In the grand theater of life, where fortunes rise and fall like the tides of the Volga, the Kremlin-backed social network VK has decided to close its NFT platform, a venture that was as fleeting as a summer’s day. This decision, made in the shadow of deepening losses, is akin to a peasant selling his last cow to pay off a debt, with a planned share issue of $1.36 billion to alleviate the burden of financial despair.
As the clock strikes April 15, the curtain will fall on VK NFT Hub, a marketplace that was birthed in the winter of December 2022, only to wither away in the spring of 2024. The loyal users, those brave souls who dared to invest in the ephemeral world of non-fungible tokens, are now urged to transfer their precious tokens to external wallets, lest they find themselves bereft of their digital treasures.
After the fateful date, the once-glorious neon diamonds that adorned avatars like jewels on a royal crown will vanish, leaving behind a void as profound as the silence after a great battle. Those who purchased NFTs for the sake of this ostentatious feature will be left with nothing but memories and perhaps a touch of regret. The NFT team, in a display of gallant optimism, assures the community that existing content will remain, though the future of VK’s foray into the realm of digital assets hangs in the balance, much like a sword of Damocles.
As VK grapples with the weight of its financial burdens, the company’s net loss has nearly tripled, soaring to a staggering 94.9 billion roubles (approximately $1.1 billion), a figure that would make even the most stoic of accountants weep. This is a sharp increase from the previous year’s loss of 34.3 billion roubles, a trajectory that resembles a tragic spiral into the abyss. In a desperate bid for survival, VK has unveiled plans to raise up to 115 billion roubles through a new share issuance, a move that echoes the cries of a drowning man grasping for a lifeline.
It is understood that these funds will be directed towards alleviating the crushing weight of debt, a burden that has become all too familiar in the world of digital commerce. As reported by crypto.news, March marked a turning point, with a series of marketplace closures that have intensified the atmosphere of uncertainty. Notable casualties include the South Korean tech giant LG, which has shuttered its LG Art Lab, alongside the closures of X2Y2 and Bybit’s NFT marketplace, among others. Ah, the irony of it all! In a world where digital assets were once heralded as the future, we now witness a comical unraveling of dreams, leaving us to ponder the true value of our virtual pursuits.
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2025-04-07 12:32