Trump’s Third ‘Mugshot’ Series Propels Sales, Boosts Volumes Of First NFT Collection By Benzinga

Trump's Third 'Mugshot' Series Propels Sales, Boosts Volumes Of First NFT Collection
© Reuters. Trump’s Third ‘Mugshot’ Series Propels Sales, Boosts Volumes Of First NFT Collection

Benzinga – Sales for Donald Trump’s first collection of NFTs, known as Trump Digital Trading Cards, have seen a 400% increase in trading volume within the last 24 hours. This surge coincides with the release of Trump’s latest series titled the ‘Mugshot’ collection.

What Happened: Following the announcement of the new collection, values of the first NFT collections surged by 30% in floor price, according to figures from NFT Price Floor. The current floor price of the collection stands at 0.17 Ethereum (CRYPTO: ETH).

Data from NFT marketplace OpenSea shows a 250% rise in trading volume for Trump’s first NFT collection in the past 24 hours alone.

Trump first ventured into the digital collectible space in December 2022 with his Trump Digital Trading Cards. The series was an instant success, selling out within just 24 hours of its release. Priced at $99 apiece, these NFTs didn’t just sell fast—they soared in value and have been consistently trading at prices well above their initial offering.

April 2023 saw the debut of Series 2 of Trump’s NFT collection. Keeping the momentum going, Trump took to his Truth Social account this Tuesday to announce a third drop: the ‘Mugshot’ series.

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Why It Matters: The ‘Mugshot’ series arrives amid Trump’s legal challenges; he was indicted on 13 felony charges related to attempts to influence the 2020 election results in Georgia. Photographed at the Fulton County Jail in Atlanta in August, Trump has pleaded not guilty to all charges, which range from solicitation of violation of oath by a public officer to racketeering.

Trump’s cryptocurrency investments, particularly in Ethereum (ETH), seem to be flourishing. Blockchain analytics firm Arkham Intelligence has been monitoring a wallet alleged to belong to Trump. The former president’s ETH holdings witnessed an increase of $1 million over the past month. Back in October, the same crypto wallet reportedly contained 1,553 ETH, valued at over $2.7 million at the time.

Photo via Shutterstock

Price Action: At the time of writing, ETH was trading at $2,167, down 2.91% in the last 24 hours, according to Benzinga Pro.

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© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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