VKontakte to add NFT support for monetising content and copyright protection

VKontakte announced support for NFT to monetise user-generated content and protect copyright. «Вести» reports, citing the social network’s chief technology officer, Alexander Tobol.

According to him, VKontakte plans to act as a broker and facilitator, without creating its own blockchain. The social network will use its own Content ID system, which is already used to verify authorship of uploaded music and video.

“The main story here, probably, is about trust in the uniqueness of content. But if you supplement it through Content ID — a guarantee that on this platform or worldwide this content is unique — then, in general, it belongs to you by copyright,” Tobol explained.

The VKontakte chief technology officer also called the initiative “a universal super-cool solution for authors, which opens up a whole new world.” But for this, guarantees of uniqueness and copyright protection in different countries are required, he added.

Earlier, the NFT marketplace Cent stopped trading due to sales of copied and counterfeit tokens by users who did not own the rights to the content.

As reported in January, the OpenSea platform said that more than 80% of NFTs created with the free mint option were plagiarised, counterfeit or spam.

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