According to The Block, Trump Media & Technology Group plans to launch a utility token for Truth Social. This token will be integrated into the Truth digital wallet, initially used for paying Truth+ subscription fees, and can be expanded in the future to other products and services within the Truth Social ecosystem.
Is Trump going to issue a token again?
The first piece of news I saw when I woke up today was 'Truth Social plans to issue a platform token.' I have mixed feelings; Trump seems to treat the crypto world as his ATM, wanting to be involved in everything from memes to ICOs to stablecoins to blockchain games, even urging the whole family to issue tokens, and now he wants to launch a wallet token!
To be honest, I'm not very optimistic. I wonder how many people are expecting to replicate TRUMP?
Let me share my thoughts.
The rise of TRUMP relied on emotions, his reputation at that time, the expectations brought by the election cycle, and the attention generated by Trump's personal branding and controversies. It is essentially more like a MEME carrying political symbols rather than a coin with practical functionality.
In simple terms, its rise is not based on product logic, but rather on the traffic and speculative emotions brought by the two words 'Trump.' However, Trump has already become toxic!
Platform tokens are a different matter. Platform tokens talk about ecosystem, user numbers, trading volume, transaction fee discounts, and governance. Truth Social is not an on-chain product, and Web3 users don’t have much interaction demand on it.
This 'platform token' is ultimately just a reason to raise money; it's not because the app needs a token to operate. They could have empowered TRUMP without launching a new coin. Why choose to issue a new coin? Trump has already cut ties; if empowerment means lifting retail investors, that's absolutely not allowed for someone who's already harvesting profits. Issuing a new coin is far more profitable than leveraging an old one!
If you have questions -- Public account: Feng Bao Bao is roasting sweet potatoes.
The First Lady Coin is a very good contrasting case. There’s a topic, but no expected path for realization, and the funds are also unwilling to truly commit. In the end, it’s just a passing trend.
Therefore, I believe we should never use TRUMP's achievements to evaluate Truth Social's token. That's not a model; it's an exception and can even be described as an irreplicable extreme emotional case.
Finally, I urge everyone to steer clear of Trump's projects. Even if it rises tenfold or a hundredfold, don't touch it. Without someone to take over, Trump can't harvest profits. Gradually, he will abandon the idea of issuing tokens to raise money, and the crypto world will be saved. There will always be opportunities in the crypto world, so why keep lifting him up? Show some backbone!
