The 45th President of the United States, Donald Trump, recently declared the launch of his second series of non-fungible token (NFT) collection called Trump Digital Trading Cards.
Trump mania on the blockchain continues
The announcement was made on his social media platform, Truth Social, on Tuesday. In his post, Trump expressed that he decided to expand the collection following the success of the initial release and that it is now available for collectors to acquire.
Trump’s Digital Trading Cards, Series 2, will be minted on Polygon, with the original mint price of $99 remaining constant. However, the art, rarity traits, and utility features of the tokens will vary from those of the initial collection.
The new series will consist of 47,000 NFTs, 2,000 more than the first series that was launched in December 2022, potentially a nod to his aspirations of returning to the White House as the 47th president.
The Trump Digital Trading Card website confirms that each of the ten tokens will differ from one another in terms of features. The website also specifies that instead of a sweepstake, collectors who buy 47 tokens will be eligible to enjoy a meal with Trump at his luxurious Mar-a-Lago resort located in Florida.
Additionally, collectors who purchase 100 tokens using cryptocurrency will not only be entitled to a meal but also receive a distinctive one-of-a-kind Trump-themed artwork.
First collection floor price drops
The launch of the second series of the Trump Digital Trading Cards has had an adverse effect on the value of the first collection. As more NFTs of Trump flood the market, they will become less scarce and, thus, less valuable.
On OpenSea, the minimum price of the initial collection dropped significantly from approximately 0.4 ETH, which is equivalent to $840, to 0.2 ETH, or $420, representing a 50% decrease in value. This is a substantial decline, especially when considering that the floor price of the first collection had surged following news of Trump’s indictment earlier this month.
Digital Trading Cards – controversial cash grab or legit collection?
In December, Trump released his inaugural NFT collection, which sold out within hours. Recently filed records from the U.S. Office of Government Ethics reveal that Trump generated earnings ranging from $500,000 to $1 million from the collection.
Trump’s announcement of the launch of the second series of trading cards has sparked criticism from many, particularly given his indictment. Some argue that Trump should concentrate on addressing the charges against him rather than engaging in activities that appear to be driven by financial interests.
Trump’s NFT collection has faced criticism from others who question the worth of the tokens, arguing that they are not backed by any physical asset and only hold value because people are willing to purchase them. Stolen artwork was also allegedly used to create the collection.
However, despite all the controversy, Trump’s brand power alone will be enough to push sales and attract interest to this second NFT collection.