Non-fungible tokens (NFTs) related to former U.S. President Donald Trump have experienced a significant price surge, with a 30% increase in ether-denominated value within the past week.

According to a CoinDesk report by Shaurya Malwa and Sam Reynolds published earlier today (March 23), this price surge comes amid news of a possible indictment and arrest of Trump. As detailed in the CoinDesk article, Polygon-based Trump Digital Trading Cards are now trading for over 0.59 ether (ETH), up from 0.33 ETH just a week ago. OpenSea, an NFT marketplace, has recorded over 735 Trump NFTs sold during this period, generating 401 ether in trading volume.

Source: OpenSea

The article links the rally in NFT prices to reports of Trump’s potential arrest, initially reported by Fox News on March 17. The specific charges remain unknown and will only be revealed when Trump appears in court. However, the article cites speculation that the charges could be connected to a hush money payment made to adult actress Stormy Daniels during the 2016 election. The New York Times is referenced in the article, suggesting Trump might also face charges regarding classified documents he illegally kept at Mar-a-Lago and false statements made about the issue.

The NFT collection, which features 45,000 unique images of former U.S. President Donald Trump, was launched in December 2022. Trump talked about these NFTs during an interview on One America News (OAN) show “Weekly Briefing With Chanel Rion.”

Trump said:

Well, I knew nothing about them, and then a group came. And I loved the art. They showed me the art… it’s comic book art when you think of it, but they showed me the art, and I said I always wanted to have a 38-inch waist, but I’m looking at this stuff, and I am saying, ‘that’s sort of cute, that might sell.’

They thought it would sell in six months; it sold in six hours. And it set like a record, I understand. It’s been incredible. You know, if you bought a card for $99, I guess it’s much, much higher than that. And I heard the Wall Street Journal or somebody say it was the investment of the year.

I was criticized, really criticized, when it was announced… I didn’t view it as [an] investment… I thought they were cute. I mean, for $99, you’re getting these visions that are very beautiful and interesting, I think. And I viewed it that way, much more so than as an NFT, but NFT was very hot two or three years ago, and then it cooled down…

So, when they announced it’s NFT, everyone said, ‘what’s he doing that for? That’s so cold.’ And I did it, and I guess it was one of the most successful, maybe the most successful, but it was certainly in terms of speed. The whole thing was sold out almost immediately. Pretty amazing!

Image Credit

Featured Image via Pixabay