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I'm reading about the new Trump NFT series on Bitcoin, and honestly, it looks more interesting than previous editions. The Trump Bitcoin Digital Trading Cards collection has just been launched on Bitcoin via Ordinals, available on Magic Eden. In the first batch, there are 160 pieces, and nearly 30% of the collection has already been issued. That's a significant move for the NFT market, which has been recently stagnating.
It's worth remembering that Trump had previous NFT collections, such as those from the America First series last year. But those NFTs had almost no trading activity despite all the buzz. Now, this Trump NFT project on Bitcoin Ordinals seems to attract attention differently. Maybe it's because Bitcoin Ordinals is something new, or perhaps the market is just changing.
Overall, the NFT market in 2024 has revived — revenues reached $8.8 billion. Bitcoin and Ethereum led the way, each with $3.1 billion. But there's a catch — most NFT collections are dead projects. 98% have zero activity, and 99.8% of new releases are at a loss. Collections like Pudgy Penguins make billions, but those are exceptions.
Interesting to see whether this Trump NFT on Ordinals will be different or end up like the previous ones. Maybe Bitcoin is really changing the game? What do you think — is this hype or a genuine shift in the market?