The parlor is expanding into NFTs to tap the growing digital asset

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Social media platform Parlor on Monday said it was expanding its business into non-funky tokens (NFT), which supports the rapid growth of digital assets in recent months.

An NFT is a digital property commonly purchased in cryptocurrencies or dollars, covering everything from images and videos to text. The owner record is monitored on the blockchain, which acts as a public ledger that allows anyone to verify the credibility of the NFT.

Traded around 2017, NFTs became popular in early 2021 and then in August.

Last week, former US First Lady Melania Trump launched the Parlor-led NFT and Blockchain technology initiative.

“Parler will continue to build its digital offering with the NFT Pipeline, which will build communities and nurture creativity, while further enhancing its commitment to free speech and protection,” the company said in a statement on Monday.

The app was launched in 2018 as a social media platform for those looking for an alternative to major sites like Facebook and Twitter. It quickly gained traction from supporters of former US President Donald Trump.

However, the parlor was dark for about a month after it was disconnected by major tech sites such as Apple, Google parent Alphabet and Amazon.

© Thompson Reuters 2021


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