February 8, 2025
Donald Trump’s NFTs Price Rise After Indictment – Yahoo Finance – Cryptosaurus

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former President Donald TrumpThe indictment has taken over the news cycle, but there’s more to the story than just its political implications. The price of his non-fungible token (NFT) has skyrocketed since his indictment in late March.
Originally priced at $99 upon release in December 2022, early investors have experienced decent returns so far. Trump’s NFTs were trading at about $748 on March 29, according to data from nftpricefloor.com. But once his indictment became official, the price shot up to $974 on April 1st. This includes record-breaking sales of $1,700.
While Trump’s impeachment appears to be the main driver of the price rise, the regional banking crisis may also have something to do with it. An increasing number of people are investing in crypto- and blockchain-based assets to secure liquidity. For example, the startup market is hot, with companies like Gameflip – a digital asset and NFT marketplace – securing nearly $1 million from investors. And Gamestop CorporationDespite months of sluggish trading, the market is witnessing an increase in volumes.
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With hikes like that, it’s easy to believe that Trump is taking advantage of recent price increases. But the former president isn’t making any financial gains, as all 45,000 of his NFTs were sold within 12 hours of release. About 14,000 people bought these, and many others did so on the secondary market.
The NFT depicts him in various guises such as an astronaut, cowboy, and superhero, and at the time of the project’s announcement, the Trump team was widely mocked by major news outlets and on social media.
However, Trump never stopped short of the project, explaining to One American News Network (OAN) in December that his NFT collection was entirely about art and not earning any financial profit.
“You know, it’s kind of comic book art when you think about it, but they showed me the art and I said, ‘Gee, I’ve always wanted a 30-inch waist,’” he said.
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“I’m looking at this stuff and saying ‘Wow, this is so cute, this could sell, this could sell.’ They thought it would sell out in six months, it sold out in six hours.
The indictment coincided with the banking crisis, making it a perfect storm for Trump’s NFT collection. Only time will tell what happens next, but with limited supply and a lot of die-hard fans, it’s likely that prices will remain high for the foreseeable future. This is especially true as Trump is expected to remain in the news cycle until the 2024 election – and possibly beyond.
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Many have speculated that the indictment could be a positive for his re-election campaign in 2024. Trump has turned the incident into a martyr of sorts, and it is an open attack on democracy, among many other narratives. Regardless, the incident could jolt his voting base, resulting in a possible ‘red wave’ in an election year. This puts him back in the spotlight, giving him the chance to appear in front of an audience to tell his story. This jump in the price of their NFTs may be an indication that this is true.
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This article prices of Donald Trump’s NFTs soar after indictment originally appeared on Benzinga.com
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