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Social media app Parler plans to expand into NFTs -Breaking

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© Reuters. FILEPHOTO: A woman holding a smartphone bearing the Parler logo is seen in front of this illustration, taken on May 17, 2021. REUTERS/Dado Ruvic

(Reuters) – Social media platform Parler announced Monday that it would expand into non-fungible tokens, (NFT), as a way to support the rapid growth in the digital asset over the past months.

A NFT is a digital asset that can be bought in bitcoins or dollars. It includes everything, from photos to videos, and even text. It is possible to track the owner’s record on blockchain. This serves as a public leadger that allows anyone to confirm the authenticity of NFT.

NFTs have been traded since 2017, but they first gained prominence in the early 2021s and later around August.

Parler was the leader of the NFT/Blockchain Technology Venture launched by Melania Trump, ex-first lady United States.

Parler stated Monday that it will keep building its digital offerings with an NFT pipeline to foster creativity and build communities, while also advancing its commitments to freedom of speech and security.

It was created in 2018 to be a social media site. The app is free and open for all speech. Facebook Inc (NASDAQ:), and Twitter (NYSE:). The former U.S. president Donald Trump’s supporters quickly adopted it.

Parler went down for approximately a month, though, after it was cut off by the major tech platforms Apple Inc (NASDAQ), Google parent Alphabet(NASDAQ:) Inc, and Amazon.com Inc. (NASDAQ) Inc., which accused Parler of failing to monitor violent content in connection to the Jan. 6th attack by Trump supporters on the U.S Capitol.

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