Trump’s NFT-facilitated Zoom calls are trading below $25 as interest dwindles
Donald Trump’s NFT-facilitated zoom calls have dropped in price, with tickets worth less than $25. There appears to be little interest in the offer.
Hype around the project is dying down
Donald Trump, the former US president, launched his “Win Trump Prizes” collection on December 16, 2022. Initially, there was a lot of hype around the collection. The collection featured 45,000 digital trading cards of Trump in cartoonish and exaggerated images. He promoted these cards as “limited edition cards,” adding that they could make a great Christmas gift.
On the launch day, the NFTs went live with a sale for $99 each. In just 24 hours, 44,000, which was the number of NFTs released, were sold out.
One of the major selling points of purchasing the cards was the much-desired opportunity to join a 2,000-person Zoom group call with Trump himself, the former president. Notably, the call is such that it goes on for up to 20 minutes.
During this time, the participants can send Trump questions before the call. However, there is no guarantee that the questions will receive a response. However, the buzz soon wore out and sent the prices lower by large compared to the asking price.
Even with such a rare opportunity, this offer has little interest. The tokenized tickets are on sale for below $25. As for the in-person NFT benefits, such as dining or a meet-and-greet with the former president, are still on offer.
Others who previously purchased these tickets are selling them. One investor is selling his NFT ticket for a gala dinner on Opensea at 50 ETH($70,000). Another is selling the Zoom ticket at around $200 ($250,000) on the same platform. However, this does not mean that these sellers will pocket the exact figures from their asking prices or anything close.
Trading volumes are low on the project
The Win Trump Prizes NFT collection has yielded only 35 ETH in trading volume on secondary markets. Of the collection, the largest sale was on December 21, worth 5 ETH for an NFT, which is a redemption ticket digitally signed by Trump. The second largest was the 2 ETH sale of the meet-and-greet ticket pass to see the former president.
The low sales can be attributed to the mocking responses and criticism around the project after its launch. In addition, around 1,000 of the NFTs were kept by the NFT creators. They appear to have an inappropriate amount of collectibles, further building on the skepticism. Beyond this, there are claims of some of the NFT artwork being plagiarized.
Last weekend, the project reached its lowest low in sales, at just $21,000, which is down 99% from its $3.5 million peak.
Overall, the NFT market has yet to recover from the bear market that saw the crypto market tank by $2 trillion. NFT trading volumes also fell, during this time, about 98.8%. In January, they were trading at $17 billion to around $250,000 as the year ended.
