Truth Social presents its own utility token
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The Token is part of a loyalty program.
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The company could also launch its own Wallet, according to official communications.
The company behind the Social Truth Social Network, linked to the US president Donald Trump, announced advances in the development of a new utility token that will be part of a rewards system for users of its platform and the Truth+subscription service.
Trump Media & Technology Group (TMTG), the parent company, explained that The Token will be integrated into its ecosystem as part of a loyalty programalthough there is still no precise information about its technical operation.
The Token would be linked to the level of user participation within the group’s platforms. According to official communications, those who subscribe to the “Patriot Package” streaming package will accumulate digital gems based on their activity. These gems, at a later stage, will be associated with the new utility token, usable within Truth Social and Truth+.
The utility tokens, as explained by cryptopedic cryptopedics, Created assets to grant products and services within a platform. It can be an exchange, a video game or a loan system, to give examples.
The company began this week the public beta phase of Truth+, a subscription service of audiovisual content that includes access to informative channels, a broader selection of content on demand, priority in comments, special badges and verification with red brand. The package has a monthly cost of $ 9.99with a free period available for those who wish to participate in the trial phase.
TMTG also reported that it is collecting opinions of its users about the design of gems through an online survey. The objective is to incorporate these elements into a Futura Wallet that will allow to administer the tokens and make payments within the ecosystem.
In a letter to its shareholders, published in April, TMTG explained that the Token will initially serve to pay Truth+subscriptions, with the possibility of expanding its use towards other services and products. The letter also revealed that the development of Token is part of a broader strategy of technological integration and digital expansion.
Trump Media has shown a growing interest in the digital asset ecosystem. In recent months, he has presented proposals before the United States stock and values commission (SEC) to launch several ETFs linked to cryptocurrencies such as Bitcoin, Ethher (Eth), Solana and Cronos, as reported by cryptootics.
In addition, TMTG obtained approval on June 14 by the SEC to issue values that will finance, among other initiatives, the creation of a Bitcoin Treasury (BTC).
