Donald Trump NFT Collection Sells Out, Price Surges

coindesk.com

11 points·PaulHoule··9 comments

I was talking w/ some people in the finance industry this morning about "whither crypto" and my take was that the animal spirits are not gone.

I'd love to say that NFTs have been thoroughly destroyed and mock anyone who is getting involved now. You might come to that conclusion based on volume, which has collapsed, but prices have not collapsed that precipitously so far. People haven't yet lost enough money on crypto that they're going to give up.

If you're holding maybe you don't think you've lost money yet - but you spent a bunch of money on 0s and 1s and no one is going to buy those from you.

It’s hard to say but with low volumes you don’t ow if it is a real price.

If somebody decided their NFT was worthless they could burn it or sell it for almost nothing and declare a loss they can write off on their taxes. If you bought a bored ape for $100,000 you could get $15,000 or more in tax write-offs. When people have really given up on NFTs you will see tax loss harvesting.

Well that's depressing.. Honestly NFT's in general feels like the grift that keeps on giving.

Faith in humanity: destroyed.

For all we know, he purchased them himself.

Anyone know of the full count? Was it 45k cards at $99 each?

The success of any initial offering will lead to long term dilution. If Donal Trump believes he can mint money from the sky - then he will do that until this grift ends.

I don't I know I think it's kind of neat. Obviously this stuff is worthless but if people want it then who cares. Let them collect Donald Trump trading cards if they want to.

What about it do you think is kind of neat?

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