VKontakte (VK) Developing Own Cryptocurrency; Hints at a Lucrative Future for Digital Asset

VKontakte, a popular social media platform in Russia, takes a plunge into the cryptocurrency market.

The crypto industry, without a question, has been growing in a very effective manner over the past few years. However, the continuing bear trend has sent the overall market sentiment towards a very low point. But the growing trend of social media giants getting interested in entering the industry is creating a prominent indication of this future prospect and importance. The social media companies function on the front position of the general public, have shown their quickness to accept crypto is curving another signal of a bigger trend for futuristic mainstream adoption.

A recent report from Russian news outlet RNS, informs that VKontakte (VK), which is the most popular social media platform in Russia is in the process of developing their own cryptocurrency. It will be placed directly before all of the site’s nearly 100 million active monthly users.

The company plans hinted at a final decision on whether to launch the crypto or not has not been made yet. But if they do move forward with their plans, the current configuration of the project requires having a crypto account created for each individual user’s account on the site. According to the source, the current configuration of the project involves the creation of individual accounts to accumulate cryptocurrency for all the users of the social network.

The addition of the new crypto will add a number of new features as well to add to the platform that will help the users to easily monetize the content, as users will be able to receive the crypto for publishing interesting contents, and for receiving likes, reposts, and comments.