Trump Media & Technology Group (TMTG) is considering launching a utility token and a native digital wallet.
This step is part of their broader strategy to enhance the Truth+ platform, the company's streaming service.
Trump Media's plans for blockchain: how a utility token will change Truth+
In a letter to shareholders, TMTG CEO and Chairman Devin Nunes outlined the company's plans to expand digital offerings and explore various monetization avenues for Truth+.
This includes advertising and the implementation of a subscription package that will contain premium content. The company is also working on securing new programs, including family entertainment, documentaries, and unbiased news broadcasts.
In addition, Nunes reported that TMTG is considering a rewards program with a utility token. These efforts are aimed at positioning Truth+ as a competitive player in the streaming media sector. The CEO explained that this token will initially be used to pay for subscriptions to Truth+. The goal is to expand its use to other products and services in the Truth ecosystem in the future. At this time, details regarding the token structure and other aspects have not yet been disclosed.
This move follows previous TMTG initiatives in this sector. In January, the public company committed to investing $250 million in cryptocurrency investments through Truth.Fi. The following month, the company announced plans to launch exchange-traded funds (ETFs) and separately managed accounts (SMAs). This also included a Bitcoin (BTC) ETF.
Meanwhile, Trump's involvement in this sector continues to deepen. Recently, BeInCrypto reported that Trump Organization, in collaboration with the London-based company Dar Global, is building the Trump International Hotel and Tower worth $1 billion in Dubai. This project will be the first major development to accept payments in Bitcoin and cryptocurrencies.
In addition, the President plans to hold a private dinner on May 22 with the top 220 owners of his official meme coin Trump (TRUMP).
Given Trump's ongoing involvement, both personally and through his business initiatives, it is clear that the integration of blockchain technology into TMTG's broader business model will be a key element in its future growth.