- VeChain doubles down on its effort to lead the billion-dollar phygital ecosystem as it shares simple steps to transform physical objects into digital.
- It can be recalled that it produced the first-ever phygital trophy in the history of ATP in its collaboration with Internazionali BNL d’Italia (IBI).
VeChain’s groundbreaking innovation in the blockchain industry reached its prime when it took the phygital industry (Physical + digital) to a new level with well-crafted unique trophies in multiple sporting events. Today, it is working to seamlessly access other blockchains with its “digital twins” powered by blockchain, NFT, and NFC Chip Technology.
In a recent post on X (formerly known as Twitter), VeChain explained its new features which could transform any physical object into a digital form. To do that, users would first have to locate the “Tap the NFC”, click on “Go to Create,” then choose “Create or Sign up to Account.” From here, users would have to select “Start Minting,” then enter NFT information, add provenance details, and click “Finalize.”
Creating a phygital (physical + digital) item is simple on #vechain, aided by pioneering teams such as World of V.
Breathe new life in to your art, products or even your pet by minting digital twins powered by #blockchain, #nft & NFC chip technology.
Authentication made easy! https://t.co/lXyIMMp6wX
— vechain (@vechainofficial) August 31, 2023
The Phygital Trophies at ATP
The power of this innovation was announced in its recent partnership with the Internazionali BNL d’Italia (IBI). According to reports, the blockchain company phygitalized the IBI 2023 trophies for the first time in the history of ATP. It is important to note that ATP is one of the most popular events in Italy with more than 500,000 physical attendees throughout the tournament.
According to VeChain, the power of phygitals has no boundaries and is important to every field. It enables individuals and companies to expand the full characteristics and properties of objects. In all this, it provides the highest form of authenticity and ownership.
Phygital goods enrich experiences, creating something tangible, immersive, and unique. For brands, it greatly enriches the customer journey, creates new insights into the lifecycle of products, and facilitates novel forms of engagement. For consumers, phygitals offer new ways to connect with brands and communities while gaining immutable ownership of an item, protected by the attributes of NFT + blockchain. In the case of high-value goods, phygitals preserve value by guaranteeing authenticity and provenance, solving fraud issues within secondary resale markets.
VeChain Introduced the Power of Blockchain to the Masses
During the event, VeChain together with World of V and Explus hosted a booth at the commercial area to enable people phygitalize their items in a bid to get them involved in the world of blockchain technology. In-person attendees were also provided with sustainably produced bracelets. It had QR Codes that led them to the landing page of ‘VeAces’. This is a World of V-produced claimable NFT that also doubles as a raffle ticket. 150 winners were randomly selected after the event and given a phygital cap as well as tickets to the 2023 ATP Finals in Turn, Italy.
Vechain and its collaborators are helping the masses conceptualize the kinds of real-world blockchain applications that promise to radically transform society in the coming years. By proxy, vechain is creating invaluable networking opportunities and exposing its technical capabilities on a global stage.
As of press time, VeChain (VET) was trading at $0.015728. The asset had fallen by 3 percent in the last 24 hours and by 16 percent in the last 30 days. With bearish sentiment, the asset is expected to trade even lower if it breaks its support of $0.014936. However, it could stage a mini-rally if it breaks its resistance level of $0.016745.
