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VeChain Foundation recently shared on Twitter its brand new strategic alliance with a company called Supply@ME Capital — a firm that enables businesses to generate cash flow without incurring debt by monetizing their existing stock. The two have joined forces to build a new kind of Inventory Monetization system that will use NFT, stablecoins, and Web3 itself.
In our strategic alliance with @SupplyMECapital, we're building a new kind of 'Inventory Monetization' system, uniting #NFT technology, #Stablecoins & #Web3.https://t.co/zZ3460cyri $VET #crypto pic.twitter.com/Cb6flkGMkn
— VeChain Foundation (@vechainofficial) June 28, 2022
What are the partners trying to achieve?
In a more detailed announcement on its website, the VeChain Foundation explained that it is no stranger to innovation and that it already pioneered many blockchain applications that have benefitted the real economy. The project noted that it has a proud history of solving pain points across a diverse set of industries, and so today, it plans to continue building up its legacy by entering into an alliance with Supply@ME Capital.
The two aim to create a first-of-a-kind Web 3.0 inventory monetization system that will use blockchain, stablecoins, and NFT technology, and that phase 1 is already underway and expected to yield the initial results by the end of July 2022. The first step is the creation of a new proof-of-concept platform that will be able to generate and deliver blockchain transactions to an Italian firm from SYME’s client portfolio using the VeChainThor network.
With phase 1 completed, the partners will use the analysis and review of the first phase to move to the second one. This one will include the development of the Inventory Monetization Platform, and VeChain expects to have it up and running by the end of this year. It will include a full roadmap of Web3 features, including the seamless issuance of NFTs that represent digital ownership of physical items, decentralized financial apps, a B2B marketplace, an overall governance protocol, and more.
The platform promises even more capabilities, many of which will be tied to manufacturing and trading companies. Phase 2 will also allow users to use the VeChainThor blockchain to mint the phygital NFTs, while the Inventory Monetization transactions will be funded by numerous liquidity providers, such as retail investors, and crypto asset managers. The ultimate goal of the partnership is to build a new fintech platform for trading and manufacturing firms to use in order to generate cash flow via non-credit approaches and with no incurring debt.
Supply@ME Capital’s CEO, Alessandro Zamboni, noted that the company is delighted by reaching this important milestone and that the innovative nature of the company’s product offering makes the world of digital assets an ideal provider of funding for their unique asset class.
Meanwhile, VeChain’s CEO, Sunny Lu, noted that the project is always looking to team up with new innovative firms and push VeChain’s digital technology further. The project has already demonstrated the ability to aim high and dream up, and soon after, deploy new ideas and ecosystems that can harness the revolutionary power of blockchain technology.
To learn more visit our Investing in VeChain guide.
Ali is a freelance writer covering the cryptocurrency markets and the blockchain industry. He has 8 years of experience writing about cryptocurrencies, technology, and trading. His work can be found in various high-profile investment sites including CCN, Capital.com, Bitcoinist, and NewsBTC.