing boxing gloves, and all of them have MAGA-themed patriotic imagery. Trump himself advertised the project with a short, televised appearance last year in which he pitched the project’s selling points and called himself the greatest President ever, saying he was, “better than Lincoln, better than Washington.”
The project’s description reads, “Are you ready to make history? For the first time ever, collect your own Official Trump Digital Trading Cards by President Trump. Incredible, hand-drawn art, inspired by President Trump’s extraordinary life & career.”
To be fair, Donald Trump has led an extraordinary life. Not only is he the first President to have their own NFT collection, but he’s also the first President to be indicted on criminal charges. Even if he is found guilty, the Trump Digital Trading Cards collection seems like one of the safer bets in NFTs.