Donald Trump’s non-fungible tokens, better known as NFTs, are apparently worth much less than the former president claims, according to sales data assessed by News week.
During Trump’s deposition, which lasted nearly seven hours, in the civil fraud lawsuit brought against him by New York Attorney General Letitia James in April, the former president defended himself to repeatedly claiming that he did not overinflate the value of his net worth.
In September 2022, James sued Trump and three of his children, as well as the Trump Organization, accusing them of “staggering” fraud for overvaluing the former president’s assets and properties. The case is expected to go to trial later this year, as Trump battles several legal cases as he runs for office in 2024.
In the 400-page transcript of April’s deposition released last week, Trump takes credit for single-handedly reviving the NFT market, saying that “a few months ago everyone was saying that NFTs were dead”.
“I did an NFT transaction the other day,” he said. “People are like, what are you doing in NFTs? It sold out in less than a day. It was supposed to take six months,” he added, citing the sale as evidence that he’s sold out. has been “the hottest brand in the world” since he became president in 2016.
Trump then claimed to have sold 45,000 trading cards, which “people paid $99 for.” He added that these same NFTs are now worth much more than their original price, saying they sell for an average of $1,300.
“Some of these cards are now selling for $22, 23, 24,000. And I think the average is around $1,300 per card. So people have made a lot of money. I’m glad they’re Trump people,” he said.
He added that “someone hit the jackpot” by selling his NFTs for $82,000 and $82,100. “I’ll give you the exact number…I’ll check that,” he said. Trump attributed the number of sales to the value of his name as a brand.
The former president said he got into the NFT market “with someone who does this kind of stuff” and added that “we’re going to do another very soon”.
But the numbers he provided during his deposition do not reflect those of OpenSea, an NFT marketplace where users can purchase Trump’s charts. The highest value ever reached by the former president’s original NFTs averaged 0.6782 ETH – the native currency of the Ethereum network, called Ether – on February 13, 2023, which equates to approximately $1,109.
On April 3, the value of Trump’s trading cards was 0.4438 ETH (over $723), while on April 10 it had dropped to 0.3814 ETH ($621.79). On April 17, they were worth 0.1543 ETH ($251.55) and on April 24, they were worth 0.1304 ETH ($218.46).
Trump’s deposition took place on April 13.
In May, News week reported that Trump trading cards plunged to an all-time high of around $1.04.
Right now, according to the website, Trump’s NFTs are valued at 0.1499 ETH, or roughly $245.
The highest ever sale on the platform for an autographed Trump card was in December 2022, for a total of 37 ETH, or the equivalent of $60,000, according to data available on PolygonScan, a blockchain explorer that allows users to find measurements related to the autographed Trump card. Blockchain polygon.
News week contacted the Trump Organization for comment via email on Monday.