As a researcher delving into the fascinating world of digital assets, I recently came across the exciting debut of Donald Trump’s inaugural collection, titled “Trump Bitcoin Digital Trading Cards.” This innovative series was unveiled on the Bitcoin network, employing the Ordinals protocol to release an initial batch of 160 unique pieces.
As an analyst, I’m sharing that individuals who have procured exactly one hundred pieces from the “Mugshot Edition” can redeem these digital assets by connecting their Bitcoin wallets on the vibrant NFT trading platform, Magic Eden.
Trump’s NFT Collection is Available on Magic Eden
Trump unveiled his NFT collection for the first time back in January 2024, which comprises of 200 cards initially, with an additional 40 pieces planned to be added later on. This represents Trump’s inaugural venture into NFTs on Bitcoin, although he has previously engaged in other NFT-related activities.
Previously, his offerings encompassed “Trump Electronic Collectible Cards,” showcasing various series, including the “America First” set launched in August 2024. This particular collection came with benefits such as limited edition golden athletic shoes and dining experiences with Trump.
Although there was initial enthusiasm, the “America First” collection hasn’t generated any trades so far. The sales of other NFTs linked to Donald Trump have similarly shown unpredictable results.
On the other hand, the recently unveiled NFT series tied to Bitcoin Ordinals appears to be following a unique trend. Currently, approximately one-quarter (29%) of the entire collection has already been minted.
2024 saw the Non-Fungible Token (NFT) market reach a staggering $8.8 billion in sales, marking an impressive increase of $100 million compared to 2023. Leading the pack were Ethereum and Bitcoin with impressive sales figures of $3.1 billion each. Solana claimed the third spot in this thriving industry.
In the realm of digital collectibles, it was predominantly collections such as Pudgy Penguins that held sway, raking in a staggering $115 million in revenue. Additionally, groundbreaking ideas emerged from platforms such as Magic Eden and Pudgy Penguins, both of which rolled out their own tokens.
OpenSea, the leading NFT marketplace, is rumored to follow suit by launching a token in 2025.
Nevertheless, obstacles remained unresolved. Kraken temporarily closed its NFT marketplace in November, focusing on other initiatives instead. Users were granted until February 27, 2025, to retrieve their assets.
As a crypto investor, I’ve been keeping a close eye on the market, and one issue that stands out is the potential oversaturation. It seems that an overwhelming 98% of NFT collections aren’t seeing much trading activity at all. The success rate for new releases is abysmally low, with only 0.2% proving to be profitable. To make matters worse, most collections are losing more than half their value within just a few days. It’s a tough market out there right now.
2024’s late period hinted at revival in the Non-Fungible Token (NFT) market, but underlying concerns suggest a decrease in speculative transactions.
The latter part of 2024 indicated a rebound for the NFT market, but deeper problems predict a fall in speculation-driven trading.
Or simply: In late 2024, we saw signs of recovery in the NFT market; however, broader problems indicate a drop in speculative trades.
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2025-01-09 04:44