Truth Social and Truth+ allow users to convert gems into Cronos token, dropping plans for proprietary token
Key Takeaways
- Truth Social and Truth+ now allow users to convert gems rewards into the Cronos token.
- Plans for launching a proprietary digital asset have been canceled in favor of using Cronos.
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Trump Media & Technology Group today announced that users of Truth Social and Truth+ platforms can convert their “gems” rewards into Cronos token, abandoning earlier plans to launch a proprietary digital asset.
The change allows users to exchange activity-based reward points, called gems, directly into the established Cronos token rather than a platform-specific crypto asset that was previously under consideration, according to a company press release.
The move represents a strategic shift for the Trump-backed social media platforms, which had sparked speculation about potentially introducing their own digital token. By adopting an existing crypto asset, the platforms provide users with a more immediate path to monetize their engagement rewards.
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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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