Indictment Doesn’t Stop Trump Cards or NFT Market from Posting Strong Numbers
It’s been an eventful week in the world of digital collectibles, with both Trump NFTs and the NFT market in general making headlines. Despite recent legal troubles, sales of Donald Trump’s official digital trading cards have spiked dramatically, with Opensea reporting a surge of more than 400% in a single day following news of his indictment. The collection, which features thousands of tokenized cards depicting the former president as various masculine characters, has attracted almost 14,000 owners, though prices have since returned to more normal levels.
Meanwhile, a report from Dappradar shows that the overall NFT market has had a strong first quarter, with trading volume expanding by over 137% to reach a staggering $4.7 billion. Although March saw a dip in sales, this is still the highest increase in trading volume since Q2 of 2022. Interestingly, Q1 was also the first quarter where Opensea did not dominate the market, with new players entering the fray and changing the dynamics of the industry.
Overall, it’s clear that the world of digital collectibles continues to evolve and adapt. Despite recent legal controversies, the Trump NFTs have seen a surge in popularity, while the NFT market as a whole has shown remarkable growth in Q1 of 2023. It will be interesting to see how this trend develops in the coming months and years, as new players enter the market and the competition heats up.