The fundamental
Does VeChain have NFTs?
Along with VeChain’s use cases in the supply chain, its nonfungible token (NFT) ecosystem is also thriving. For creating and trading VIP-181 tokens that are kept on the VeChain blockchain, there is a decentralized NFT marketplace called VeSea. The VeChain Foundation introduced the VIP-181 Standard, which enables fundamental functionality for tokens within smart contracts.
Users require a VeChain-compatible wallet in order to sell, purchase, and store NFTs on VeSea, which is compatible with VeChain Sync2 and VeChainThor Wallet. Additionally, because of the effectiveness of the underlying blockchain, VeSea has no gas expenses. However, users need to pay a 2.5% trading fee.
VeChain offers two NFT collections: VeKings and Paper Project. The 8,147 pieces of art are available in the VeKings NFT series, depicting the Vikings and Valkyries, symbols of the illustrious VeChain Empire. A total of 11,880 uniquely generated NFTs make up the interactive NFT Paper Project, which was developed and is being directed by Southern California-based artist Emmet Ahlstrom.
If anyone currently own an asset from one of these two NFT collections, VeSea will offer them a discount of up to 100%. World of V is another VeChain NFT marketplace compatible with the Sync2 wallet, which is free to use. In addition, by offering complete minting support, the platform welcomes new NFT projects through its launchpad and allows nonfungible token owners to stake their NFTs in the creator ecosystem.
Is VeChain a good investment?
VeChain aims to accelerate the mass adoption of blockchain technology by addressing issues, such as the high cost of maintaining an Ethereum-based DApp. Despite VeChain’s use cases in supply chain management and other industries, investment choice depends upon one’s financial objectives and risk-return profile.
That said, investing in a cryptocurrency in which you feel you need more confidence can be risky, and you may lose your hard-earned money. Therefore, determine your asset-allocation decisions based on your expectations for returns on your investment.
But, is the VeChain network secure? VeChain works with a number of security companies, including Hosho, Secureware, SlowMist, and HackenProof, to find potential vulnerabilities and proactively prevent cyber threats.
The future of VeChain
VeChain is a layer-1 smart contract platform that allows developers to create unique smart contracts and DApps on top of it. Its applications in logistics, supply chain management and other industries help businesses enhance their operations. However, from the investment perspective, one must always weigh the pros and cons before making portfolio allocations.
As the future is uncertain, the same goes for VeChain. That said, it cannot be predicted if VeChain will become the new Ethereum. Whatever the case, it will be exciting to see how VeChain will compete with its rivals and offer distinct solutions to achieve a competitive edge.
