Donald Trump, the former president of the U.S., saw an increased interest in his NFT collection after being arrested and charged at a Manhattan court. Reports suggest that Trump Digital Trading Cards sold 47 tokens within 24 hours of his arrest marking, an increase of over 400%.
The trading volume for the billionaire's Trump Digital Cards collection has increased astronomically by more than 220%. Reports from some news outlets maintain that sales of $75,000 worth of Trump NFT were recorded within a day!
As the number of sales of transactions went up, the collection's price witnessed a similar occurrence. Over 60 consumers bought the tokens within half a day, and a 4.3% increase left its cheapest NFT priced at 0.47 ETH, which is currently the equivalent of $908.
Ironically, Trump used to be a loud disparager of crypto, most significantly, BTC. "I am not a fan of Bitcoin and other cryptocurrencies, which are not money, and whose value is highly volatile and based on thin air," he famously tweeted back in 2019. Barely three years later, in 2022, he launched his personal NFT collection.
His collection has been so successful lately that someone who went by "paraguanads.eth" purchased a card with Trump holding a rifle, draped in an orange hat for 0.687 ETH (the equivalent of $1,333). In addition, Trump's accomplishment further boosted the overall NFT market capitalization by 7% to 21,150 ETH.
The Trump Digital Cards, minted on Ethereum and Polygon, and released in 2022 for $99 each, didn't take long to get sold out. They also came bearing gifts, as buying 45 NFTs enables customers to meet him for golf or dinner at the Mar-a-Lago club he owns.
However, how did all of these come about?
Donald Trump, who is the first ex-American president to be charged to court, was criminally indicted in New York over 34 felony cases for allegedly forging business records. He argued his innocence and pled not guilty to the allegations.
He allegedly fabricated business records over hush-money payments involving him and an ex-porn actress, Stephanie Clifford, also called Stormy Daniels. Trump was said to have been in an extramarital affair with her, who asserted that they were once in a sexual relationship as far back as 2016.
This occurred during the 2016 presidential campaign, and knowing fully well that this could hurt his ambitions, he decided to settle her quickly and quietly. His lawyer, Michael Cohen, paid Daniels $130,000 for her to sign a non-disclosure agreement (NDA) that prevented her from publicly speaking about the matter.
Incidentally, Cohen pleaded guilty to an excessive campaign charge in 2018. He further disclosed that he made this payment on behalf of Trump, who was aware of and ratified it.
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