Russia's largest social network VK is planning to join the NFT bandwagon by allowing its users to monetize content with the help of non-fungible tokens (NFTs).
In an interview with Vesti, VK CTO Alexander Tobol said the social network doesn't have yet decided which blockchain it plans to use for NFTs. He noted though that the social network wants to allow users to trade NFTs on various marketplaces, including Solanart and OpenSea.
Our job here is to provide the ability to download content, easily create an NFT token, and then place it on a marketplace.
He also added that VK is currently studying whether it can use its own verification system called "Content ID" to check the content's authenticity:
If this whole story on the one hand, with a guarantee of uniqueness, [and] on the other hand with copyright in the territory of various countries, is united around the blockchain and NFT, then this is a truly universal super-cool solution for authors that opens up a whole new world.
Tobol didn't elaborate though when exactly VK might add support for blockchain and NFTs nor how this support will eventually look like. The move comes after reports said Meta may also be working on an NFT marketplace for both Facebook and Instagram.
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The social media giant reportedly wants to allow users to mint, store and sell NFTs through its own marketplace. The new feature will also allow users to display their digital collectibles on their social media profiles.