Recently launched NFTs of former US President Donald Trump are trading 80% below peak values. The minimum price of the archive has fallen from a peak of 0.84 ETH to a low of 0.19 ETH in less than two weeks.
Meanwhile, it is not only the bottom price. Daily sales are also down 99% from the peak. This shows that momentum is being lost. cryptoslam Information Shows that sales are down 39% from 170 transactions to $45,570 in the last 24 hours. The one week sales volume has dropped by 94% and is currently at over $386,170.
Despite its drop in value, the NFT is still trading above the purchase price of $99, which is approximately 0.083 ETH. Hence, early buyers are still in the green.
Donald Trump NFT heavily criticized
Since its launch, the project has attracted many criticisms, One of the criticisms was on internal mining. On-chain analyst OKHotshot revealed that 1000 NFTs were internally mined ahead of the launch.
While the project FAQ covered this, the major issue was that the rare NFTs were part of those that were created by creators. 26% of 1/1 NFT and 28% of signed nft Made by the manufacturer.
Additionally, there are controversies regarding the source of the artwork used for NFTs. The collection claims that they are hand drawn. but a twitter thread Many NFTs come from photoshopped images, as shown by Matthew Sheffield.
Who owns the NFT collection?
Despite the official website stating that Trump is not the owner of the company that issued the NFTs, the company’s marketing suggests that Trump is the owner. The former President also called it his official collection.
NFT International LLC launched the 45,000 NFT collection on December 15, with each NFT going for $99. It quickly sold out, with the company earning $4.5 million from sales while also receiving a 10% manufacturer’s fee.
Although the company behind the collection says it is not owned, “managed or controlled” by the former president, the use of the Trump image suggests that the former president has some affiliation with the project.
BeInCrypto has reached out to the company or the person involved in the story for an official statement regarding the recent development, but has yet to hear back.
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