Trump Media and Expertise Group has up to date its Fact Social platform to attach its digital rewards program with cryptocurrency.
The corporate introduced on Tuesday that Fact Social customers subscribed to its Patriot Package deal, a paid model of its Fact+ streaming platform, will acquire entry to premium options just like the “Fact gems,” as a part of its upgraded rewards program.
The gems could be earned by way of actions throughout Trump Media’s platforms and transformed into Cronos (CRO), the native token of Crypto.com, utilizing the change’s pockets infrastructure.
Cointelegraph reached out to Crypto.com for extra data, however didn’t obtain a response by publication.
Trump Media takes a distinct strategy to Fact Social rewards
The transfer to combine CRO indicators a pivot from the corporate’s earlier remarks about exploring the launch of its personal utility token.
In April, Trump Media stated it was exploring the launch of a proprietary token and digital pockets to help its Fact+ streaming platform. In an April 29 letter to shareholders, Trump Media CEO Devin Nunes stated the corporate is exploring the introduction of a utility token inside a Fact digital pockets.
Nunes stated the token can initially be used to pay for subscription prices and be utilized to different merchandise inside the ecosystem. He added that the token will even be a part of a rewards program that Trump Media is exploring throughout providers.
In Could, rumors of a Fact Social memecoin launching circulated on social media. Nevertheless, Fact Social denied that it was planning to launch a memecoin. Donald Trump Jr., the US president’s eldest son, stated that there was “no fact” to the rumors.
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Trump Media and Crypto.com’s relationship
This isn’t the primary time that Trump Media has collaborated with Crypto.com. Earlier this yr, the corporate partnered with the platform to launch exchange-traded funds (ETFs) monitoring digital belongings and securities “with a Made in America focus.”
The funds will launch by way of Fact.Fi and can be obtainable by way of Crypto.com’s broker-dealer, Foris Capital. The ETFs are anticipated to go dwell later in 2025, topic to regulatory approvals.
Trump Media has additionally entered a serious settlement with Crypto.com to amass 684.4 million CRO tokens, value roughly $105 million, as a part of a broader $6.4 billion digital-asset treasury technique. The tokens can be acquired by way of a mixture of inventory and money and held in Crypto.com’s institutional custody, doubtlessly permitting Trump Media to stake them for extra yield.
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