Trump and Melania memecoins make push for real-world payments in fragrances, sneakers and travel

In the wake of the pre-inauguration launch of the Official Trump and Melania memecoins, initially marketed as “collectibles,” the tokens are now attempting to demonstrate real-world utility as payment options in Trump-branded product stores and other websites.

Two sites, GetTrumpFragrances.com and GetTrumpSneakers.com, which license the brand of President Donald Trump, are now accepting TRUMP and MELANIA memecoins for payments, in addition to bitcoin and credit card options. While TRUMP is heavily advertised as a payment option via Solana Pay, the integration also allows transactions in dozens of other Solana-based tokens, including SOL and USDC, as well as other memecoins such as BONK and WIF. Another Trump-branded store, GetTrumpWatches.com, still only accepts bitcoin and fiat.

All three sites appear to operate under license from CIC Ventures, which is linked to the CIC Digital firm associated with President Trump that launched the memecoins on Jan. 17. 

Crypto-native travel bookings platform Travala is another site to have integrated TRUMP token payments in recent days, in addition to over 60 cryptocurrencies, including SOL, ETH, BNB, XRP, DOGE and USDT, hoping to capture interest from a new wave of adopters. “TRUMP is now live on Travala!” the platform posted to X. “You can now book hotels, flights, and fun activities around the world and pay with TRUMP.”

Controversial launch

The high-profile and controversial launch of Trump’s official Solana-based memecoin came during the premiere Crypto Ball in Washington on the Friday night before his inauguration as President.

A frenzy of trading activity subsequently lifted the TRUMP token to a fully diluted valuation of more than $75 billion at one point, briefly surpassing the largest memecoin, DOGE.

That was until the launch of returning First Lady Melania Trump's own memecoin, MELANIA, saw a 50% correction for the TRUMP token. Melania's memecoin hit a peak fully diluted valuation of around $13 billion before it also swiftly halved, featuring faster vesting periods though fewer insider allocations than Trump's token.

TRUMP is currently trading for $27.41 at a market cap of $5.5 billion, and MELANIA is changing hands for $2.25 at a $338 million market cap, according to The Block’s Prices Page.

Kraken Global Head of Institutional Tim Ogilvie told The Block that the period leading up to Inauguration Day amid the memecoin's launch marked " one of the most active times " in the crypto exchange's history.

However, Trump himself appeared relatively unaware of the situation. "I don't know much about it other than I launched it," Trump said during a recent press conference. "I heard it was very successful. I haven't checked."

Bringing hundreds of thousands onchain

Earlier this month, analysts at Bernstein said that some may cringe but Trump’s official launch of a memecoin represents a “ paradigm shift ” in how the U.S. and the world will approach crypto. “It signifies a new regulatory era, where governments see crypto as a technology to reach out to the masses directly,” they said.

While some in the industry believe the move took away the regulatory risk in launching tokens in the U.S. — a signal that freedom and innovation are back for U.S. builders — there are also strong critics.

“I don’t like it,” Bloomberg ETF analyst Eric Balchunas said . “I get its probably being done to add to the enthusiasm for the dawn of a new era but it seems exploitative. Unforced error in the making IMO.”

Another concern is the lofty 80% of the TRUMP token supply that is held by wallets associated with CIC Digital — the Trump-affiliated entity linked to the previous launch of Trump-branded NFTs, sneakers and mugs as part of the election campaign — leading to concerns over insider selling. However, these tokens are subject to a vesting period of up to three years, according to the project’s website.

Data from blockchain analytics firm Chainalysis suggests approximately 50% of Official Trump and Melania memecoin holders had never bought a “Solana altcoin” before — Solana-based tokens other than SOL or stablecoins.

Some 46.5% of buyers only created their wallets on the day they purchased the tokens, per Chainalysis. The firm identified most wallets holding TRUMP and MELANIA as likely being retail, with over 80% of the addresses holding under $1,000 worth of assets and 70% under $100.

Memecoin launchpad Moonshot said it had brought hundreds of thousands of people onchain following the launch. The platform’s simple web2-style interface propelled it to the top finance app on the U.S. Apple App Store and the seventh most popular free app during the weekend following the launch.

Trump’s escalating crypto activity

Donald Trump positioned himself as a pro-crypto candidate during the election campaign, backing the creation of a strategic bitcoin stockpile and later supporting the launch of DeFi project World Liberty Financial.

On Wednesday, the Trump Media Technology Group board approved the launch of a fintech venture called Truth.Fi, aiming to invest up to $250 million in bitcoin, similar cryptocurrencies or crypto-related securities, ETFs and other financial assets.

President Trump owns over 50% of the company, which also operates the social media platform Truth Social, and previously filed a trademark for digital wallet software back in November.

The launch of Truth.Fi follows shortly after Elon Musk-owned X's partnership with Visa to help power its "X Money" digital payments project, though its crypto ambitions remain unclear. Trump and Musk became close during the lead-up to the presidential election. Musk now leads the recently created Department of Government Efficiency (DOGE).

Earlier this week, Tuttle Capital Management filed for 10 different leveraged crypto exchange-traded funds, including the newly-launched Trump and Melania memecoins.