Talking App NFT: Given the craze for digital assets, the Talking social media app plans to expand into NFTs

Social media platform Speak announced on Monday that it would expand its business to non-fungible tokens (NFTs), which has underpinned the rapid growth of the digital asset in recent months.

An NFT, which is a digital asset typically purchased with cryptocurrencies or dollars, encompasses everything from images, videos to text.

The ownership record is tracked on the blockchain, which serves as a public ledger for anyone to verify the authenticity of the NFT.

Traded since around 2017, NFTs first gained popularity in early 2021 and then around August.

Former U.S. First Lady Melania Trump last week launched an NFT and blockchain tech company, led by Parler.

Parler will continue to expand its digital offering with an NFT pipeline that builds communities and fosters creativity while strengthening its commitment to free speech and security, the company said in a statement Monday.

The app launched in 2018 as a social media site, promoting itself as a free speech space for those looking for an alternative to major platforms like Facebook Inc and Twitter. It quickly gained ground with supporters of former US President Donald Trump.

Talking, however, went off for about a month after being cut off by major tech platforms Apple Inc, Google’s parent company Alphabet Inc and Inc, which accused the app of not having Controlled violent content linked to the deadly Jan.6 attack on the United States Capitol by Trump supporters.

Sylvia B. Polson