Daily Management Review

Plans Of Expansion Into NFTs Announced By Controversial Social Media App Parler


Plans Of Expansion Into NFTs Announced By Controversial Social Media App Parler
The popularity of non-fungible tokens (NFT) is steadily growing around the world. 
The latest company to join the bandwagon is the social media platform Parler which has recently announced its decision to venture into NFTs marking the rapid pace of this digital asset into many industries of the world in recent months. 
Typically, NFTs are digital assets that are purchased using cryptocurrencies or in dollars. NFTs can be made in a wide range of areas – from images, videos to text. The uniqueness of NFTs is that owners of these digital assets are recorded and track-able since it is based on blockchain technology – a type of electronic a public ledger and it permits anyone to verify the authenticity of NFTs.
NFTs have been traded since 2017. The digital asset initially gained popularity towards the beginning of the current year and then again in August this year.
An NFT and blockchain technology venture was launched last week by the former United States first lady Melania Trump. That venture is led by Parler.
"Parler will continue building its digital offering with an NFT pipeline that builds communities and fosters creativity while furthering its commitment to free speech and security," the company said in a statement on Monday.
The app was first launched in 2018 as a social-media site. In initially the social media was fashioned and promoted as an online space for free speech and was designed for those users who sought an alternative to major platforms such as Facebook Inc and Twitter. The platform gained popularity very quickly among the supported the former US president Donald Trump.
However, in less than a month after the social media app was dropped from their platforms by major technology platforms Apple Inc, Google parent Alphabet Inc and Amazon.com Inc, Parler went dark. Back then, the big tech companies had alleged that the app had failed to curb violent content linked to the January 6 attacks, in which several people were killed including policemen and security officers, on the US Capitol by Trump supporters.