VeChain is a layer 1 enterprise blockchain that focuses on tracking supply chains. In this opportunity we will learn what projects and NFTs collections are being created thanks to the VeChain blockchain.
VeChain is a more enterprise-linked ecosystem. Its blockchain is layer 1 and focused on tracking supply chains. Consequently, the use cases are for digital assurance solutions, authenticity, eliminating counterfeiting, mostly for the food and beverage industry, but also for luxury goods.
On the other hand, VeChain has recently reached a multi-year, $100 million commercial agreement with Ultimate Fighting Championship (UFC). Also, they have a strategic alliance with a fiat-to-crypto bridge called Alchemy Pay, which enables payments with VeChain’s native token and is used in more than 2 million venues worldwide.
VeChain NFTs
After having learned a little about what VeChain is all about and its agreements with other companies, we will learn about the ecosystem that this blockchain is creating around non-fungible tokens.
The VeChain ecosystem is one of the most optimal for creating NFTs, since, digital products are linked to physical products through this non-fungible token technology and accompanied by others such as NFC and IoT.
This company offers different types of solutions for B2B customers. However, there are already projects and secondary marketplaces for digital collectibles (NFTs) that are created with VeChain and are well known in the Web3 culture.
The most successful collections that emerged through VeChain and caught the attention of crypto-users are: VeeKings, Metaversials, Doppelganger, y Shredderz.
In addition, two interesting games that were built on VeChain and have the mechanism known in the ecosystem as play-to-earn and are worth noting are: Metatun, an MMO-RPG game, and. Satoshi Dice.
NFT markets created in VeChain
The NFT marketplace best known to the VeChain community is VeSea. There you can buy, sell and store NFTs, you only need a VeChain compatible wallet such as VeChainThor Wallet o VeChain Sync2. In addition, VeSea does not charge gas fees, but it does charge a 2.5% trading fee and currently the marketplace offers a 100% discount if the user has any assets in their possession of NFTs collections from VeKings o Paper Project.
VeSea works every day to be recognized as a premium market and provides full assistance to new NFT projects through the launch pad. In addition, it provides full minting support.
Another of the other NFTs marketplaces on VeChain is. World of V. This marketplace is compatible with the previously mentioned Sync2 wallet and has a zero fee thanks to the fee delegation mechanism implemented by this project. In addition, it has some commercial partnerships that will make this marketplace compete on equal footing with VeSea. Among the current partners are the companies Blockchain Fintech Safehave y Mad V-Apesa future metaverse of VeChain.
Other applications linked to NFTs in VeChain
Currently, there are different projects and applications being created in the VeChain ecosystem exclusively for use in the non-fungible token industry.
The first one I bring is VeChain.Toolswhere you can explore the NFTs created in VeChain and compare statistics such as floor price between the different collections. Also, there is a bridge or NFT bridge multi-chain for users of this blockchain.
VeaSea has a tool called NFT Recycler that allows to exchange an old NFT for a new one from the smart contract inventory. Users will need to burn 4 $VSEA tokens, the marketplace’s native token.
Another project that I found and deserves a mention is VeFama VeChain project incubator from the GameFi industry. Currently, it has two games under its belt called Zombie Defense y VPunks Arena.
The latest project is 3DAbles, a DApp that uses AI to create NFTs. This project offers a new way to earn passive income through non-fungible tokens.
The latest project is 3DAblesa DApp created by the community, especially by Smuzzies. This tool allows the holder of an NFT to create other works of art using that non-fungible token via AI. Consequently, it will make the NFT no longer inactive in a wallet.
All investment or financial opinions on behalf of NFTexpress should not be taken as recommendations. This article is informational/educational material. Before making any type of investment do your own research.
Written by Rodrigo Catalan (TW: @RodrigoCatalanB) for NFT Express.