In a move that’s sure to delight his most fervent supporters, former U.S. President Donald Trump is personally thanking buyers of his branded merchandise with a special $50 airdrop of his official cryptocurrency, TRUMP. The unexpected reward comes as the memecoin, launched days before Trump took office in January, has seen its value plummet over 75% from all-time highs amid a broader crypto market downturn.
Rewarding the TRUMP Faithful
According to the announcement, anyone who purchased Trump-themed perfumes, sneakers, trading cards or watches from official websites will receive three TRUMP tokens per email address used. At current prices, the airdrop is worth just over $50, but there’s a catch – the offer is only valid until March 1st.
The Trump team’s foray into crypto has been nothing if not headline-grabbing. The TRUMP memecoin made its debut with much fanfare in January, making the 45th president the first sitting U.S. leader to have an official cryptocurrency. Prices shot up from a few dollars at issuance to a peak of $75, giving TRUMP a staggering $13 billion market cap at its height.
A Token of Appreciation
The airdrop appears to be a “thank you” of sorts to Trump’s loyal base. Official Trump merchandise has proven wildly popular, often selling for hefty premiums. The now-famous limited edition Trump Bitcoin sneakers, for example, originally retailed for $500 per pair. But on the resale market, prices reached as high as $2500, turning the footwear into coveted collectibles.
I love my supporters, they’re the best. Nobody has better supporters than me, maybe in history.
– Donald Trump on his loyal fanbase
Trumping the Competition
The TRUMP token airdrop is the ex-president’s latest attempt to leverage crypto to monetize his immense popularity and personal brand. Beyond the official memecoin, Trump has also released a series of successful NFT collections. Most recently, the “Trump Digital Trading Cards” featuring the real estate magnate in various fantastical guises sold out within hours, netting over $4 million.
- 45,000 Trump Digital Trading Card NFTs minted
- Sold out within 12 hours of launch in December
- Originally priced at $99 each, now reselling for up to $1000
Clearly, the former commander-in-chief still commands serious clout with collectors and crypto enthusiasts. The TRUMP token airdrop capitalizes on that demand, while also incentivising supporters to stock up on official merch to unlock future perks and rewards.
Troubles for TRUMP Token
But it hasn’t all been smooth sailing for the presidential memecoin. After an initial surge, TRUMP has tumbled over 75% from its peak price in recent weeks. The sell-off has been exacerbated by a broader downturn across crypto markets, as well as concerns over the token’s distribution and utility.
The $50 airdrop may provide a much-needed boost to the sagging TRUMP price. By putting more tokens in the hands of actual supporters rather than speculators, the Trump team is betting that giving the memecoin more grassroots adoption can help turn the tide. The ongoing crypto bear market will certainly put that theory to the test.
Ultimately, the success or failure of the TRUMP token will likely come down to whether the MAGA movement’s famed commitment to all things Trump translates to the wild world of crypto. The March 1st deadline for loyalists to claim their tokens looms as an early indicator of its prospects.
