Trump NFT Prices Nosedive, Then Soar, as SNL Skewers Them

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Despite widespread derision for a big announcement from former US president Donald Trump that was the launch of an official NFT collection, the Trump Digital Trading Cards nevertheless caught the attention of traders.

The collection increased in trading volume after it was launched on Thursday, to 5,548 ETH or more than $6.5 million as of Sunday morning, according to OpenSea. The project currently sits on the OpenSeas homepage as the top-trending project.

However, the price of Trump Digital Trading Cards has been volatile over the past day. The projects floor price reached 0.84 ETH or about $990 on Saturday before falling as low as 0.32 ETH or about $376 early Sunday morning.

The price of the cheapest Trump-branded NFT has since rebounded slightly, rising to 0.490 ETH or about $577, on OpenSea as of this writing.

Digital collectibles entered the cultural spotlight on Saturday night as the subject of mockery on the late-night comedy show Saturday Night Live. Last night’s episode opened with a skit from comedian James Austin Johnson, who mimicked the announcement of former presidents unveiling digital collectibles.

It seems like a scam and in many ways it is but we love Trump cards, said Johnsons description of Trump, referring to NFTs by their technical term as Nifties.

Johnson referenced the ongoing investigations surrounding Trump, such as his alleged mishandling of classified information, during the comedian’s teasing promotion of digital collectables.

The best part is, each card has an automatic chance to win an exclusive mystery prize where you can get anything from this beautiful box, he said, holding a box full of labeled papers. which is CLASSIFIED.

The show also poked fun at the content of the NFTs from the collection, which Trump described as depicting scenes pertaining to [his] alive, like him in a spacesuit, camouflage hunting gear, and a cowboy duster.

Remember, when you buy a card, you don’t get to choose which one you get; “It could be me on the cover of a romance novel, or I’m doing splits, I’m doing Titanic, or even I’m Jessica Rabbit,” Johnson said.

Later on the Saturday Night Lives Weekend Update show, comedians Colin Jost and Michael Che also ripped into the project. Jost pointed out the unusual timing of the launch of the NFT collections.

It was a funny move to get into NFTs after the whole market had crashed, he said. It’s like getting into Kanye now, which Trump did too.

Trump Digital Trading Cards have also been the subject of humor on other late night television shows, such as Late Night with Seth Meyers, The Tonight Show Starring Jimmy Fallon, Jimmy Kimmel Live!, and The Late Night Show with Stephen Colbert .

The former president of the United States, once the most powerful man in the world, has launched a line of trading cards, Colbert said on his show the day Trumps project was revealed. It’s the least noble attempt at post-presidential merchandising since the launch of Tickle-me-Truman.

The NFTs collection consists of 45,000 individual collectables and was originally priced at $99-each, but the individual NFTs have sold for a lot more since they sold out less than a day after they launched.

A 1-of-1 NFT from the collection sold for an eye-watering 37 ETH or about $43,600 on Saturday, according to polygonscan. The NFT featured a monotone image of Trump in a tuxedo posing in front of a staircase, accompanied by a signature of the former president.

The fine print of the projects states that 10% of secondary sales on Trump Digital Trading Cards will be directed to NFT International, the company that bought the right to use Trumps likeness for the project, according to CollectTrumpCards.com.

Skeptics of the project on Reddit are warning those interested in buying one of the collectible projects to STAY AWAY, saying 1,000 or about 2% of the digital trading cards are held by a wallet, which apparently receives royalties . This suggests that there is a large number of items still held by the creators of the projects, and they could theoretically tank the value of the projects if all NFTs were sold at once.

1/ Turns out Donald Trump minted a thousand of his own nfts in his vault wallet

Keeps a giant chunk of the rarest nfts in his collection for himself

The 2nd minted nft is a rare 1-of-1, the chances are … pic.twitter.com/3m0MQGQydp

OKhotshot (@NFTherder) December 17, 2022

Some Twitter users also honed in on the visual elements that used the NFTs belonging to Trumps collection, looking for watermarks from stock images. One user pointed out that an NFT of Trump in a flight suit had remnants of a watermark from a Shutterstock image and another had part of a watermark for stock photos from Adobe.

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