- Web3.0 real estate startup Magma has tapped Vechain for its sustainability drive.
- With mounting integration, we can expect VET to rebuild momentum for a bullish rally.
Web3.0 start-up Magma has announced its plans to tap into the advanced technology on offer by VeChain to bolster its sustainability initiatives. According to a LinkedIn post from the startup, it chose Vechain because of the protocol’s consensus mechanism dubbed Proof-of-Authority (PoA).
According to Magma, the Vechain protocol is best suited to help it debut its digital twin token in line with its core real estate mission.
“We chose VeChain for the Digital Twin Token as this blockchain is based on the Proof of Authority consensus and so requires significantly low gas fees,” the Magma LinkedIn post reads, “Vechain plans to establish itself as the leader in sustainable and environmentally responsible blockchain solutions.”
Vechain also took to its official social media handle to acknowledge the partnership. Vechain said it is proud to see sustainability-focused companies choosing the protocol as their goto platform to push forth their carbon management reduction.
Drawing on its growing influence, Vechain said it is pushing its proprietary sustainability tech into the mainstream by making it open source. It said:
With VORJ, cross-chain bridges, EVM tools and other innovative products launching, we’re opening #vechain‘s powerful and agile technologies to builders and developers from across the #Web3 space and a world of interoperable #DApps.
We're proud to see #sustainability-focused companies continue to look to #vechain as the leading protocol for building real world solutions.
With VORJ, cross-chain bridges, EVM tools and other innovative products launching, we're opening #vechain's powerful and agile… pic.twitter.com/FHIFnFD61y
— vechain (@vechainofficial) April 3, 2023
It is not uncommon to tap Vechain as a Carbon management outfit as it provides a high level of flexibility to companies who rely on its advanced smart contract functionalities. As noted by Magma, the Digital Twin Tokens that will be built on Vechain will allow the reusing, repurposing, recycling, and reselling of elements of the building it is offering for sale.
With the help of Vechain, stakeholders on Magma can also create energy performance smart contracts.
Aligning With The Vechain Mantra
Magma is a startup that aims to bring advances in the Web3.0 world into the real estate economy. For Magma, becoming more eco-friendly is the goal, and aligning with the technologies that can make that happen easily and cheaply is its major focus.
This goal aligns with Vechain’s which has started pushing forth its enterprise-grade blockchain innovation in various industries. As previously reported by Crypto-News Flash, the application and integration of Vechain have no bounds in terms of where it can be applied.
The blockchain protocol is featuring prominently in the supply chain ecosystem where it is helping to boost transparency and increase the overall efficiency of the industry. In addition, Vechain is finding more use cases in the transition of food systems from plant-based protein to animal protein, thus reducing the carbon footprint by a very large percentage annually.
In its bid to show its versatility, Vechain is also making a targeted dive into the IoT world with a patent that seeks to build every aspect and component to drive the tech at scale with the technology underpinning the protocol.
All of these grand embrace has repositioned the VET token and seeing a steady revival to the $0.05 mark may become inevitable in the long term
