Is Donald Trump looking to endear himself further to the $2.5 trillion crypto industry with the launch of a new crypto token called “Trump Coin”?

That’s the buzz, according to crypto industry participants, as Trump ramps up his campaign for the November presidential election. Industry experts are trying to figure out the origins of a so-called meme token registered on the Solana blockchain platform under the symbol “DJT” and the moniker “Trump Coin.”

DJT, of course, is the stock symbol of Donald Trump’s social media platform called Truth Social. The stock itself has been a meme stock favorite since going public in March, with shares of DJT trading as high as $79.38. The stock currently trades around $35.

Ticker	Security	Last	Change	Change %
DJT	TRUMP MEDIA & TECHNOLOGY GROUP CORP	34.72	-2.33	-6.29%

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Like meme stocks, meme tokens are inspired by extraneous factors such as internet trends and pop culture references. Although some of the most famous meme coins, like Dogecoin and Shiba Inu, were originally created as a joke, their popularity and cult-like followings have accelerated the total meme coin market cap to a staggering $50 billion.

By launching on the Solana blockchain, Trump Coin will join the ranks of other popular Solana-based meme coin projects like “Dogwifhat,” a token associated with a meme of a dog wearing a pink knitted hat; “Jeo Boden,” a satirical cartoon of President Biden; and “Mother Iggy,” a meme coin launched last month by Australian rapper Iggy Azalea.

According to blockchain explorer SolScan, the token began trading on Solana this evening with the market cap currently sitting at $73 million. 

FOX Business could not confirm if the token is directly or indirectly affiliated with Trump, but sources in the industry say people affiliated with the former president have been planning to launch a digital coin for at least two months.

A spokesperson for the Trump campaign didn’t return requests for comment. A spokesperson for Truth Social also didn’t return calls for comment.

When asked for comment on the Trump Coin launch, former GOP presidential candidate and adviser to President Trump, Vivek Ramaswamy, directed FOX Business to the Trump campaign but had this to say: “I’m glad President Trump and his campaign are leaning into crypto, including accepting it – he’s ahead of the curve. Embracing crypto will help Trump continue to bring libertarians and your not-typical Republicans into the fold – it’s a winning issue.”

Trump Coin is the latest of a handful of meme coins inspired by political candidates this election cycle. Other nonaffiliated Trump meme tokens are trading in the crypto landscape, including a token trading under the symbol MAGA, his “Make America Great Again” slogan with a cartoon of Trump and an American flag in the background.

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“MAGA” coin, which operates under the ticker TRUMP, is currently the most popular political meme coin, trading at just over $9 with a market cap of over $400 million. The price of the token dropped on the news of the launch of Trump Coin. 

Another Trump-inspired meme coin trades under the letters TROG; it accompanies a cartoon of a frog wearing a MAGA hat. Much smaller in comparison to MAGA, it has a market cap of $7.38 million and also fell on the news of the Trump Coin launch.

Neither MAGA nor TROG are affiliated with Trump, his various business ventures nor his 2024 presidential campaign directly. However, according to blockchain research firm Arkham Intelligence, the former president owns a substantial number of MAGA and TROG tokens, which he was gifted by the token creator. Trump, himself, is hardly a crypto bro, but he has tapped into the industry as a potential source of voters as the November elections near.

Around 52 million Americans have used crypto, according to a Coinbase study, and they are becoming increasingly politically active as they work to elect crypto-friendly politicians to congressional positions. One such candidate is John Deaton, a crypto lawyer who’s currently running as a Republican to unseat Massachusetts Democrat Sen. Elizabeth Warren, who is prominently anti-crypto.

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Trump is worth an estimated $6 billion, but according to Arkham Intelligence, he now has a crypto portfolio worth around $6 million that he accumulated from various sources, including his own NFT collection and his holdings in MAGA coin and TROG coin.

The crypto vote could be pivotal in the coming presidential election, some analysts say. Many industry participants regard themselves as single-issue voters, meaning they will vote solely based on which candidate they think is the most crypto-friendly, regardless of their other political views, industry participants tell FOX Business. Trump is targeting those voters with the help of some of his advisers, including Ramaswamy, an entrepreneur and crypto enthusiast who has been advising Trump on digital asset policy.

Former U.S. President Donald Trump has referred to as crypto “harmful” regardless of his spouse Melania issuing a non-fungible token (NFT) on Solana. 

In keeping with a report by Decrypt, throughout an interview on Fox Enterprise, former President Donald Trump, who has been skeptical of cryptocurrency, referred to as it a “very harmful factor.” As famous by the Decrypt report, Trump’s feedback about crypto come at a shocking time, simply days after his spouse Melania launched her first NFT.

Right here is how Melania Trump’s web site defines an NFT:

“In easy phrases, an NFT (Non-Fungible Token) is a digital file that accommodates a one-of-a-kind code and is completely recorded on a blockchain. Accordingly, an NFT can’t be altered, thus guaranteeing authenticity and provenance.

“A blockchain is a decentralized, digital file that can not be solid or counterfeited. Every time a transaction happens, it’s recorded on the blockchain ledger, and is clear to the general public.

“No two NFTs are alike, thus offering exclusivity, shortage, and worth within the digital realm.”

To purchase an NFT, you could “(1) Create a Digital Pockets, (2) Add Cryptocurrency to your Digital Pockets (on this case, Solana’s SOL), and (3) click on to purchase the NFT.”

Trump was requested about his spouse’s NFT by Fox Enterprise host Maria Bartiromo. He responded:

She’s gonna do nice. She’s acquired an excellent creativeness.

The previous President was requested to broaden upon his views about crypto. Trump defined his choice for the U.S. greenback over digital property.

He stated:

I by no means beloved it as a result of I prefer to have the greenback. I used to be by no means an enormous fan, however it’s build up greater and greater and no one’s doing something about it. I would like our forex referred to as the greenback. 

Trump predicted the crypto markets might result in an explosion that will make large tech seem like “child stuff.” He concluded that cryptoassets symbolize a “very harmful factor.”

Disclaimer

The views and opinions expressed by the writer, or any individuals talked about on this article, are for informational functions solely, and they don’t represent monetary, funding, or different recommendation. Investing in or buying and selling cryptoassets comes with a threat of monetary loss.

Picture Credit score

Photograph by consumer “Donbrandon” by way of Pixabay.com

Sizzling Potatoes (HPs), the NFT assortment and gaming platform on the Ethereum blockchain, is scheduled for launch quickly. The undertaking will allow gaming and crypto followers to mint random Sizzling Potatoes with uncommon and loopy attributes. Customers will entry an NFT assortment composed of as much as 52,560 HPs, which grant entry to the sport’s digital area dubbed the ‘PotatoVerse’.

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Singapore, Dec. 29, 2021 (GLOBE NEWSWIRE) — (by way of Blockchain Wire ) The Sizzling Potatoes metaverse is a closed-doors gaming world the place solely HPs holders can compete for the bi-yearly grand prize of the sport in a real play-to-win elimination fashion match.

Every extravagant Sizzling Potato possesses uncommon pre-defined traits acquired by interacting with humanity. These attributes embrace parts that may resemble a few of the most extravagant actual world characters of our time.   

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There’s additionally a class of unique HPs with ultra-rare options and names resembling HPs that resemble a few of the most iconic and historic characters for every nation or neighborhood. Some examples embrace Sizzling Potato Trump, Sizzling Potato Napoleon, Sizzling Potato Gandhi. and Sizzling Potato Marylin Monroe. The attributes of every NFT decide its rarity and worth. 

Holders of probably the most distinctive NFTs higher their possibilities of surviving and claiming big prizes ranging from 12 ETH per winner in every six-month-long recreation. 

Pre-Register for the HPs Sale to Entry the First NFTs

The sport builders have opened the pre-registration part for buyers wishing to hitch the PotatoVerse and be the primary to carry unique and useful NFTs. Pre-registered customers could have early entry to the upcoming pre-sale occasion, which is able to provide the primary batch of HPs for minting.

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The  pre-registration type  is at the moment accessible on the Sizzling Potatoes official web site. Early-bird buyers will likely be whitelisted to take part within the pre-sale and bag as much as 5 restricted assortment NFTs. The pre-sale is scheduled to happen one week earlier than the Public Mint Date.  

Following the pre-sale occasion, a lot of the remaining HPs will likely be launched to the general public on the market, opening the door for the official launch of the PotatoVerse in Q2 2022. Non-public and public sale contributors can create superior NFTs at an preliminary mint worth of 0.05 ETH and examine their digital art work on their Metamask pockets or on the Sizzling Potatoes web site.

Players on the Sizzling Potatoes metaverse  can mint a limiteless variety of NFTs. The extra HPs a consumer mints, the upper their probability of getting a uncommon NFT with the potential to accumulate uncommon attributes and admire over time. Holding extra HPs additionally will increase the possibilities of surviving to the top and grabbing the ultimate prize. 

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Sizzling Potatoes Are Tradable on OpenSea

Customers who mint HPs can promote, gather and change their unique digital collections on  OpenSea , the most important NFT market. Gaming fanatics and NFT buyers who miss out on the pre-sale occasions should purchase these HPs completely on the favored market and earn the best to hitch the PotatoVerse. 

Word that solely HPs purchased from OpenSea are eligible to hitch the sport. That’s as a result of transactions on the main NFT market assist royalties that enrich the ultimate prize pool and fund recreation creation and improvement. 

Crypto customers may entry HPs from a particular releases pool that will likely be excluded from the Token sale occasion. The undertaking backers will launch these reserved collectibles within the type of future NFT injections into the market and airdrops to neighborhood members. 

The sport builders are dedicated to creating a brand new world of NFT – primarily based gaming. Their platform combines the worth and rarity of digital collectibles with the enjoyable and competitiveness of high-stakes play to win gaming. 

Take a look at the undertaking’s  Whitepaper  to be taught extra in regards to the HPs metaverse, NFT assortment, and gaming mechanisms. To attach with the Sizzling Potatoes neighborhood and take part in discussions, be part of the social media pages beneath:

|  Discord  |  Twitter  |   Instagram  | 

Ettore Strapazzon Assist (at) hotpotatoes.co https://hotpotatoes.co

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