Parler Social Media Platform, Will Turn Its Business Into NFT

Parler social media platform, venture into NFT business. (photo: parler screenshot)

JAKARTA - Social media platform Parler, said on Monday, December 20, that it will expand its business into non-fungible tokens (NFT), in a move that has supported the rapid growth of digital assets in recent months.

NFTs, which are digital assets typically purchased with cryptocurrencies or dollars, include everything from images to videos to text. Ownership records are tracked on the blockchain, which functions as a public ledger that allows anyone to verify the authenticity of the NFT.

Trading since circa 2017, NFT initially gains popularity in early 2021 and then around August.

Last week, former US first lady Melania Trump launched her NFT and blockchain technology venture, spearheaded by Parler.

"Parler will continue to build on its digital offerings with NFT channels that build community and encourage creativity while continuing its commitment to free speech and security," the company said in a statement Monday, December 20.

The app launched in 2018 as a social media site, setting itself up as a free speech space for those seeking alternatives to mainstream platforms like Facebook Inc and Twitter. It quickly gained traction from supporters of former US President Donald Trump.

Parler, however, was in the dark for about a month after being cut off by major tech platforms Apple Inc, Google parent Alphabet Inc and Amazon.com Inc accusing the app of failing to monitor violent content, linked to the deadly January 6 attacks on the US Capitol by Trump supporters.