The post-election surge in bitcoin and altcoin prices has extended to to non-fungible tokens (NFTs), which are witnessing a surprising revival. Digital collectibles, once struggling, are now boasting more than $180 million in weekly sales, according to NFT data tracker CryptoSlam. This marks a 94% increase in weekly sales, signaling renewed optimism in a corner of the crypto market that was once deemed nearly worthless.

This resurgence is likely tied to the anticipation of Donald Trump’s second presidency. A report from DappGambl last year revealed that 95% of NFT collections were valued at zero ether, highlighting the stark contrast to 2024’s current growth. Trump's business ventures in NFTs, including profits of $7 million from his own NFT trading card collections, may have reignited interest in the sector.

While NFT sales volume last week reached $93 million, over the last seven days average sale prices of NFTs have soared to $133.08 – marking an 87% increase from $71.11 the previous week.

Despite the recent upsurge in NFT sales, however, digital collectibles’ inherent market volatility and speculative character mean that sales figures from one week do not indicate a lasting trend. This short-term fluctuation is a key factor in the instability of the market.

The rapid price declines of NFTs have prompted market analysts to issue cautionary warnings to investors mulling re-entry in the space. As last year's DappGambl report highlights, “Amid stories of digital art pieces selling for millions and overnight success stories, it is easy to overlook the fact that the market is fraught with pitfalls and potential losses.”