Nifty News: Yuga Labs outlaws NFT exchanges, Trump NFTs spike by 800%, and more

Donald Trump’s NFT collection had a bright beginning but had recently begun to appear lifeless.

 

Daily sales of Trump NFTs increased by 800%.

 

The daily sales volume for the collection of nonfungible token (NFT) trading cards owned by former US President Donald Trump has dramatically increased recently.

 

According to market metrics aggregator Cryptoslam, sales volumes for January 18 and January 19 increased by 800% and 600%, respectively, in comparison to January 17.

 

Following allegations that the former president was looking to rejoin Facebook and Twitter ahead of the 2024 presidential election campaign, some pundits think the heightened interest may be related to his impending return to social media networks.

 

On December 15, a set of 45,000 trading cards with self-related themes was released.

 

The collection’s buyers entered into this draw comprising thousands of prizes such as zoom calls, golf rounds with ex-president, and one-on-one dinners.

 

They immediately sold out and had regular sales volumes of more than $3.5 million, but by the end of 2022, they had fallen to a baseline of about $26,000.

 

NFT markets are blacklisted by Yuga Labs.

Yuga Labs, the company that created Bored Ape Yacht Club (BAYC), has forbidden the secondary trade of its “Sewer Pass” NFTs on sites that do not properly support author royalties.

 

On January 12, the NFT project was originally introduced, and on January 17, it was made accessible for minting.

 

Only members of the Mutant Ape Yacht Club or the Bored Ape Yacht Club are permitted to mint the Sewer Pass, which serves as a key to the company’s newest skill-based NFT game, Dookey Dash.

 

The term “royalty” refers to a fee deducted from the sale price and paid to the content producer. Yuga Labs has been outspoken in its opposition to market-wide movements toward royalty-free marketplaces.

 

According to statistics from NFT Price Floor, The Sewer Pass has had a significant level of trades on secondary markets, with a floor price of 1.81 ETH ($2,809) and 15,627 ETH ($24,267,411) of sales volumes.

 

Yuga Labs has already made nearly $1.2 million in revenue from secondary sales of the collection, based on its 5% creator royalty charge.

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