The TRUMP token, launched before President Donald Trump's inauguration, is set to roll out an NFT marketplace that will utilize 'loyalty points'.
Functionality of the New Platform
According to a leak from the official website, users will be able to buy and sell NFTs using cryptocurrency or 'loyalty points'. These points can be earned through trading, completing platform tasks, and possibly by holding TRUMP tokens.
Financial Results of TRUMP Token
Since its launch, the token has demonstrated significant gains, particularly for large investors. Analysis by Inca Digital and Bubblemaps indicates that as of May 8, over 60 large wallets have generated approximately $1.5 billion in profit. $48 million of this profit was made after Trump hosted a dinner in April.
Financial Losses Among Users
However, the outlook is less positive for many: around 600,000 wallets collectively lost $3.87 billion. Of this amount, $117 million in losses occurred following the dinner invitation announcement made on social media. As most purchases were made on the secondary market, the Trump family earned only limited fees from these transactions.
Overall, the launch of the TRUMP NFT marketplace presents new opportunities for users while also highlighting the risks associated with investments in memecoins.
