VK will shut down its NFT marketplace on April 15 following a massive financial loss. The company aims to issue $1.36 billion in new shares to manage its debt and has advised users to transfer their NFTs to external wallets before the closure.
The closure of VK NFT Hub is reflective of a larger trend in the NFT sector, which has seen dwindling interest and trading volumes, mirroring previous economic downturns. Other platforms like X2Y2 and Bybit have also ceased operations.
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