Russia’s leading social media platform, Vkontakte, intends to join the NFT space. The ‘Russian Facebook’ has over 70 million active users. Now, it is looking at ways to use blockchain technology and NFTs.
As NFTs and blockchain technology enter the mainstream, major companies are now looking to integrate them into their current systems. Established in 2006, it is a giant platform in The Russian Federation. In fact, Vkontakte is the second most visited website in the country, after Yandex, the search engine portal.
In an interview with Vesti, Vkontakte Technical Director Alexander Tobol discussed entering NFT and Blockchain space. He stated, “It is easy to create an NFT, then list it on an exchange. And here, our task as the largest service in Russia for interaction with [an] audience, with an incredible amount of user-generated content, is to provide this opportunity.”
The move will create a massive opportunity for the 60 million Vkontakte active users to create, buy and trade NTS. The company intends to use both NFT and blockchain technology to monetise user-generated content and protect copyrights.
Meanwhile, to avoid scams, fraud and fakes, Vkontakte will use its current Content ID system for proof of authorship of all content. This move will provide its customers with a greater motivation to use the technology.
It is undoubtedly an exciting time to see a big company such as Vkontakte entering the NFT space. It will allow new talent to arise and for people to find new communities to join.
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