Former President Donald Trump’s recently launched NFT is trading 80% below its peak. The minimum price of the collection dropped from a peak of 0.84 ETH to 0.19 ETH in less than two weeks.
Meanwhile, it’s not just floor prices that are falling. Daily sales are down 99% from peak. This indicates that momentum is waning.crypto slam data shows that sales in the last 24 hours have dropped 39% from 170 transactions to $45,570. Weekly sales volume he dropped 94% and is now over $386,170.
Despite the drop in value, the NFT is still trading above its $99 purchase price of 0.083 ETH. So early buyers are still green.
Donald Trump’s NFT comes under a lot of criticism
Since its launch, the project has attracted a lot of people criticismOne of the criticisms was about internal casting. On-chain analyst OKHotshot revealed that he created 1000 of his NFTs in-house before launch.
The project’s FAQ included this, but the main problem was that some of the rarest NFTs were made by their creators. 26% for 1/1 NFT, 28% for signed NFTs Forged by the creator.
Additionally, there is some dispute as to the origin of the artwork used for the NFT. The collection claims they are hand painted. but, twitter thread Matthew Sheffield has shown that many of the NFTs come from photoshopped images.
Who owns the NFT collection?
The company’s marketing suggests that Trump is the owner, even though the official website states that Trump is not the owner of the company that issued the NFT. Said it was his official collection.
NFT International LLC launched its 45,000 NFT collection on December 15th. Each NFT is $99. It sold out quickly, and the company made his $4.5 million from the sale, along with a 10% creator fee.
The company behind the collection says it is not owned, “managed, or controlled” by the former president, but the use of Trump’s image suggests that the former president had some connection with the project. suggests.
BeInCrypto has reached out to the companies or individuals involved in the story to obtain an official statement regarding the recent developments, but has yet to hear back.