Donald Trump’s mugshot sparked a surge in sales of his NFT collection
On August 25, all the headlines were full of a mugshot (official prison photo) of Donald Trump. Then the former President of the United States was taken into custody in the Fulton County jail, where he arrived to surrender to local authorities in the case of interference in elections in the state of Georgia. The arrest was of a formal nature – he was immediately released on bail of 200 thousand dollars for the period of the case in court. This was the first time in history that a head of state was photographed during his arrest.
https://t.co/MlIKklPSJT pic.twitter.com/Mcbf2xozsY
— Donald J. Trump (@realDonaldTrump) August 25, 2023
But something else is interesting in this case: this news led to a surge in sales of his official NFT collection of Trump Digital Trading Cards.
For the last 7 days:
- Sales increased by more than 170% (now it is 40 ETH),
- The number of sales increased by more than 120% (now it is more than 240),
- Floor price increased by more than 55% (now it is about 0.17 ETH).
This event was reinforced by the return of Donald Trump to Twitter (now X), where he was previously blocked until the acquisition of the social giant by Elon Musk. In addition, it turned out that the former US president is also optimistic about cryptocurrencies, and his crypto wallet contains more than $2.8 million in ETH. And according to analysts, the upcoming 2024 US elections will determine the future of digital assets in politics.
What conclusion can be drawn from this? The NFT market, as well as the cryptocurrency market, is highly volatile and directly proportionally depends on newsbreaks, especially with the participation of world-famous people. Therefore, the plan to promote any NFT project must necessarily include influencer marketing, thanks to which the public will be aware of the project, and newsworthy events will stir up interest.
