真理社会（TMTG）正在探索实用程序的引入

令牌最初将用于支付真相+订阅成本，该平台的流服务提供保守的内容。

Truth Social, owned by Trump Media & Technology Group (TMTG), is exploring the introduction of a utility token as part of a digital wallet system to facilitate payments within its ecosystem.

由特朗普媒体与技术集团（TMTG）拥有的Truth Social，正在探索介绍公用事业令牌，作为数字钱包系统的一部分，以促进其生态系统中的付款。

The token would initially be used to pay for Truth+ subscription costs, the platform’s streaming service offering conservative content, according to a shareholder letter dated April 29.

根据4月29日的股东信件，该代币最初将用于支付该平台的流媒体服务，该平台的流媒体服务提供保守的内容。

Later, it will be used for other products and services in the “Truth ecosphere,” such as the Truth Social network and Truth.Fi financial services. This move continues TMTG’s foray into blockchain technology, having applied for a trademark for digital wallet software in November and partnered with Crypto.com to launch cryptocurrency-focused ETFs.

后来，它将用于“真实生态圈”中的其他产品和服务，例如真相社交网络和真相。FI金融服务。这一举动延续了TMTG对区块链技术的尝试，该技术在11月申请了数字钱包软件的商标，并与Crypto.com合作启动了以加密货币为中心的ETF。

The token is envisioned to foster user engagement through a rewards program, potentially covering in-platform purchases, exclusive content, or advertising. However, details like the token’s name, launch date, and distribution structure remain undisclosed, and the initiative awaits regulatory approval.

设想的令牌可以通过奖励计划来促进用户参与度，并有可能涵盖平台购买，独家内容或广告。但是，诸如令牌名称，启动日期和分销结构之类的细节仍未公开，该计划正在等待监管机构批准。

This announcement had a minimal impact on TMTG’s stock (DJT), which saw a 0.52% drop in after-hours trading.

这一宣布对TMTG的股票（DJT）的影响很小，该股票的下班后交易下降了0.52％。

The introduction of a utility token by Truth Social (TMTG) carries several implications across financial, operational, and market dimensions.

通过真理社会（TMTG）引入公用事业令牌，在财务，运营和市场方面产生了一些含义。

* Financial Implications: The token could serve as an alternative revenue stream to traditional models. It may generate income through transaction fees on the token network or through the sale of tokens to users. This is especially pertinent as Truth Social faces challenges in diversifying its revenue, having reported only $4.1 million in 2023 despite a high market cap of over $7 billion.

*财务影响：代币可以作为传统模型的替代收入来源。它可能通过令牌网络上的交易费用或通过向用户出售代币来产生收入。这是尤其相关的，因为真理社会面临的挑战在使收入多样化时，尽管市值高70亿美元，但在2023年仅报告了410万美元。

* Operational Implications: The token could be used to streamline transactions and payments within Truth Social’s ecosystem, enhancing the user experience and encouraging spending on subscriptions, in-platform purchases, or advertising. This move aligns with TMTG’s broader push into new revenue streams and ventures into blockchain and cryptocurrency with initiatives like Truth.Fi and the partnership with Crypto.com for crypto ETFs.

*操作含义：代币可用于简化Trute Social生态系统中的交易和付款，增强用户体验并鼓励在订阅，平台购买或广告上支出支出。这一举动与TMTG更广泛地推进了新的收入来源，并通过诸如truth.fi之类的计划以及与crypto.com的合作伙伴关系融入了区块链和加密货币。

* Market Implications: The token could be a talking point to attract investor interest in TMTG, which faces skepticism due to its high valuation and limited profitability. A successful token launch could stabilize Truth Social’s stock price, which has seen fluctuations recently. However, any failure or delay in the token initiative could further decrease investor confidence and lead to selling pressure on the stock.

*市场影响：代币可能是吸引投资者对TMTG的兴趣的话题，由于其高估和有限的盈利能力，这对TMTG产生了怀疑。成功的代币发布可以稳定真相社交的股价，这最近发生了波动。但是，代币倡议的任何失败或延迟都可以进一步降低投资者的信心，并导致对股票的销售压力。

The token is positioned within a broader narrative of innovation and differentiation for Truth Social, which seeks to compete with established platforms like X (formerly Twitter) in a crowded market. It could be marketed to appeal to crypto-savvy users among Truth Social’s audience, aligning with the MAGA ethos of “anti-establishment” thinking and a preference for alternatives.

代币位于对真理社会的创新和差异化的更广泛的叙述中，该叙述旨在与拥挤的市场中的X（以前为Twitter）这样的既定平台竞争。它可以销售，以吸引真实社交受众群体中精通加密的用户，与“反建立”思维的杂志精神一致，并偏爱替代方案。

However, the initiative faces several challenges. The niche focus on conservative users may limit broader market adoption of the token and its ecosystem. Moreover, the token’s launch depends heavily on regulatory approval, particularly from the SEC, given the increased scrutiny on cryptocurrencies and potential legal issues.

但是，该计划面临着几个挑战。对保守用户的利基市场关注可能会限制对代币及其生态系统的更广泛的市场采用。此外，鉴于对加密货币和潜在的法律问题的审查增加了，令牌的发布在很大程度上取决于监管机构的批准，尤其是从SEC获得的批准。

If classified as a security rather than a utility token, it could face stricter regulations, increasing compliance costs for TMTG. Additionally, the token’s success depends on user adoption and integration into the platform’s interface and user flows, which may pose difficulties, especially for non-crypto-native users.

如果将其归类为安全，而不是公用事业令牌，则可能面临更严格的法规，从而增加TMTG的合规成本。此外，令牌的成功取决于用户的采用和集成到平台的界面和用户流中，这可能会构成困难，尤其是对于非透明的本地用户。

Despite these challenges, the utility token presents an opportunity for Truth Social to strengthen its ecosystem, engage its core audience, and offer a unique value proposition in a competitive market. Failure to deliver on this initiative could harm TMTG’s credibility and stock performance, while success could solidify its niche in the conservative digital and financial space.

尽管面临这些挑战，但公用事业令牌为真理社交提供了一个机会，可以加强其生态系统，吸引其核心受众，并在竞争市场中提供独特的价值主张。未能执行此计划可能会损害TMTG的信誉和股票表现，而成功可以巩固其在保守的数字和金融领域的利基市场。