- VeChain Foundation has publicized that it newly minted a non-fungible token (NFT) estimated at €1.5, portraying a real listing of an Italian automobile firm.
- In line with the announcement, VeChain, and SupplyMECapital are creating new capital-raising structures without suffering debt but by clicking on the NFT skills.
- By the use of the VET ecosystem, VeChain plans to transform funding structures to conform with current assets as well as liabilities.
The chief executive officer at VeChain Foundation, Sunny Lu, revealed;
This collaboration draws to market a highly revolutionary solution that hires emerging digital technologies to resolve a decades-old issue for businesses on a global front. By deploying this, our firms jointly are capable to restrict a requirement for overproduction, publicizing sustainable global development, advancing cash flow for the business, and making a new digital asset class that gives capital straightly to the real economy. We seeking forward to introducing, phase 2 of our alliance to include our community and the remaining of the crypto market in this troublesome step.
VET coin has got about 4.5% in the past week to trade at about $0.01871. Nevertheless, the VET ecosystem has lost about 84% of its worth in the last year after the sustained crypto bear market.
On the way to regain clients’ trust
After the disintegration of FTX and Alameda, blockchain firms are seeking paths to retrieve clients’ faith. In line with the top crypto investors and leaders, creating stronger bridges is a tool for retrieving clients’ faith. Although, because of the lost faith in the crypto market, firms are putting more money into generating capital. Monetizing firm listing is the first priority for VeChain and SupplymeCapital.
Moreover, the scale of the market for listing monetization is enormous in terms of the global economy.
“Our Inventory Monetisation service provides a new, more cost-effective option for businesses to go along with crucial levels of working capital,” Alessandro Zamboni, the chief executive officer at Supply@ME, revealed.
VeChain has, although, not identified the Italian automobile firm that minted the NFT. Nevertheless, as per the data given by vechainstats, the NFT contract demonstrates it was minted on October 25.
The utilization of digital artwork to generate capital funds has increased drastically in the last few years. Moreover, the NFT market occurs to use auctions with floor prices which open doors for wash trading. Furthermore, it is likely that an NFT owner will purchase and sell their product to make fake trading volume.
Source: https://www.thecoinrepublic.com/2022/12/05/vechain-mints-e-1-5-million-nft-from-italian-automobile-company/