The Russian social media company VK closes the NFT market

VK, one of the largest social media platforms in the Russian Republic, has announced plans to close the uninterrupted code market. The social media company will close its uncomplicated symbolic market next week, April 15, 2025. VK will join other prominent companies, such as X2Y2, Kaken, and Bybit Crypto Exchang, which also closed its NFT markets.

VK closes the NFT market

In a post on April 7, the Kremlin VK social media network confirmed plans to close the NFT platform, VK Nft Hub, this month. The social media company VK will finish providing its services for non -applicable symbols on April 15, 2025. The social media company has advised its users to transfer the unmarried unique symbol groups to external encryption portfolios before the deadline.

VK will close its NFT center on April 15 after a net loss of $ 1.1 billion in 2024, as the broader digital area contracts. Users are advised to transfer assets.#Nft #Web3https://t.co/fndcu5ast7

– Cryptonews.com (Cryptonews) April 7, 2025

Moreover, the company has announced plans to remove special visual signs on NFTS, leaving the users who bought NFTS for this feature without anything. However, the NFT team confirmed that the current content in the VK NFT community will remain, although it is unclear whether VK is planning to return to NFTS or digital assets in the future.

VK Nft Hub was launched in December 2022, which is a digital market platform that allows encryption traders in Russia to buy, sell, sell and circulate symbolic groups. The NFT market started the trip well but failed due to the low performance in the NFT market. Since then, VK has faced financial pressure as the company has doubled almost three times in 2024 to 94.9 billion rubles (about $ 1.1 billion), an increase of 34.3 billion rubles in 2023.

Companies that came out of the NFT market

The VK social media platform joins the list of rapid encryption projects that came out of the NFT market. Last year, Krakeen Crypto Exchange closed the NFT market platform. Earlier this year, Blockchain Gaming Giant Animoca Marketplace Quide Nft. In March 2025, X2Y2 also closed the NFT market. Last week, BYBIT CEX also closed the NFT market.

Related NFT News:

Best portfolio – diversification of your encryption portfolio

• Easy to use
• Get early access to iCOS, the next distinguished code
• Multiple, multi -province, non -guardian
• Now in the application store, Google Play
• Class to earn the original code is the best
• More than 250,000 active monthly users