Trump’s NFT sales spike post his New York indictment:
As per CNBC TV18, sales of Donald Trump’s non-fungible tokens (NFTs) surged after he was presented in Tuesday’s court appearance in New York City. He became the first former US president put under trial and arrested on the grounds of certain criminal charges in the history of the country. He surrendered in connection with the USD 1, 30,000 hush money payments after being put on trial in court on Tuesday. This hush money was sent to porn star Stormy Daniels and some others just before the US presidential election in 2016, to hide an alleged affair.
Over 6 hours or more, a collective amount of Trump Digital Trading Card holders sold around 47 tokens which is about a 462% surge, as per OpenSea data. Yet, it is still only a relatively miniature amount of activity for NFTs. In these 6 hours, Nakamigos which is one of the leading trending collections had 1,286 sales. Trump’s series of digital collectables was released in December. Buyers for an amount of $99 could only own a token featuring his likeness and enter a sweepstake to get rewarded with exclusive experiences.
The collection quickly ran out on the secondary market with more than doubled in price. The steady floor price, however, stayed at 0.5 ether (ETH) which is about $930.the Trump Digital Cards mint associated with the NFTs representing sweepstakes prizes experienced zero sales in the last six hours.
Trump’s arraignment happened in a court in New York in Manhattan under heavy security guards and huge media pressure. Live news could witness heavy crowding outside the court. These arraignments were public proceedings but were restricted from getting broadcasted in newly installed cameras from inside the courtroom, according to the reports submitted by CNN. In front of 34 felony counts, Trump Pleaded not guilty to falsifying business records and conspiracy against his alleged charges in the hush money payments. The media could see him leave the court after a long duration of questioning and trial for an hour.
The charges were levied on him regarding a series of payments that he had made from August 2015 to December 2017; they were recorded as false business entries. One of these payments highlights American Media Inc’s (AMI) payment of $30,000 to a former Trump Tower doorman, who later claimed to have a story about a child Trump had out of wedlock. A woman also received a payment of $ 150,000 from AMI who alleged that she was involved in a sexual relationship with Trump.
Just 12 days before the US presidential election, Trump’s special counsel wired $130,000 to an attorney for an adult film actress whose amount was reimbursed through the Donald J Trump Revocable Trust by Trump and from his bank account. The next hearing date for this case in scheduled on 4th December 2023. The live news updates from his arraignment claim that he completely decried charges against him and further puts accusations on radical left lunatics of election interference. He gave a 25 minutes speech in Florida where he declared this stating that the country is going to hell. He also claimed that it was a fake case brought only to interfere with the upcoming 2024 elections and must be immediately withdrawn. The 9th Circuit Court of Appeals has ruled that porn star Daniels must repay him $120,000 in legal fees to Trump.