Rivalry Adds $TRUMP Meme Coin as Crypto Payment Method

Posted on: January 19, 2025, 11:52h. 

Last updated on: January 19, 2025, 02:42h.

Toronto-based Rivalry is jumping on the buzz around the U.S. presidential inauguration with the announcement the company just added U.S. President-elect Donald Trump’s official Solana cryptocurrency $TRUMP as an accepted payment method on the site.

Rivalry announces it has added U.S. President-elect Donald Trump’s official Solana cryptocurrency $TRUMP as an accepted payment method on the site. Image/Rivalry

Trump Launched Crypto Coin Friday

Trump launched the meme coin, after having invited the crypto industry to a black-tie event, on Friday evening, three days before the inauguration, set for tomorrow in Washington.

$TRUMP as a payment method will be available to Rivalry users to deposit and wager in jurisdictions which apply to the Company’s Isle of Man license only.

Rivalry Commits to Crypto

Meme coins are attention monetized, and the release of $TRUMP just days before an Inauguration is a quintessential internet and crypto culture-driven moment which enabled it to eclipse $30 billion in fully diluted value shortly after its debut,” said Steven Salz, Co-Founder and CEO of Rivalry. “Rapidly deploying $TRUMP as a deposit method in less than 24 hours is a testament to our ability to identify and lean into these universal cultural moments, layer it into our core crypto gambling experience, and deliver first-of-its-kind experiences to our users.”

Barstool Sports’ Dave Portnoy posted this on X Sunday morning:

“I just woke up. Checked @trump coin. I’m up 200% since I bought it yesterday. Sold it. Made a quick milly. Prob gonna put it on the Bills tonight. I love Trump’s America! Now I’m going back to sleep.”

Trump Crypto Jumps in Value Over 24 Hours

The Trump crypto is up 123.24% in value in the last 24 hours.

Rivalry is also offering customers rewards through Feb. 1, 2025, if they wager onsite with $TRUMP. That includes multiplying the amount of NUTZ (Rivalry’s native token) players earn on every bet by 20x, reflecting the Jan. 20 inauguration date.

Salz says the company will be adding new cryptocurrencies to support the expansion of its crypto gambling segment.

Rivalry’s token product from crypto wallet connected players generated $3 million CAD ($2.1 million USD) in deferred revenue (200% more revenue than the average non-crypto player on Rivalry), according to third quarter financial results (ended Sept. 30, 2024).

Since its launch in 2022, Rivalry’s focus has changed. Esports is still part of the mix, but a spokesperson there said the company has been seeing an appetite for sports and casino, especially as they’ve shifted into crypto and broadened their audience to new personas.