Trump-Branded Product Buyers To Receive Official TRUMP Tokens In Airdrop—Memecoin Falls 8%

Buyers of President Donald Trump-branded merchandise would receive free Official Trump TRUMP/USD tokens as a reward.

What Happened: Individuals who have purchased Trump-branded items such as watches, fragrances, sneakers, or non-fungible tokens will be awarded three TRUMP tokens, according to the coin’s official website.

The number of tokens to be received remains the same irrespective of the number of products bought, provided the purchase was made before Feb. 15. Customers have until March 1 to claim their tokens.

The giveaway coincided with the 1-month anniversary of the token’s launch, with the team rewarding loyal customers of Trump-themed products.

See Also: PlanB Shifts Bitcoin Holdings To ETFs Saying He’s No Longer A ‘Maxi’ — Peter Schiff Reacts: Apex Crypto ‘Not Fulfilling Its Supposed Purpose’

Why It Matters: This airdrop followed last month’s announcement that TRUMP would be accepted for payments for purchasing products on GetTrumpWatches.com, GetTrumpFragrances.com, and GetTrumpSneakers.com. In addition to retail, the travel booking site Travala has also embraced the token.

The coin, launched just before Trump’s presidential inauguration, reached a fully diluted valuation of $75 billion shortly after its debut but has since plummeted over 77%.

Entities affiliated with The Trump Organization control 80% of the coin’s supply, however, a disclaimer on the website states, “This product is not distributed or sold by Donald J. Trump, The Trump Organization or any of their respective affiliates or principals.”

Price Action: At the time of writing, TRUMP was exchanging hands at $17.23, plunging 8.32% in the last 24 hours, according to data from Benzinga Pro.

Image via Shutterstock

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Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.