- VeChain wants developers to move NFT projects to the VeChainThor Blockchain
- NFTs are similar to digital currencies and can be thought of as digital collectibles
- The VeChain Foundation has a dedicated NFT standard (VIP180)
VeChain news today – NFTs (non-fungible tokens) are reportedly in line for a bigger role in the crypto space. The VeChain Foundation has now promoted its platform as one of the best places for developers to build NFT projects. VeChain claims that it was one of the first pioneers of non-fungible tokens. Purpose-built NFT grants and toolsets are available for anyone interested in porting to VeChain:
“VeChain offers a secure, stable, and high-speed, protocol with many features that remove the complexities of Blockchain technology. We offer comprehensive support to apps with real value. Foundation Grants are available for those migrating NFT Projects to VeChain.”
NFTs Can also be Classified as Digital Collectibles
NFTs are similar to cryptos and can be thought of as digital collectibles. They also exist on a Blockchain and have monetary value as well. The only difference between both options is a layer of features that make them special. These options affect the value of NFTs with what collectors regard as valuable. Non-fungible digital assets are a niche offering.
There has recently been much talk about NFTs becoming the next big thing in the Blockchain sector. However, there is a disagreement over them as some argue that NFTs are too niche to offer any meaningful impact to space. Additionally, the potential for investment of NFTs divides opinion to this day. According to nonfungible.com, there has been a rise in the total sales of NFTs recently. On September 27, NFTs worth $541,000 were sold. This is a YTD (year-to-date) high, and it beats the previous high point of $512,000 that was set on March 31.
Things are About to Change – Sunny Liu
The CEO of VeChain Sunny Liu thinks things are about to change for NFTs. Liu is trying to attract more NFT projects to VeChainThor. In his words:
“We will soon witness the minting of new NFTs assets flooding into the market. Currently, VeChain’s pioneering technology is the most advanced and it offers the best features for businesses.”
The VeChain Foundation has a dedicated NFT standard (VIP180). The Blockchain network claims that it enhances user experience significantly. They propose that it gives developers an audited and secure code to work with. The CEO and co-founder of VIMworld John Dempsey, who moved to VeChainThor, had this to say regarding the cost savings his firm has made:
“We currently have 12,000 Smart NFTs distributed among our users and plan to give out more. If our business was run on Ethereum, we might have paid $400,000 in gas fees for the same number of transfers, and additional millions for other operations.”