NFT noobs strike gold after Trump assassination attempt. Read CoinChapter.com on Google News
YEREVAN (CoinChapter.com) — Following a failed assassination attempt on former U.S. President Donald Trump, the market for his NFT collectibles surged. The floor price for Trump Digital Trading Cards on the Polygon network jumped to 933 MATIC ($502), according to data from multiple NFT marketplaces.
Just days earlier, these NFTs were trading at about $228 each.
New traders entered the NFT space, eager to benefit from the sudden demand. The hype has since cooled, with the floor price now at 799 MATIC ($431), but the event had a significant impact on the market.
Trump NFT Trading Frenzy. Source: Magic Eden
The second series of Trump Digital Trading Cards increased by 20%, reaching 163 MATIC ($233). These NFTs, released in April 2023, feature Trump in various heroic and fantastical scenarios.
The first edition, offering perks like potential meet-and-greet opportunities with Trump, maintained interest despite initial mixed results.
Trump Assassination Attempt Shakes Crypto Market
The attempt occurred during a campaign rally in Pennsylvania. A 20-year-old shooter targeted Trump but failed. The shooter was killed at the scene. This event not only affected Trump’s NFTs but also shook the broader crypto market.
Bitcoin rose by 5.5%, reaching $62,450, its highest point in two weeks. Trump-inspired meme coins also surged. On Polymarket, a blockchain betting platform, the odds for Trump’s re-election bid increased to 71%.
Trump Leads Presidential Betting Odds. Source: Polymarket Newcomers Flock to Trump NFTs Amid Price Surge
The spike in Trump NFT prices attracted many new participants, often called “NFT noobs.” These newcomers saw an opportunity for quick profits, driven by the assassination attempt and media coverage.
For many, this marked their first venture into the NFT market. The price increases and the high-profile nature of the event made Trump’s NFTs a popular topic for speculative trading.
Trump on Crypto Business Future. Source: Malcolm @macdegods
Trump has appealed to crypto holders throughout his campaign. In May, he began accepting crypto donations after showing his support for cryptocurrency at a Mar-a-Lago event for his NFT collection holders. This connection between Trump and the crypto market increased interest in his digital collectibles.
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