- VeChain aims to become one of the new L1 solutions for adding Web3 features to Web2 projects.
- VeChain specializes in NFT for physical items, with “digital twins” in the metaverse.
- The VeChain network is among the older blockchains, created in 2018.
VeChain has shown itself to be one of the agile networks, joining the trend of offering tools for moving between Web2 and Web3. VeChain has gone through multiple transformations and is one of the relatively older L1 solutions, which aimed to find a solution to the scalability of Ethereum.
The VeChain network was initially created to work for the Internet of Things, and to tokenize real-world goods. So far, VeChain has been business-oriented toward large corporations, but in 2023, the network will offer ready-made tools targeted at Web2 apps aiming for a suitable blockchain service.
VeChain will become a developer platform, joining a growing list of toolsets directly targeted to Web3 builders.
The latest announcements follow the renewed 2023 roadmap, which first stated the plans of VeChain to become a Web3 tool hub.
VeChain retains some of its older use cases, though now altered as NFT passport for physical items. VeChain will also secure “digital twins”, or NFT for real products which will be compatible with metaverses. Additionally, VeChain will have a library of smart contracts to form a DAO with voting and governance, and offer “ecosystem as a service” packages.
VeChain has a native array of validators and is a double-token ecosystem with VET and VTHO assets to pay for gas and other utilities on the blockchain. VET is a widely traded token, though for now used by only a handful of games.
VeChain Draws In Games, NFT Collections
VeChain already carries multiple apps for NFT trading, as well as DeFi. However, this is one of the chains that has so far been bypassed by most gaming projects. However, some NFT games and collections are still choosing VeChain.
VeChain has also attracted builders from Viking Games and other projects. Other NFT games include The Inca Empire and Mad Viking. VePunks is among the top NFT collections.
The VeChain ecosystem now boasts more than 2M wallets for a scalable network with zero outages and a good track record in the past five years.
