The price of former President Donald Trump’s non-fungible tokens (NFTs) has continued to rise since they were first launched on Thursday and the value of the total collection has now passed $2 million.
The floor price for Trump’s NFTs was listed as 0.282 Ethereum early Saturday morning, according to popular NFT trading site OpenSea. That’s around $330.
Saturday’s price reflects a considerable rise in value for Trump’s NFT trading cards in the days since the product was first launched as part of what the former president referred to as a “major announcement.”
On Friday, New York Times bestselling author Maxmilian Uriarte shared a screenshot to Twitter from OpenSea late on Thursday showing the floor price for the NFTs was 0.078 Ethereum. The products had initially been offered for $99, which is around 0.084 Ethereum as of Saturday morning.
The NFTs quickly sold out and Newsweek reported on Friday that their price had almost doubled on the secondary market. The price was 0.16 Ethereum, around $190, and it has continued to rise in the hours since the report.
At the time of publication, the total volume listed on OpenSea for the Trump collection of NFTs was over 2,400 Ethereum, which has a value of more than $2.8 million.
Though Trump has been mocked for his NFT collection, the steady rise in price may be enough to convince the former president the venture has been a success so far.
Trump had teased a “major announcement” that he was planning to make on Thursday that led to widespread speculation among both supporters and critics.
Some speculated that he would launch a new lawsuit, announce his choice of running mate for 2024 or even declare his intention to seek election as Speaker of the House of Representatives.
“WE MADE HISTORY!” the former president wrote on his Truth Social platform on Friday after the NFT collection sold out in a day. “My Trump Digital Trading Cards sold out in hours. Congratulations to the collectors. Thank you.”
However, Trump’s “major announcement” also had its share of critics.
Conservative commentator Ben Shapiro argued that the move “almost completely craters his presidential campaign before it even gets off the ground.”
“The former president of the United States, a man who is the presumptive front runner jumping into the race, doing this is cringe-worthy,” Shapiro said on The Ben Shapiro Show. “When you say you have a major announcement and what you actually drop is what appears to be an NFT money grab…On every available front, it’s maybe the dumbest politics I’ve ever seen. It’s just…it’s painful, it’s painful.”
Trump formally announced his intention to seek another term in the White House shortly after the November midterm elections. So far, he’s the only major party candidate to do so.
Newsweek has asked Trump’s office for comment.
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