Unfortunately, Donald Trump's NFT Price Has Fallen 80 Percent!

The price of Donald Trump's NFT collection dropped drastically. (Photo; Doc. Collect Trump Cards)

JAKARTA - Former US president Donald Trump launched the NFT collection on December 15. The NFT was launched as many as 4,500 items. According to the latest report, Donald Trump's NFT price has fallen sharply by 80 percent.

The base value fell to 0.16 Ethereum (ETH) from its first launch price at the level of 0.84 ETH last week. Based on OpenSea data, 45,000 NFTs are currently owned by 15,115 owners, which is equivalent to a 34 percent unique owner level.

At the start of its launch, Trump's NFT collection was priced at US$99 which was equivalent to 0.083 ETH. According to a statement from its developer, NFT Line, which is part of the NFT International LLC, clearly states that the NFT is not owned, managed, or controlled by former President Donald Trump.

With NFT sales at the first price worth 99 US dollars, the company was able to make 4.45 million US dollars at launch. NFT International LLC also takes a 10 percent cut on each trade, which is equivalent to revenues of more than $1 million, given the current project volume of 7.683 ETH at the time of writing.

According to DailyCoin, days after its launch, NFT Line received strong criticism regarding internal printing, licensing errors, and alleged design plagiarism, in accordance with the timeframe when the base price began to fall. The project features 1000 NFT internally, which includes 68 rare NFTs in collections, and NFTs covering 47 of 179 1/1 and 21 of 70 are signed NFTs.

Previously, the developer announced that NFT buyers had the opportunity to get a prize in the form of dinner in Miami with the 45th former US president. It doesn't stop there, they will also be invited to play golf with Trump.

According to its official website, by purchasing Trump's NFT card, buyers are automatically put in a lottery for a number of prizes. For example, winners can "fill an unforgettable night in Miami for an exclusive dinner organized by Trump," they can "enjoy an unforgettable private meeting with Donald Trump at Mar-A-Lago," or "join Donald on the gridiron for exclusive golf for 1 hour."

However, the site also said no purchases were needed to enter the draw. The announcement of Trump's NFT collection angered many cryptocurrency advocates, as large numbers of people commented on Trump's latest venture through social media.