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Kanye West to purchase Parler, a cryptocurrency-friendly social media platform

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 Kanye West to purchase Parler, a cryptocurrency-friendly social media platform



According to Parler, controversial musician and former U.S. President Donald Trump supporter Kanye West has made a preliminary agreement to buy the right-leaning social networking site.

Ye, who is familiar with Bitcoin and cryptocurrencies, voiced the technology's virtues during an interview on The Joe Rogan Experience in October 2020. The genuine freedom of America and humanity, according to the bitcoin folks, will be, he continued. 

Later, a picture of Ye sporting a "Satoshi Nakamoto" hat circulated on social media.

West's Twitter and Instagram accounts were suspended earlier this month for what the networks claimed "antisemitic comments," but he won't have to worry about that with his own platform now that he has purchased Parler. 

The contract is anticipated to be finalized in the fourth quarter of 2022, according to Parler. It will include continuous technical assistance from Parlement Technologies, the parent firm of Parler.

Parler, which was introduced in September 2018, has long positioned itself as a free-speech Twitter substitute. Parler was taken down from the Google Play and Apple App stores after the violence in the capital on January 6. Parler was also kicked off of Amazon Web Services (AWS), according to the internet giant, for failing to monitor problematic and violent content. 

On February 15, 2021, Parler began operations with additional content filters. On May 17, 2021, the Apple App Store received the app back, and on September 2, 2022, Google Play received it. Parler reported the raise of $16 million in Series B funding in the same month.

According to analytics firm SimilarWeb, Parler received 1.3 million visitors to their website in August. In contrast, Trump's Truth Social saw 9 million monthly visitors, 6.8 billion on Twitter, and 18.2 billion on Facebook.

DeepRedSky, Parler's NFT marketplace, was introduced in March. Trump's picture was used in a line of digital art called "CryptoTRUMP Club" for the initial launch. The Babylon Bee, Brandon Tatum, and POTUS TRUMP NFT collections, led by the former first lady Melania Trump, are examples of later collections. 

After introducing a unique line of NFT collections on the Solana blockchain, Melania Trump generated her own buzz. The Solana Foundation soon cut ties with the endeavor.

A spokeswoman told Decrypt, "I wanted to inform you, to avoid any mistake, that her choice to use the Solana blockchain was purely organic, and her project is not part of any Solana-led push." 

NFTs, or non-fungible tokens, are cryptographically distinct tokens tied to physical and digital goods, memberships, or other forms of ownership that serve as proof of ownership.

Regarding the likelihood of West becoming the owner, Parlement Technologies is upbeat. 

The CEO of Parlement Technologies, George Farmer, wrote in a blog post that the agreement "will transform the world, and change the way the world thinks about free expression." "Ye is creating new ground in the field of free speech media, and he'll never have to worry about getting banned from social media ever again.

"Ye once more demonstrates that he is one step ahead of the narrative presented by the legacy media, said Farmer. "Parlement will be proud to assist him in achieving his objectives." 

Decrypt has contacted West and Parler's representatives for comment, but they have not yet returned.

Article Credit: Decrypt

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