March 27, 2023
By Sharan Kaur Phillora
The value of former US President Donald Trump’s non-fungible tokens (NFTs) has seen a remarkable surge of over 30% within the past week, overlapping with speculation about his potential indictment and arrest.
Here’s what we know:
In December 2022, Trump unveiled a series of 45,000 digital trading cards, priced at $99 each, depicting himself in a manner akin to collectible baseball cards.
Each collector that purchased these NFTs was automatically entered into a “sweepstakes,” where they could win exclusive experiences with Trump, such as a Zoom call, a dinner in Miami, or a cocktail hour at Mar-a-Lago.
OpenSea data reveals that the Trump Digital Trading Cards have reached a floor price of more than 0.53 ETH, up from the previous week’s value of 0.33 ETH. During the week, more than 735 Trump NFTs were traded, growing its trading volume to 405 Ether (ETH).
The increase in NFT prices aligns with news reports about Trump’s potential indictment. On March 17th, Fox News reported that the former president might be facing charges in the near future, with the specific allegations to be revealed when he appears in court.
Some news portals claim the charges could be tied to a hush payment made to adult film star Stormy Daniels during the 2016 election campaign.
The New York Times points out that the incident may lead to two charges: violations of campaign finance law and falsification of business records, as the payment was logged as legal fees to Trump’s lawyer.
If found guilty, Trump could be sentenced to a maximum of four years in prison, although experts suggest that proving the case might be challenging.
The New York Times also reports that Trump may face potential charges tied to the January 6th Capitol Hill riot and additional charges related to illegally possessing classified documents. If indicted, Trump would be the first US president to face such charges.
About the author
Sharan Kaur Phillora’s thirst for knowledge has led her to study many different subjects, including NFTs and Blockchain technology – two emerging technologies that will change how we interact with each other in the future. When she isn’t exploring a new idea or concept, she enjoys reading literary masterpieces.