​VKontakte launches VK NFT service

What’s new? VKontakte launched the service VK NFT, with the help of which users of the social network will be able to put non-fungible tokens (NFTs) on their avatars or place them in the showcase of the profile. The company also announced the launch of its own NFT marketplace and the integration of the technology into other products of the platform. CEO Marina Krasnova and CTO Alexander Tobol revealed this at the presentation VK NFT Launch in Moscow.

VK’s press release

Details on the service’s operation. Krasnova said that VK NFT is “the first step not only to a new stage in the development of the social network but also to the global change in the landscape of Web 3.0 technologies.” According to her, the task of the service is to simplify user interaction with NFTs and to make the technology truly mass. Krasnova noted that non-fungible tokens will open new opportunities for users to express and personalize their virtual profiles, and for creators will open new tools to monetize their creativity.

Tobol also said that VKontakte, as Russia’s largest service in terms of audience and volume of user-generated content, could make Web 3.0 technologies “really massive and accessible.” He explained that authors will be able to create a token in a couple of clicks, place it on the marketplace and earn money from their creativity. This will also help in finding an audience and promoting collections among users of the social network.

According to Tobol, NFTs solve the problem of self-actualization in the digital world. By what tokens a person owns, it is possible to determine their status, and interests, and reveal their personality, he explained. Tobol stated that in the future it will be possible to upload unreleased tracks of popular artists or unique art objects directly to the profile and to set a single NFT avatar in different games.

VK NFT will allow users to transfer the digital assets they already have to their accounts. To install them on an avatar or showcase, you need to link your crypto wallet to the service. NFT avatars are highlighted by a neon hexagonal frame. In addition, in the service, you can see which of your friends and celebrities have installed tokens on their pages. You can also share your avatar in a post or story on your personal page.

A new section will appear in the user profile where you can put NFTs from your collection. According to the press release, details such as ID, name, collection, owner, contract address, and additional value (unique rewards or bonuses received at purchase) are available for each token in the showcase. An unlimited number of NFTs can be added to the showcase. In a few days, the new features will be available to all users, including on iOS.

For beginners to the service, a training course is available, which consists of seven blocks dedicated to various topics, from basic data about the blockchain to a review of the process of creating NFTs. Users will receive unique emoji statuses for completing the course and assignments.

VKontakte also showed a teaser of its first NFT collection. Digital artists Zhenya Zubkov, Misha Liberty, and Ruslan Vyaltsev took part in the creation of artworks. The latter was the creative curator of the project. The main character of the collection became Spotty, an unofficial mascot of the social network. The collection consists of generative pictures assembled from various elements, the totality of which determines the rarity of each token. It also includes unique tokens and easter eggs. The drop is scheduled for January 2023.

Tobol reported in February that the social network plans to use NFTs as a tool to monetize user-generated content and protect copyrights. Also in May, VKontakte announced the launch of its own NFT marketplace and the creation of the metaverse.

In August, VKontakte announced a large-scale upgrade to the interface of its mobile application. It should become the basis for the integration of new features, including those related to NFTs and Web 3.0. The first phase of the upgrade began on August 9.