People bought a lot of digital items related to Donald Trump after he was charged and accused in New York last Thursday. An article said that the number of sales of non-fungible tokens (NFTs) was the biggest it has been since early 2020, with profits of $4.7 billion, even though there were fewer sales in March.
Trump Digital Trading Cards
Sales for Official Trump Digital Trading Cards have gone up, according to data from Opensea in the NFT market. This is because President Trump, who used to be the president of America, is now being charged with a crime – which makes him the first person to ever become president while facing criminal charges.
A group of people called a Manhattan grand jury has accused someone of over 30 counts related to cheating in business. This was discovered after quite some time investigating an old payment made to Stormy Daniels, who is a famous adult movie star, around the time of the 2016 election for president.
In December, Trump shared his NFT card collection on social media. It was a huge hit and the first card got sold almost instantly! All these cards show him in different roles and some even transform him into a superhero character.
The sales of something, after certain things happened, shot up by more than 400% in one day and reached 90 ETH (which was about 166,000 dollars at the time). There were now almost 14,000 people who owned it. But now prices have gone back to normal levels again.
Rise of Non-Fungible Tokens
Dappradar, a global app store, reported that NFTs (non-fungible tokens) had a good start this year. During the first three months of 2023, their trading volume grew by 137%, reaching $4.7 billion – which is the biggest increase since 2022.
Dappradar found that during the first quarter of the year, Opensea was not the main player in the non-fungible token market. They said that a lot is changing in this market with new companies entering and causing changes.
The platform said that since February 2021, there has been a lot of competition between Opensea and Blur as the later had over 57% of the market in the first three months of this year. Even in March, it held more than 70% share in NFT Marketplace War.
Do you think the NFT market will increase or stay stable in the upcoming months? Leave your comment on this topic below to let us know what you think!
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