After a sell-out launch that pocketed roughly $4.45 million from primary sales, former United States President Donald Trump’s nonfungible token (NFT) collection is already on a crash course toward Earth.
Trump rolled out his oddball self-themed 45,000 NFT trading card collection on Dec. 16 for $99 a pop. The NFTs were all gobbled up within a couple of hours of launch, and within the next two days, the floor price on OpenSea shot up to an all-time high of around 0.83 Ether (ETH), or $1,006.
Since then however, the floor price has been volatile, while some in the community have highlighted that the NFT artwork may been plagiarized from other sources.
According to OpenSea data at the time of writing, the floor price sits at 0.2 ETH ($242), marking a hefty retracement of roughly 75%.
Trump NFTs Tanking as Hype Dies, Floor Price Down 70% https://t.co/gFAQLguJbl
— Commom’sen (@SenCommom) December 21, 2022
Trading volumes have also dried up significantly, going from around 1,541 ETH ($1.8 million) on Dec. 18 to just 14.37 ETH ($17,402) by Dec. 21.
Gone in 77 Seconds
Another big celebrity name jumped on the NFT bandwagon this week. NBA Hall of Famer and Chicago Bulls great Scottie Pippen launched an NFT project that sold out in just 77 seconds.
The drop dubbed “Scottie Pippen SP33” consists of 1,000 unique NFT metaverse-wearable sneakers, which went for a mint price of 0.2 ETH ($241). The Ethereum-based NFTs are said to be compatible with “just about any ecosystem.”
The floor price has since risen to 0.42 ETH ($507), according to OpenSea data, with the project generating 211 ETH ($255,000) in trading volume since Dec. 21.
A limited number of randomly chosen hodlers will also receive bonus benefits, with 33 receiving a physical pair of sneakers, two getting the chance to play golf with Pippen and one lucky person getting a tour of Pippen’s hometown plus a dinner afterward.
The NFTs were developed in partnership with Web3 entertainment firm Orange Comet, which seems to have a solid format down pat given that…
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