Trump NFTs gain traction after Donald Trump’s alleged criminal charges

Trump NFTs gain traction after Donald Trump’s alleged criminal charges

The NFT collection of Former U.S. President Donald Trump has gained traction over the past few days owing to the criminal charges he could face in New York that could lead to his arrest.

Trump NFTs floor price is up 22%

Donald Trump is facing a Manhattan district attorney probe into allegations that he is connected with hush-money payments. The money was allegedly paid to Stormy Daniels, a porn star, in 2016 during the former president’s election period. 

The NFT collection, Trump Digital Trading Cards, depicted Trump in costumes such as a basketball player, superhero, and cowboy. In total, 45,000 NFTs sold out upon their launch despite the criticism surrounding Trump’s venture into NFTs. Some of his supporters bashed him for not taking his 2024 campaign seriously.

On Dec. 17, two days after the NFTs launched, their floor price was at 0.82 ETH. The following week, the NFTs fell to 0.23 ETH for the floor price. By January, the floor price fell even more to 0.212 ETH. Since then, the price managed to go higher to trade as high as 0.68 ETH, to lows such as 0.42 ETH.

However, these NFTs have gained traction over the last week, and their floor price increased by 22% to around $0.55. Meanwhile, the total sales volume is 12,974 ETH, based on OpenSea data.

The traction came after Trump announced over the weekend that his arrest could be imminent. He also called upon his supporters to orchestrate protests on his potential arrest. 

Cohen’s play in the Trump charges

The hush money, amounting to $130,000, was allegedly paid through a shell company by Trump’s former lawyer, Michael Cohen. Daniels received the money to keep quiet about an alleged sexual encounter with Trump. Trump later reimbursed Cohen, and the transaction was entered as a legal expense by the Trump Organization. 

Notably, in 2018, Cohen was imprisoned after pleading guilty to federal charges of tax evasion and campaign finance violations. As for Trump, he denied any involvement in arranging the payments or in the extramarital affair he has been accused of. 

Meanwhile, Trump NFT sales proceeds will not be used for Trump’s 2024 election campaign, as stated on the NFTs website.

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