Politically Themed Crypto Market Capitalization Plummets to IDR 6.4 Trillion

Previously, the Non Fungible Token (NFT) Collection of former US president and current presidential candidate, Donald Trump, was a hot topic in the crypto market. Launched on August 27, Trump’s fourth NFT collection has reached more than 22,000 sales via the Polygon network in just one day.

As reported by Coinmarketcap, Friday (30/8/2024), extraordinary sales through the Polygon network reached USD 2.17 million or equivalent to IDR 33.4 billion (assuming an exchange rate of IDR 15,464 per US dollar), with each NFT priced at USD 99.

The initial sale only accounted for 6% of the total 360,000 NFTs. With the NFTs yet to be released on the secondary market, which is delayed until 2025, the entire collection has the potential to earn $35 million.

Donald Trump previously announced on his Truth Social platform on Tuesday the release of his fourth series of digital trading cards, titled “The America First Collection.” He said the new series of non-fungible tokens (NFTs) was launched due to popular demand.