No More Heroes 3 has just been released, and many players are curious to know the fate of Travis Touchdown, the game's main character. Upon defeating the main game, many players feel there is a lack of information given. The good news about this is that you don't have to do anything particularly special to see the True Ending.
Suda51, the development company for the No More Heroes series, has firmly established that Travis Touchdown will not be returning for another game. While this doesn't necessarily mean the No More Heroes franchise is over, most people understood that to be implied. However, upon completing the game, you can see why this might not be the case by waiting for the credits to finish to watch the true ending.
This is a blessing to many players, but could be considered a let down for others. There isn't any special condition you need to meet to see the true ending, and instead, the game seems to wrap up the true fate of the characters by simply rewarding the players for waiting an extra couple minutes after they beat the game.
The True Ending is simply a short animated film. In it we meet Jess Baptise V, who is FU's (Jess Baptise VI) father. After what he considers being failed negotiations with Travis, he declares he will take over the earth. He is immediately killed by two people who claim to be Travis's twins from a future where Henry Cooldown (from the previous games) defeated Travis and teamed up with the Aliens to conquer earth. They then declare that they need Travis's help.
That certainly leaves room for a future game!