By linking a crypto wallet to their account, Vkontakte users can view these tokens in the form of avatars or in a special showcase on their profile.
Social media platforms around the world have adopted non-fungible tokens (NFTs) and Vkontakte, Russia’s largest social media network, I participated trend. According to the latest details, Vkontakte will allow users to upload their digital collections to the platform.
Additionally, Vkontakte account holders will soon be able to establish a marketplace for non-fungible tokens (NFTs), so they can also be bought and sold in the future. According to local news reports, the platform has also introduced his NFT service along with an educational course on NFTs.
At a presentation in Moscow, VK CEO Marina Krasnova and CTO Alexander Tobol announced that the new features will be available to all users in a few days. The VK NFT option allows digital collection owners to transfer them to their accounts.
Users can display these tokens in the form of avatars or in a special showcase on their profile. However, to do so, you will need to link your cryptocurrency wallet to your account. “Our job is to simplify user interaction with NFTs and make it a truly large-scale technology,” she comments Krasnova.
Vkontakte with NFT hub
Vkontakte, Russia’s largest social media platform, said it plans to launch an NFT collection in January 2023. After that, he plans to launch a full-fledged NFT marketplace, giving users the opportunity to buy and resell collectibles.
Vkontakte plans to integrate NFT technology into other products such as games and gifts. The social media platform added that he wants to create his NFT hub with announcements, news, market analysis, and case studies. Vkontakte said the team will use the space to exchange ideas with the NFT community and look for potential partners.
Russian authorities are simultaneously working to expand the legal framework to cover more relevant activities and products. To regulate the NFT space, the Russian Ministry of Economy has been working on amendments.
Earlier this year, Sberbank, one of Russia’s largest banks, announced that it would allow customers to create their own NFTs on the Sberbank blockchain platform.
Bhushan is a FinTech enthusiast and has a great knack for understanding financial markets. His interests in economics and finance focus on the emerging blockchain technology and cryptocurrency market. He is in a continuous learning process and keeps himself motivated by sharing what he has learned. In his spare time, he enjoys reading thriller novels and honing his cooking skills.
