THELOGICALINDIAN - Russias better amusing media arrangement Vkontakte has appear its activity to acquaint abutment for blockchain and NFTs The crypto technologies will be congenital into the platforms arrangement for monetization of user agreeable and absorb protection
Vkontakte to Facilitate Use of Non-Fungible Tokens
The arch Russian amusing media platform, Vkontakte, intends to advance blockchain technology and non-fungible tokens (NFTs), the company’s Technical Director Alexander Tobol apparent in a contempo account with Vesti.
Both will become allotment of a set of accoutrement for monetizing user-generated agreeable and attention copyrights, the controlling explained. An NFT, Tobol elaborated, is a agenda affidavit of uniqueness, ensuring it’s absurd to coin the agreeable which is affirmed by an access into a broadcast ledger.
Tobol added emphasized that Vkontakte is not advancing to advance its own blockchain. The accepted amusing media arrangement intends to act as an agent and abetment in its implementation. He added elaborated:
The all-around bazaar for non-fungible tokens has been estimated to be amid $20 billion and $35 billion a year, and the anticipation for 2025 stands at about $80 billion, Vesti credibility out. The address notes, however, that the capital botheration associated with NFTs is fraud.
Opensea, the better agenda art marketplace, has accustomed that over 80% of all NFTs created application its chargeless apparatus are either affected or aggregate plagiarism. Citing agnate reasons, addition NFT marketplace, Cent, has altogether abeyant the trading of photo and audio NFTs.
To abode the issue, Vkontakte will additionally use its absolute Agreeable ID arrangement for analysis of antecedent of all downloaded music and video content, both aural the amusing arrangement and in the databases of the world’s better labels.
Vkontakte’s move comes after, in January, letters appear that Facebook’s buyer Meta is advancing to acquiesce users of the world’s arch amusing media arrangement to actualize and advertise NFTs. The plan is allotment of efforts to tap into the growing bazaar of agenda collectibles.
What do you anticipate about Vkontakte’s accommodation to acquaint abutment for NFTs? Let us apperceive in the comments area below.
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