Donald Trump’s NFT’s floor price drops 80% in 10 days

Former U.S. President Donal Trump’s NFT collection, Trump Digital Trading Cards, lost 80% of its value as the floor fell to 0.16 Ethereum (ETH) from 0.84 ETH ten days ago.

According to OpenSea data, 45,000 NFTs are currently owned by a total of 15,115 owners, which equates to a 34% unique owner rate.

The NFT line

Trump launched his collection on Dec. 15 with 45,000 NFTs available for minting during the Sweepstakes Entry Period. Each NFT costs $99 during the entry period, which equates to 0.083 ETH based on the ETH prices at the time of writing.

The owner of the NFT line is NFT International LLC, which clearly stated that it is not “owned, managed or controlled” by former President Donald Trump. Selling each NFT for $99, the company was able to make $4.45 million upon launch. NFT International LLC is also taking a 10% cut on each trade, which equates to over $1 million in revenue, considering that the project’s current volume is 7,683 ETH at the time of writing

A few days after its launch, the NFT line received heavy criticism concerning internal minting, licensing errors, and alleged design plagiarism, corresponding to the time frame when the floor price started falling. The project minted 1000 NFTs internally, which included 68 rare NFTs in the collection, and the NFTs that include 47 of 179 1/1’s and 21 of 70 are autographed NFTs.