VeChain adds NFT creation and trading tools, DAO and governance smart contract library.
- VeChain aims to become one of the new L1 solutions for adding Web3 functionality to Web2 projects.
- VeChain specializes in NFTs of physical items and has a “digital twin” in the metaverse.
- The VeChain network is one of the older blockchains created in 2018.
VeChain joins the trend of providing tools to move between Web2 and Web3, demonstrating itself as one of the Agile networks. VeChain has gone through multiple transformations and is one of the older L1 solutions aimed at finding a solution to Ethereum’s scalability.
The VeChain network was originally created to work in the Internet of Things and tokenize real-world commodities. So far, VeChain has been business-oriented for large enterprises, but in 2023 the network aims to be a proper blockchain service, offering off-the-shelf tools aimed at Web2 apps.
VeChain will become a developer platform and join the growing list of toolsets aimed directly at Web3 builders.
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The latest announcement follows an updated 2023 roadmap that first stated plans for VeChain to become a Web3 tool hub.
VeChain retains some of its previous use cases, but now has been modified as NFT passports for physical items. VeChain also secures the Metaverse-compatible “digital twins”, or NFTs, of the actual product. Additionally, VeChain has a library of smart contracts to form a DAO with voting and governance, and to provide an “ecosystem as a service” package.
Equipped with a native array of validators, VeChain is a double-token ecosystem with VET and VTHO assets, allowing you to pay for gas and other utilities on the blockchain. Although VET is a widely traded token, it is currently used in only a handful of games.
VeChain Draws In Games, NFT Collections
VeChain already has multiple apps for NFT trading and DeFi. However, this is one chain that has been avoided in most game projects so far. However, some NFT games and collections still choose VeChain.
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VeChain has also attracted Viking Games and other project builders. Other of his NFT games include Inca Empire and Mad His Vikings. VePunks tops his NFT collection.
The VeChain ecosystem currently boasts over 2 million wallets due to its scalable network, no outages and a good track record over the past 5 years.
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