KEY POINTS
- 10 million $MAGAA tokens will be sent to Trump's Ethereum wallet to mark his 78th birthday
- The memecoin's X Spaces Sunday drew in 273K listeners and supporters
- Trump Jr. said during the Spaces event that PolitiFi tokens creates an avenue for people to be vocal
- The MAGAA team said the token seeks to represent political movements in a digital age
Former President Donald Trump turns 78 Friday, and as celebratory messages poured in, the team behind the Ethereum token MAGAA announced Thursday they will send 10 million tokens to the Republican presidential candidate's ERC-20 wallet, worth around $15.3 million in cryptocurrency assets.
The PolitiFi memecoin, which has seen significant popularity since launching on the Ethereum blockchain this week, seeks to represent political movements and ideals in a highly-digital age. The donation is the "fifth most valued asset in Trump's public portfolio," the MAGAA team said.
"Backed by a team of experienced marketers and political insiders, MAGAA seeks to create a cult-like following around shared belief systems and drive significant market impact through strategic influencer engagement and media partnerships," the team told International Business Times in a statement.
It added that memecoins such as MAGAA are not just part of the vast world of cryptocurrencies. "They are movements that unite people around shared ideals and create momentum for change," and MAGAA's success signifies the power of such tokens in driving political discourse.
The airdrop announcement comes days after a groundbreaking X (formerly Twitter) Spaces event that attracted a staggering 273,000 listeners on Sunday to mark the memecoin's Ethereum launch. The Spaces figures made the event one of the largest in history as crypto advocates highlighted the impact of memecoins in the political realm.
Just finished an X space with Donald Trump Jr, Alex Finn, Wall Street Bets, Andrew Tate, Mario Newfal, and Justin Waller
— $MAGAA | MAKE AMERICA GREAT AGAIN, AGAIN! (@MAGAAtoken) June 8, 2024
More discussions to come. Memes will win Trump the election! $MAGAA
website: https://t.co/Ni9knB7Wxe
CA: 0x9EBb0895bD9C7C9dFAB0d8d877c66bA613Ac98Ea pic.twitter.com/pP3RSQiEsT
Among the influential names that attended the Spaces event were Trump's son, Donald Trump Jr., former professional kickboxer and entrepreneur Andrew Tate, social media influencer Dan Bilzerian, and investor Justin Waller.
During the event, Trump Jr. said he appreciates how PolitiFi memecoins "create a community, creating momentum and movement – it creates another avenue for people to be vocal."
Trump and @DonaldJTrumpJr clearly understand the role memecoins will play in the future.
— $MAGAA | MAKE AMERICA GREAT AGAIN, AGAIN! (@MAGAAtoken) June 12, 2024
In a world of bots, AI, and spam that blast fake news and present false narratives as public opinion, how can you tell how society really feels? pic.twitter.com/A5JD8e76dT
Bilzerian, the son of well-known Armenian Wall Street takeover expert Paul Bilzerian, said political memecoins have a rebellious nature that demonstrate a movement of "going against the system."
After the X Spaces event, the MAGAA coin's market capitalization soared from $4 million to a whopping $84 million, underscoring the crypto community's strong support in the token's mission and potential in the burgeoning digital assets space.
Speaking about the success of the X Spaces event and the support of influential investors and entrepreneurs, the founding team told IBT that they are excited about forging partnerships with significant influencers while also supporting conservative movements.
"We're donating a large amount of money to conservative movements, and we will be making an extremely large donation to President Trump's Ethereum wallet to show our alignment," the team said.
