2 months ago 3 min read

Trump NFTs Surge Indictment, Q1 Trading Volume Reaches $4.7B

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The total NFT market trading volume in the first quarter was $4.7 billion, more than doubling the previous quarter, while Square Enix released Final Fantasy trading cards that cannot yet be traded.

Following the announcement on March 30 that a New York Grand Jury had voted to indict former President Donald Trump, the floor price for the officially licensed Trump Digital Trading Cards nonfungible token (NFT) project skyrocketed.

The announcement appears to have prompted NFT traders to act, with the floor price rising from 0.46 Ether to 0.47 Ether. At current prices, ETH tickers are down $1,822 or $835, but have reached as high as 0.6 ETH ($1090) on the same day.

It's worth noting that when the project first launched in December, it offered certain NFT hodlers exclusive one-on-one experiences like private golf sessions, dinners, and conversations with Trump.

Given the indictment news, the forty-ability fifth's to deliver on such experiences could be jeopardized.

The floor price had since dropped back to around the 0.51 range at the time of writing. The price is still significantly higher than the initial mint price of $99 set in December.

NFT sales hit $4.7B in Q1

Blockchain analytics platform DappRadar, total NFT trading volume in Q1 was $4.7 billion, more than doubling that of the previous quarter.

The firm highlighted bullish activity from the Blur marketplace, which took the market by storm in February during its token airdrop farming period.

The $4.7 billion was generated by 19.4 million NFT sales in Q1, representing an increase of 8.56%, while total volume increased by 147% compared to the $1.9 billion recorded in Q4 2022.

The Ethereum network accounted for a whopping $4.1 billion in volume, with Solana coming in second with $242 million and Polygon coming in third with $85 million.

Square Enix drops Final Fantasy NFT trading cards

Square Enix, the Japanese gaming conglomerate behind the massively popular Final Fantasy franchise, has released NFT trading cards to commemorate the 25th anniversary of Final Fantasy VII.

The NFTs are included in the Final Fantasy VII Anniversary Art Museum Digital Card Plus collection, which also includes five physical cards and a digital NFT card.

Despite the fact that they are referred to as trading cards, Square Enix stated on its website that the NFTs cannot be traded or transferred at this time, unless the company decides to build a marketplace in the future.

"We will notify you if we decide to support the marketplace in the future," the website states.

The packs were released on March 31 and cost approximately $3.30 each, with the card artwork depicting various characters and scenery from the iconic Final Fantasy VII game.

While it is unclear whether Square Enix intends to build a marketplace to support its digital collectibles, the company has been gradually ramping up its NFT and blockchain gaming-related initiatives in recent years, implying that something is in the works.

NFT flight tickets

Flybondi, an Argentine low-cost airline, has launched domestic NFT flight tickets as part of its "Ticket 3.0" initiative.

The company's March 29 announcement, users of the new service will be able to directly change names on tickets, transfer them to other people, or give them away, essentially streamlining the company's current ticketing models.

"With Ticket 3.0, our passengers will have more flexibility and control over their trips because they will be able to transfer, rename, or give away their tickets in a simple and autonomous manner," Flybondi CEO Mauricio Sana explained, adding:

“With this launch, we seek to generate a positive impact in the aviation industry through innovation and an application of blockchain technology.”

The move is the result of an expanded partnership with NFT ticketing company TravelX, which launched late last year and tokenizes using the Algorand blockchain.

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