New Era For VeChain: Marketplace Platform Unveiled, Price Spike Looming?

Godspower Owie

1 year ago

3 mins read

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In a new development, VeChain (VET) has announced the introduction of its latest No-Code Tokenized Asset Marketplace-as-a-Service platform (MaaS), fueling optimism within the community of an impendent price uptick.

The announcement also featured the collaboration of the MotoGP racing team Gresini Racing as its first enterprise client. By collaborating with Gresini Racing, an enormous fan base will be offered digital collectibles through the MaaS platform.

VeChain To Onboard A Rapid Tokenizing World

With the launch of its No-Code Tokenized Asset Marketplace (MaaS) platform, VeChain has made tremendous progress toward increasing mass adoption of blockchain technology. VeChain’s continuous goal to promote widespread blockchain technology adoption by removing technological hurdles is consistent with this user-friendly strategy.

Since its founding, VeChain has created several use cases powered by blockchain applications. These include product authentification, creating new digital communication channels, provenance and sustainability traceability, and others. This demonstrates its understanding of the tremendous potential that its technologies have for Web 3.

Given the rise in demand for tokenizing Real-World assets (RWAs) solutions, the introduction of MaaS seems appropriate. Furthermore, NFC functionality and support for “Phygitals,” or real-world physical assets with NFT/digital counterparts, will be added later in the platform.

Specifically, this innovation was created to significantly influence the digital asset market. It aims to provide enterprise and individual builders with an “easy-to-use white-label NFT platform for digital asset sales” and transfers that require little to no programming.

MaaS applications are diverse and address the increasing need for platforms that enable asset tokenization. Blackrock‘s latest application for a Real World Asset (RWA) tokenization fund highlighted this path. So far, the No-Code Tokenized Asset Marketplace-as-a-Service platform (MaaS) is expected to be fully operational later this year.

VET Is On A Downtrend

Despite the launch of MaaS, VeChain (VET) is witnessing a daily downtrend of nearly 2%. However, in the weekly timeframe, the crypto asset has increased by over 5%, suggesting an upward move.

As of the time of writing, VET was trading at $0.0440, with its market cap dropping by 2.78% in the past day. Meanwhile, its trading volume is down by about 24% in the last 24 hours.

In August 2018, during a downside trend in the cryptocurrency market, VET made its market debut. However, following the 2021 bull run, VET rose to the top, peaking at $0.281 before the cycle ended.

Featured image from Shutterstock, chart from Tradingview.com

Godspower Owie

My name is Godspower Owie, and I was born and brought up in Edo State, Nigeria. I grew up with my three siblings who have always been my idols and mentors, helping me to grow and understand the way of life.

My parents are literally the backbone of my story. They’ve always supported me in good and bad times and never for once left my side whenever I feel lost in this world. Honestly, having such amazing parents makes you feel safe and secure, and I won’t trade them for anything else in this world.

I was exposed to the cryptocurrency world 3 years ago and got so interested in knowing so much about it. It all started when a friend of mine invested in a crypto asset, which he yielded massive gains from his investments.

When I confronted him about cryptocurrency he explained his journey so far in the field. It was impressive getting to know about his consistency and dedication in the space despite the risks involved, and these are the major reasons why I got so interested in cryptocurrency.

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