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As Russia continues to dominate the headlines, news of its blockchain endeavours has filtered through the cracks. As such, the country’s largest social media platform, Vkontakte, has revealed its plans for the blockchain.
Following in the footsteps of its western equivalents, Vkontakte will integrate blockchain and NFT technology into its service, providing users with a method to monetize their content and enable an additional level of copyright protection.
Company director, Alexander Tobol, revealed that they will not operate on their own blockchain, instead choosing to build upon existing tech. However, Vkontakte intents to develop its own set of management tools that will sit alongside it. In addition, to ensure the legitimacy of the digital items involved, the platform will use its existing content identification system. A high-tech solution that will ensure verified ownership of all the assets concerned.
The move echoes that of many other social media platforms across the globe. With the likes of Facebook, Twitter, YouTube, Reddit and many more all ramping up their association with blockchain technology. However, such high-profile attention is met with more than a little trepidation, as to the directions they wish to take it in.
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*All investment/financial opinions expressed by NFT Plazas are from the personal research and experience of our site moderators and are intended as educational material only. Individuals are required to fully research any product prior to making any kind of investment.
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