According to PANews, Russian social media giant VK has announced the closure of its NFT marketplace, 'VK NFT Hub,' on April 15 due to escalating financial losses. The company reported a net loss of 949 billion rubles (approximately $11 billion) in 2024, nearly three times the loss recorded in 2023. VK advises users to transfer their NFTs to external wallets before the shutdown to avoid losing access.

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