VeChain to Develop Web3 ‘Inventory Monetization’ System

Blockchain enterprise service provider VeChain Foundation has signed a strategic alliance with London-based inventory monetization platform Supply@Me Capital to fund the first-of-its-kind ‘Web3’ Inventory Monetization System using blockchain, stablecoin, and NFT technology. Web3-Based Inventory Monetization System According to an official press release, VeChain Foundation has teamed up with Supply@Me to create a Web3 environment that will allow ‘direct participation in the inventory monetization journey combining traditional finance with the blockchain space.’ The #VeChain Foundation is proud to pioneer cutting edge #blockchain applications. 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 VeChain has committed to directly subscribe to up to $10 million of non-fungible token-based Inventory Monetization transactions, of which roughly $1.5 million is immediately available to fund the first transaction. The first transaction will be carried out by the end of July. The goal is to develop a proof-of-concept platform to be able to generate and deliver a blockchain transaction to an Italian company from SYME’s client portfolio via the VeChainThor public blockchain. Commenting on the development, Sunny Lu, CEO o...