Trump NFTs Generate Over $1.2M in Trading Volume
The latest round of digital non-fungible token (NFT) trading cards have dropped, featuring former US President Donald Trump. Polygon minted 38,001 cards, which were launched at a price of $99 each on April 18. According to data from NFT marketplace OpenSea, the Trump NFTs currently have a floor price of 0.0659 ETH ($145) and have generated over $1.2 million in trading volume. With a 10% creator fee, the sales have generated over $100,000. The initial subscription generated $3.76 million in revenue based on a sale price of $99.
Posting on Instagram, Trump revealed that he kept the price of the NFTs the same as the first series "because I want my fans & supporters to make money, & have fun doing it." He added, "I could have raised the price MUCH HIGHER, I believe it still would have sold well, with a lot more money coming to me, but I didn't choose to do so. I WILL BE GIVEN NO 'NICE GUY' CREDIT?"
The initial series, which was launched on December 15, has seen its floor price drop by 61% in the last 24 hours according to OpenSea, although the trading volume has increased by 1,011%.
In other news, Big Tech firm Meta has allowed teens from the US and Canada to use its virtual reality (VR) app, Horizon Worlds, after previously restricting access to people aged 18 and over. The decision follows a shortfall in monthly active users for the app in 2022, recording an average of just 280,000 over the year, compared to its target of 500,000, according to Statista. However, various advocacy organizations and safety groups have urged Meta CEO Mark Zuckerberg to halt plans to allow minors into its metaverse. An open letter published on April 14 argued that Meta should wait for more peer-reviewed research on the potential risks of allowing youths in the metaverse, claiming minors will face harassment and privacy violations on the VR app, which is still in its early stages. Meta has attempted to address these concerns by emphasizing its plans to mitigate risks through features such as parental supervision tools and limiting interactions between teens and adults they don't know.
Global sportswear brand Nike also entered the NFT market, launching its first collection through its Web3 community platform, .SWOOSH. The collection features a digital version of its "iconic" Air Force 1 sneaker from 41 years ago. The Polygon-based NFTs are priced at just under $20 and are available to all .SWOOSH members. According to Nike, the NFTs will provide a range of perks such as "special access to physical products and experiences." Nike added that it will "introduce other new utilities and benefits" to its virtual creations in the near future.