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.
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.
Source: https://cryptobriefing.com/gems-cronos-conversion-truth-social/
