The eager Trump supporters who snatched up his NFT trading cards have found themselves in a financial blackhole, as the cards have now lost roughly 99% of their value from the purchase price. Thanks to a sudden dive, the cards that were purchased for about $100 a piece are now worth about $1.04, according to Crypto trading sites and the groups that back them. This means that those cards are effectively worthless right now, but what did these buyers think would happen? Farron Cousins explains what’s going on.
Link – https://www.newsweek.com/donald-trump-digital-trading-card-price-cryptocurrency-nft-1800585
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*This transcript was auto-generated. Please excuse any typos.
On several different occasions over the last year, Donald Trump has released a series of N F T non fungible token Digital trading cards, trading cards that have depicted him as a, uh, rockstar, playing an electric guitar while riding a motorcycle, pictures of him as an astronaut, pictures of him. What else do we have? Uh, servant burgers and hotdogs at a barbecue. Um, one as a king on a playing card and various other things that Donald Trump the loser would never in his real life actually be able to do. So they put out these fake cards trying to make him seem like he’s cooler that he is, and they sold any, each and every one of them for $99 a piece. And Trump made millions of dollars off of it. Like immediately. These things did sell out very quickly because of fooling their money or soon parted. Well, something very interesting happened with those NFTs this past weekend, because on Saturday, the value of those NFTs dropped to $1 and 4 cents a piece, a 99% loss in value for these Donald Trump NFTs.
Now, it’s important to point out that Donald Trump, once he sells them to these people, he is in no danger of losing money. He sold them. He does not have them anymore. He got his millions. He’s just fine. It’s the idiots that purchased them, that watched on Saturday as these things went from being traded at about $200 to being worth a dollar, a single dollar. You paid a hundred dollars for this thing that is now worth just $1, which might be a worse investment than in Ron Stock at this point. But don’t worry, don’t worry folks. Things bounce back a little bit. But overall, these NFTs have dropped from a high in February of close to $1,400 a piece while trading on the NFT market. Um, and now they’re back down to between a hundred and $200. Um, so they’re no longer worth just a dollar, but they’re really not actually worth any more than these individuals traded or, or paid for them, excuse me.
They’re trading actually below the value, even though they’re valued, again, between 100 and 200. Most offers for them on the N F T market are lower than a hundred dollars. So, as I said, a fool in their money are soon parted. But here’s the kicker on this entire story, even though over the weekend they dropped down to a dollar and they have, you know, rebounded since then, Trump will do it again because there’s no risk in it for him at all. He’s not investing in it. You know, the money he gets is not tied to how these things are trading online. He
Sells the thing, he gets the money, he’s outta that transaction completely. It’s the morons who go out there who don’t have money to spend on these things, but they do it anyway because they believe they’re supporting Donald Trump. They’re the ones losing everything. And I do sometimes teeter totter back and forth between actually kind of feeling bad for these folks and wanting to also laugh at them for being such gullible morons, because let’s face it, that is what they are. We gotta be real about this, folks. We can’t sugarcoat it. I’m not trying to bring any of them over to my side. They’re terrible people and I don’t wanna be, uh, allied with them. So I guess I’m really not teeter tottering all that much. It’s sad that some of the folks buying these things don’t really have the money to spend on ‘em, but they do it anyway. That sucks for you personally, financially. But at the same time, if you haven’t caught on to the fact yet that Donald Trump is ripping you off, that he is nothing more than a two bit conman, then I’m sorry, but you deserve all the financial discomfort that comes along with falling for his cons over and over and over again.
