Trump Media’s Truth Social has announced plans for the launch of a utility token. These token must reward users of Donald Trump’s social network based on their activity on the platform. This is apparent from a message from the official Truth Social Account.
Patriot Package with rewards
In the recent post at the official Truth Social account, the company announced that “a utility token” will be launched soon. Trump Media is currently working on a beta test of a new subscription called the Patriot Package.
Users who subscribe to this Patriot Package can collect so-called gems via their social media activities. These gems will eventually be linked to the new Utility token, which can be used on both Truth Social and the new streaming service Truth+.
“Depending on their involvement, Patriot Package subscribers gather on their truth social accounts. These are linked to a utility token on both Truth Social and Truth+,” said the official announcement.
In addition to social media rewards, the Patriot Package also offers access to a TV streaming service with twelve “Premium, non-wake news channels” and a wide range of video-on-demand. Subscribers also receive red-oriented accounts, prominent reactions and an exclusive truth+account.
Beta and Future plans
At the moment Trump Media offers a free trial period of the Patriot Package via a Bètalink. Users are also asked to give feedback on the design of the gems, which shape the reward system. The official introduction of the Utility token is still waiting.
Trump Media & Technology Group brought the plan for a utility token out for the first time in April, in a letter to shareholders. CEO Devin Nunes then indicated that the company is investigating how a utility token and digital wallet can be integrated within Truth+.
The Utility token must initially serve as a means of payment for Truth+, but can also be used later for other services of Trump Media, including the Financial Tak Truth.fi.
Truth Social is working hard, also in the crypto world. This week, the American stock market watchdog SEC approved the application for noting shares of the Truth Social Bitcoin and Ethereum ETF. The corresponding S-1 form is currently being assessed.
Trump Media has previously submitted a request for its own Truth Social Bitcoin ETF and yesterday for a fund that, in addition to the largest crypto coin, also offers exposure to Ethereum, Solana (SOL), Ripple (XRP) and Cronos (CRO).
Source: https://newsbit.nl/trumps-socialmediaplatform-wil-gebruikers-belonen-met-eigen-token/
