Trump NFT Sales Soar 3,700% After Mug Shots Released
Date: 2023-08-25 Author: Karina Ziganova Categories: BUSINESS, IN WORLD
Former US President Donald Trump's NFT collections are up more than 3,700% since his surrender to Georgia authorities on August 24.
According to data from Coingecko, the trading volume of the former president's series 1 and 2 collections jumped by about 300% and 3,750% in the last 24 hours to 18.89 ETH ($31,429) and 9.88 ETH ($16,361), respectively.
The increase in sales led to higher floor prices for the collection, with the floor price and market cap of the first collection rising to $313 million and $14.07 million. Similarly, the floor price and market cap of the second collection rose to $50 and $2.3 million.
Meanwhile, this is yet another example of a Trump-related event impacting the value of his NFT collections. Earlier this year, sales of the former President Series 1 collection rose 461% after he was indicted by a grand jury.
President Trump posted a snapshot of a mug at X
On August 24, former President Trump shared a picture of himself on X (formerly known as Twitter), celebrating his return after more than a two-year absence.
The picture of the mug had the caption “INTERFERENCE IN ELECTIONS! NEVER GIVE UP!"
Meanwhile, his post included a link to his website describing his arrest as "a travesty of justice and election meddling." He also said that he had committed "no crime" and encouraged his followers to donate to his cause.
The former president, whose account was permanently suspended in January 2021 over fears of incitement to violence following the US Capitol incident, still enjoys a devoted following. The social media platform has reversed its decision after Elon Musk acquired it last year.
With over 86 million followers, Trump's account remains one of the largest on the platform. His recent post garnered an impressive 126 million views and 1 million likes within 11 hours.
Meanwhile, Trump became the first former U.S. president in history to have a picture taken after he was placed in the Fulton County Jail in Georgia. According to a CNN report, he secured his $200,000 bail by posting 10% of the total and partnering with a local Atlanta bond firm, Foster Bail Bonds LLC.
