Reality Social, the social media platform based by U.S. President Donald Trump, has signaled it would launch a utility token as a part of its new loyalty rewards program tied to its Patriot Package deal subscription plan.
“Within the close to future, based mostly on their stage of engagement with the platforms, Patriot Package deal subscribers will accumulate gems on their Reality Social accounts. These will ultimately be tied to a utility token on each Reality Social and Reality+,” it mentioned.
The Patriot Package deal, at the moment in public beta, prices $9.99 a month and gives entry to 12 “premium, non-woke information channels,” expanded video-on-demand content material, a crimson verification checkmark on Reality Social, and a Reality+ badge.
Surprisingly, a separate free tier gives 27 channels—15 greater than the paid model—together with Euronews and a Spanish-language station.
This isn’t the primary time Reality Social’s dad or mum firm, Trump Media & Know-how Group, has floated crypto-related plans.
In April, it informed shareholders it was exploring a utility token for a Reality digital pockets that would initially be used to pay for Reality+ subscriptions and, later, for different providers within the Reality ecosystem. In Could, it denied rumors it could launch a Reality Social meme coin.
And this week, it filed a registration assertion with the Securities and Alternate Fee for a brand new “Reality Social Crypto Blue Chip ETF,” which would come with property like Bitcoin, Ethereum, Solana, XRP, and Cronos.
Reality Social’s crypto ambitions mark the newest in a broader pattern of Trump-linked ventures embracing digital property.
Trump and his spouse, Melania, have promoted varied NFT collections and meme tokens in recent times. In Could, Trump hosted prime holders of the TRUMP token at a personal dinner and reception, sparking backlash from ethics watchdogs.
Advocacy group Accountable.US labeled it “probably the most nakedly corrupt self-enrichment scheme in U.S. presidential historical past.”
The Trump household can also be related with crypto ventures, together with World Liberty Monetary and American Bitcoin.
Lawmakers, together with Sen. Elizabeth Warren (D-MA), have known as for stronger legal guidelines to forestall sitting presidents and their households from monetizing crypto ventures. Regardless of this, legislative progress has been gradual.
Even some Republicans have voiced issues. Throughout a Senate Banking Committee listening to Wednesday, Sen. John Kennedy (R-LA) questioned why the crypto business seemed to be crafting its personal laws, noting the proposed market construction invoice would considerably weaken oversight.
“To what extent ought to we assist you to draft [these rules]?… I’ve… heard a few of you say that digital property symbolize the subsequent technology of the web,” Kennedy mentioned, chatting with a panel of crypto leaders, together with Ripple CEO Brad Garlinghouse.
“Effectively, we let the present technology of the web right their very own guidelines, and albeit, what we received consequently appears to be like like any individual knocked over a urine pattern.”
