VeChain (VET) With Proven Case Studies and Technical Features in NFT related ApplicationsOctober 4, 2020
Non-fungible tokens (NFTs) are unique assets, which can be maintained and tracked on the blockchain networks. NFTs get increasingly deployed in various sectors like arts, collectibles, and gaming. There has been a rapid development of the NFT ecosystem. The total market capitalization of all NFTs might touch $315 million by the end of 2020.
VeChain Tweeted: “Ready for the next big thing in #blockchain? Are you a dev/startup focusing on NFTs? VeChain powered NFT Projects Earn More. Stop paying millions of $$ in gas fees and SwitchToVeChain now! Thanks, VIMworldglobal & itemsdapp for the data & quotes!”
VeChain is the leading enterprise-friendly public blockchain platform. They are pioneers in connecting NFTS with the real world. VeChain provides a purpose-built NFT toolset, which permits for NFTs with real-time utility.
VeChainThor Blockchain has several proven case studies and technical features established in real-time. It gets used to build NFT-related applications. The blockchain provides secure, high-speed, and stable protocol combined with features that will help remove the difficulties of blockchain, eventually providing comprehensive support to applications that have real value. Foundation Grants are also available for migrating of NFT Projects to the platform.
Sydney Ifergan, the crypto expert, tweeted: “VeChain (VET) is already hailed to be the solution to improve on global food safety. I see more industries are joining the list. “
Of note, VeChain is a member of the the China Animal and Food Safety Alliance (CAFA)! At CAFA, they are the sole public blockchain tech provider in the alliance, providing technical and infrastructural support for more than 130 council members.
VeChain (VET) Tokenized Assets From Several Industries
The use cases for VeChain are many. This consists of tokenized assets from several industries like supply chains, software licensing, real estate, identity management, medical licenses, law degrees, enterprise certifications, and more.
The VeChain NFTs gets widely used in luxury products, wines, F&B, and third party certifications in the industry. Reebonz, NFT-based authentication on the VeChainThor blockchain, has facilitated a tracking system for luxury products to ensure the authenticity of the products, like handbags, leather goods, etc.
Like the DNV GL, SBTG, and others, several other companies are making use of NFT-based technology for data management and traceability.
VeVote, the Vechain voting platform, is where the stakeholders will present and vote depending on their stakeholder status of Economic X Nodes and Economic Nodes, which is also NFT-based.
LunarCrush Social Listening for Cryptocurrencies recently tweeted about VeChain social engagements as being +161.8% over the last 12 months with 725,054,926 total engagements. This metric looks at deeper interactions like comments and retweets and seeks to identify active community participation.