The future is phygital, said VeChain in a recent announcement. If the same announcement is anything to go by, then VeChain stands strong with the concept of mixing tradition and innovation. As Per the announcement by VeChain, it has created a phygital trophy for the Italian Open by leveraging the capabilities of NFC Technology. It is as simple as it sounds; all that needs to happen is the trophy must come in contact with a smart device, and enhanced rewards are unlocked. While the actual list may go on to expand in the times to come, it currently includes images, data, and videos.
The NFT technology has been basically embedded into the cups of physical winners. Cups coming in contact with the smart device triggers the launch of enhanced prizes.
Accolades are not restricted to special trophies, for VeChain has a lot more in store. Specifically for the winners of the ATP Tour and WTA Tour, they stand a chance to win an exclusive non-fungible token, also known as NFT.
NFTs rolled out as a reward to the said winner will act as an added layer of uniqueness and authenticity.
Concluding the announcement, VeChain expressed pride in being a phygital bridge for all its partners. VeChain aims to explore new opportunities to make interactions more dynamic and engaging.
The community has taken this development pretty well. Some of them remain curious about the reactions of a winner. However, it can be known only when the finals conclude, and there are definite names at hand. One user has appreciated these efforts, citing that VeChain is more likely to get the first mover’s advantage.
VeChain, an enterprise-grade layer-1 blockchain solution, is known for maintaining a smart contract platform that is highly scalable and emits the lowest possible carbon.
The development follows an announcement by VeChain where it had shared the intention of turning traditional into phygital. This announcement can be traced back to May 02, 2023, wherein it was clarified that the blockchain technology of VeChain will come into play once it has been integrated into the trophy won by a winner.
Tennis trophies carry a chip that later showcases the digital version of the NFT, based on the trophy that is won by a particular player.
This mechanism demonstrates tangible use cases of blockchain technology, spreading the arms to cover more audiences on a global level. The previous announcement further expressed confidence that the international tennis event will serve as a catalyst and enable them to create a network with brands & businesses.
Having said that, the community may want to keep an eye on the price at which $VET is exchanging hands. The figure was last recorded at the time of drafting this article for the number of $0.01956.
The integration of VeChain and the Italian Open is now live. Winners at the international tennis tournament will take home an enhanced prize along with the trophy.
Source: https://www.cryptonewsz.com/vechain-introduces-the-phygital-future-to-the-italian-open/