The conservative social media network Parler has taken its first steps into the business of non-fungible tokens, commonly known as NFTs.
Parler announced on Tuesday that it was launching a new “premium branded marketplace” on the internet titled “DeepRedSky.” One of the first series of NFTs that the marketplace will release is the Official CryptoTRUMP Club series.
This collection of 250 NFTs features “the one-of-a-kind personality of the 45th President of the United States. Each CryptoTRUMP is unique, with images of former President Donald Trump in various settings and elements,” according to a press release.
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Parler CEO George Farmer sees this move as the first step toward Parler becoming a “frontrunner in Web3 technologies.”
“As promised, Parler is launching its inaugural NFT marketplace that will become the new standard in premium branded NFTs,” Farmer said in a press statement.
DeepRedSky will offer a “far more full-service provision” than what other popular NFT marketplaces offer, Farmer told Forbes. This will come at a higher transactional cost. While marketplaces such as OpenSea take 2.5% per transaction, DeepRedSky will take a larger cut in exchange for offering the additional service of creating, marketing, and distributing their own NFTs.
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Parler had previously invested in NFTs when it partnered with former first lady Melania Trump to provide the processing power to support her series of NFTs. Melania released her first NFT, “Vision,” in December 2021 and additional versions in the following months. However, coders noticed that the transactions connected to the purchase of a Melania Trump NFT released in late January appear to have been funded by the people who made the original NFT.
Melania announced an “exclusive relationship” with Parler in early February, where her posts would only appear on Parler.
