Former US President Donald Trump’s digital trading cards have lost about 72 per cent of their value in one week, according to a report in Newsweek. It is based on an analysis of the non-fungible tokens (NFTs) done by OpenSea marketplace, which tracks the sale of these cards. Mr Trump’s digital collectibles were launched on December 15 and were sold out in less than a day. The NFTs were heavily mocked online but gave $4.5 million windfall to the creators.
There were 45,000 cards on sale, which retailed at $99 apiece. The former President also promoted these NFTs leading to an increase in their sale.
OpenSea said after these cards were sold out, they were re-traded which caused their values to soar, to an extent that it peaked at $999 by December 17.
But over the past week, the value of these cards has fallen drastically – to $280 by December 24 – as per Newsweek.
OpenSea further said the number of cards being traded daily has also fallen from 6,661 on December 17 to just 529 on December 22 and 260 on December 23.
NFTs are generally collected as virtual art and are created using the same programming that is used for cryptocurrencies. The NFTs are thus based on blockchain technology.
The digital cards had various themes, and showed Mr Trump in several avatars – as superhero, astronaut, sheriff and a NASCAR driver.
The website where these NFTs were sold called them “non-political”.
The sellers had offered individual Zoom call with Mr Trump, an exclusive dinner and meet-and-greet with him in his luxurious private Pam Beach resort. Other things included a hand signed memorabilia and a golf session with the former President and your friends.
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