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Russian Social Media Giant Vkontakte Launches NFT Service

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Joyashree Dey Follow

INDIA

Dec, 16 2022

Dec, 16 2022

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According to a story on the crypto page of the Russian business news portal RBC, which was cited by the company, the top social networking platform in the Russian-speaking market, Vkontakte (VK), has launched an NFT service coupled with an instructional course on non-fungible tokens (NFTs).


As per VK CEO Marina Krasnova and Chief Technology Officer Alexander Tobol at a presentation in Moscow, the new functions will soon be accessible to all users. Owners of digital collectibles will be able to transfer their things to their accounts using the VK NFT option.


The new functionalities will soon be available to all users, according to VK CEO Marina Krasnova and Chief Technology Officer Alexander Tobol at a presentation in Moscow. Digital collectable owners will be able to use the VK NFT option to transfer their items to their accounts.


The tokens can also be shown in a unique showcase on the profile or used as avatars. You must connect your bitcoin wallet to your account in order to achieve this. "Our objective is to simplify user engagement with NFT and make it truly a mainstream technology," stated Krasnova.


A NFT hub will also be established by VK where case studies, market research, and news may be shared. The insider claimed that the platform's staff would utilise the space to As Krasnova stated, "Our task is to simplify user interaction with NFT and make it truly a mass technology."


A NFT hub will also be established by VK where case studies, market research, and news may be shared. The section would be used by the platform's developers to communicate with the NFT community, exchange ideas, and seek out potential partners, the insider claimed.


Russian Social Media Behemoth Vkontakte Announces the Launch of NFT Service:

The tokens can also be shown in a unique showcase on the profile or used as avatars. You must connect your bitcoin wallet to your account in order to achieve this.


In order to allow users to buy and trade memorabilia, Vkontakte wants to introduce its own NFT collection in January 2023 and a full-fledged NFT marketplace in the future. The market leader in social networking will incorporate technology into all of its services, including games and gifts.


A report from July claims that the Ministry of Economy is revising the rules governing NFT space. The largest bank in Russia, Sber, said in September that it will allow the issuing of NFTs on its own blockchain platform. 


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Joyashree Dey

CBW - External Analyst

INDIA

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