Former US President Donald Trump has been in the headlines again after news broke that he is due to appear before a grand jury in Manhattan for falsifying company documents. As a result of this development, the floor price of Trump Digital Trading Cards has surged by 21.5% in the NFT market. Let’s dive into the details and explore what this could mean for the NFT industry.
Trump’s Alleged Crime and the Grand Jury
According to a report by the Washington Post, Trump may have committed a crime by falsifying company documents. This news comes as Manhattan District Attorney Alvin Bragg reportedly convened a grand jury earlier this year to investigate the matter. It is yet to be seen what the outcome of the grand jury hearing will be, but the news has already had an impact on the NFT market.
NFT Price Increase and Sales Volume Surge
Following the news of the grand jury hearing, Trump’s NFTs have experienced a significant surge in price and sales volume. The floor price of Trump Digital Trading Cards has reached 0.59 Ethereum ETH, a 21.5% increase from its previous value. Additionally, sales volume has increased by 333% to 105 ETH, with the number of sales increasing by 284% to 188 units, as reported by OpenSea.
Trump Digital Trading Cards: A Popular Choice
Trump Digital Trading Cards have been a popular choice among NFT collectors, with the platform selling 45,000 collectibles in less than 12 hours on the first day of its December 16 launch. These NFTs feature former President Trump in a variety of creative costumes, including an astronaut, cowboy, and superhero. Launching on Polygon MATIC, the NFTs have offered buyers the chance to win exclusive prizes, such as a dinner or a meeting with Trump.
The surge in Trump’s NFT price and sales volume following the news of his indictment shows that political scandals can have a significant impact on the NFT market. While it remains to be seen what the outcome of the grand jury hearing will be, it is clear that the NFT market is sensitive to political events and could be impacted by them in the future. As NFTs continue to gain popularity and more high-profile individuals release their own NFT collections, it will be interesting to see how the market develops and what impact external factors could have on it.
