The Trump Media & Technology Group (TMTG) is evaluating the launch of a utility token and a native digital wallet.
This initiative is part of a broader strategy to enhance the Truth+ platform, the company’s streaming service.
Trump Media's blockchain plans
In a letter to shareholders, TMTG CEO and President Devin Nunes detailed the company's plans to expand its digital offerings and explore various monetization avenues for Truth+.
This includes advertising and the introduction of a subscription package that will feature premium content. The company is also working to secure new programs, including family entertainment, documentaries, and unbiased news broadcasts.
Additionally, Nunes revealed that TMTG is considering a rewards program with a utility token. These efforts aim to position Truth+ as a competitor in the streaming media sector.
As part of a rewards program, we are exploring the introduction of a utility token within a Truth digital wallet, Nunes wrote.
The CEO explained that this token would initially be used to pay for streaming service subscriptions. The goal is to expand its use to other products and services within the Truth ecosystem later. At this moment, details about the token structure and other aspects have not yet been revealed.
Trump Media intensifies presence in the crypto sector
This initiative follows TMTG's previous ventures in the sector. In January, the publicly traded company committed $250 million for crypto-related investments through Truth.Fi. The following month, the company announced plans to launch customized exchange-traded funds (ETFs) and separately managed accounts (SMAs). This also included a Bitcoin (BTC) ETF.
Meanwhile, Trump's involvement in the sector has continued to deepen. Recently, BeInCrypto reported that the Trump Organization, in collaboration with London-listed Dar Global, is building a $1 billion Trump International Hotel and Tower in Dubai. This project will be the first major development to accept payments in Bitcoin and crypto.
Furthermore, the President is set to host a private dinner on May 22 with the top 220 investors of his Official Trump (TRUMP) memecoin.
With Trump's ongoing involvement, both personally and through his business ventures, it is clear that the integration of blockchain technology into TMTG's broader business model will be a key element for its future growth.
The article Trump Media plans to launch a token to boost its streaming app was first seen on BeInCrypto Brazil.
