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Social media app Parler plans to expand into NFTs

December 21, 2021

Social media app Parler plans to expand into NFTs

Social media platform Parler said on Monday it will expand its business into non-fungible tokens (NFT), in a move that supports the rapid growth of the digital asset in recent months.

An NFT, which is a computerized resource usually purchased with digital currencies or in dollars, encompasses everything from images, videos to text. The ownership record is tracked on the blockchain, which fills in as a public ledger allowing anybody to check the NFT’s authenticity.

Traded since around 2017, NFTs at first gained popularity in mid-2021 and then around August.

Last week, previous U.S. first woman Melania Trump launched a NFT and blockchain technology venture, which was led by Parler.

“Parler will keep building its digital offering with a NFT pipeline that forms networks and fosters creativity while furthering its commitment to free sppech and security,” the organization said in a statement on Monday.

The application was launched in 2018 as a web-based media site, styling itself as a free-speech space for those looking for a choice to major important like Facebook Inc and Twitter. It immediately gained traction from supporters of previous U.S. President.

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