If You Invested $1,000 In Trump NFTs, Here's How Much You Made In A Year (And Did You Beat The S&P 500?)
Portfolio Pulse from Chris Katje
Former President Donald Trump's NFT collections have seen significant returns since their launch. The first collection, minted on the Polygon network and sold for $99 each, has appreciated to a value of $3,517.90 from an initial $1,000 investment, a 251.8% return in 12 months. This outperforms the S&P 500's 19.9% return over the same period. The second series of NFTs has not fared as well, with a current floor price resulting in a 35.8% loss for investors. A third 'MugShot Edition' collection has been announced, with a unique physical card component for bulk buyers and restrictions on transfer until December 31, 2024.
December 13, 2023 | 6:39 pm
News sentiment analysis
Sort by:
Ascending
NEUTRAL IMPACT
The SPDR S&P 500 ETF Trust (SPY) is mentioned as a benchmark for comparison, where a $1,000 investment would have returned 19.9% versus the 251.8% from Trump's NFTs. The NFTs' performance could influence investor sentiment towards traditional assets like SPY.
While the SPY is used as a comparison point, the performance of Trump's NFTs is unlikely to have a direct impact on the ETF. However, it may affect investor sentiment and discussions around alternative investments versus traditional ones like SPY.
CONFIDENCE 70
IMPORTANCE 40
RELEVANCE 50
POSITIVE IMPACT
Ethereum was used to purchase Trump's NFTs, and the value of the NFTs is denominated in ETH. The first collection's value has increased significantly, which could draw more attention to Ethereum as a transactional currency for NFTs.
The success of Trump's NFTs, which are priced in Ethereum, could lead to increased interest in Ethereum as a platform for NFTs, potentially impacting its demand and price positively in the short term.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
The Trump NFTs were minted on the Polygon network, which uses the MATIC token. The success of the NFTs could reflect positively on the Polygon network's capabilities and its token's utility.
The minting of Trump's NFTs on the Polygon network and their subsequent success could increase the visibility and perceived utility of MATIC, potentially affecting its price positively in the short term.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 60