The social network VKontakte announced support for blockchain and NFTs – Bits Media

The largest Russian social network VKontakte intends to give users the opportunity to earn money on non-fungible tokens.

Technologies will be included in platform services for monetization of user content and copyright protection, said the company's technical director Alexander Tobol in an interview with the Vesti television program. NFT is a digital certificate of uniqueness, which guarantees, that content cannot be stolen, explained the technical director.

Tobol emphasized, that the company does not plan to develop its own blockchain, but will only act as an intermediary:

“The goal is to provide the ability to download content, easy to create an NFT token, then place it on the stock exchange. And here is our mission, as the largest service in Russia in terms of audience coverage with an incredible amount of user content, - provide the user with this opportunity".

To stop attempts at fraud or plagiarism, VKontakte is going to use its Content ID system, which now serves to verify the authorship of downloaded music and videos. According to Tobol, in the coming years, thanks to blockchain and NFT, the social network will change dramatically.

Recall, in 2019 year, according to RNS news agency sources, this Russian social network was studying the issue of issuing its own cryptocurrency.