The digital trading cards (NFTs) featuring the face of none other than former U.S. President Donald Trump shot up in price following his arrest in Georgia.
How Much Did the NFTs Skyrocket?
The trading volume of Trump’s digital cards experienced a jaw-dropping increase of 177% in the last seven days, culminating in a peak of 24.1 ETH on August 25. As if that wasn’t enough, the floor price also rose by 61%, setting a new bar at 0.19 ETH.
Why was Trump Arrested?
Trump went to jail in Atlanta because he’s accused of doing illegal things to change the results of the 2020 presidential election in Georgia. He says he didn’t do anything wrong and calls it a “witch hunt.” But whether he’s right or wrong, people are now super interested in his digital cards.
Trump’s NFT Odyssey: Heroic or Hilarious?
Last December, Trump cashed in on the NFT craze by releasing 45,000 digital cards, featuring himself in an array of roles—from superhero to NASCAR driver. Sold at $99 a pop, these NFTs were trading at significantly higher prices. Each token was recorded on the blockchain, ensuring its uniqueness and immutability.
A Mugshot and a Viral Explosion
Once arrested, Trump took to X, the social platform that succeeded his Twitter banishment. He posted his mugshot with captions that scream “ELECTION INTERFERENCE” and “NEVER SURRENDER,” along with a donation link. This went viral like wildfire, amassing over 1.1 million likes and 269,000 reposts.
Trump described his brief stay at the Fulton County jail as a “terrible experience,” even saying, “they didn’t teach me that at the Wharton School of Finance.” Nevertheless, he was out within 20 minutes, after posting a $200,000 bond. Yet, Trump faces other allegations and charges that could bring him back behind bars.
Are Trump’s NFTs the New Gold or Just Fools’ Gold?
While the NFTs have experienced a sudden burst in value, it remains to be seen whether this uptick is sustainable or a bubble that will burst faster than Trump can tweet.
So, there you go. Trump gets arrested, his digital cards become a hot item, and the internet can’t stop talking about it.
