VeChain becomes the leader of sustainability in the blockchain sector
- According to a member of the VeChain board, Renato Grottola, the partnership allows VeChain to become the possible destination for global brands looking to come up with digital sustainability initiatives.
- Grottola further explained that VeChain wants all stakeholders to contribute to the common goal of sustainability.
At the Nitto ATP Finals held between November 13 and November 20, the VeChain Foundation revealed that they are securing a multi-year partnership with the Association of Tennis Professionals (ATP) until 2025. This will ensure their brand awareness is promoted in addition to development of sustainability initiatives in Europe. ATP has a large annual viewership with an audience of over 1 billion individuals. This means that VeChain can take advantage of ATP’s global reach as it seeks to expand within the continent.
According to a member of the VeChain board, Renato Grottola, the partnership will allow VeChain will become the possible destination for global brands that want to come up with digital sustainability initiatives.
VeChain recognizes this sponsorship as a global platform to share evolving and fresh ideas about the developments in the blockchain space with pioneers, business leaders and universities in Italy and beyond.
The company announced its previous partnership with the ATP on October 18 after revealing a feature at the Nitto ATP Finals week in the Italian city of Turin. As part of the work, the team has decided to provide necessary publicity for the VET project and also make available a suitable marketing opportunity. Following this partnership, VeChain x Nitto ATP Finals digital collectibles called VeBounce were unveiled. This was in collaboration with World of V, and ExPlus. The event oversaw the minting of several digital collectibles. This included 20 “phygital” (physical-digital) prizes featuring CEO Sunny Lu and former professional tennis star Flavia Pennetta, who signed physical tennis balls with QR codes linking to a blockchain-based NFT.
VeChain wants stakeholders to contribute to sustainability
On top of the upgrade, at the Nitto ATP Finals, the company completed the upgrade to the main grid at block 13815000 on 17 November 8:10 (UTC). This was said to be accompanied by their Proof of Authority 2.0 (PoA2.0) implementation.
The seamless upgrade introduced a critical mechanic for the future of VeChain and its sustainability goals by ensuring absolute finality and thus data quality assurance.
According to the team, the latest network upgrade will help the VeChainThor network comply with the upcoming data-related regulatory guidelines. This will be done while providing the right scalability and security to fulfill the blockchain architecture technique. The strengths of both blockchains would be leveraged while their respective weaknesses were eliminated.
Grottola further explained that VeChain wants all stakeholders to contribute to the common goal of sustainability.
That is why VeChain wants to be the reference platform for everyone who wants to implement sustainability-oriented digital solutions based on blockchain. In this context, partnerships with important sports realities allow us to speak to a different target, thus bringing the issue of sustainability related to the blockchain to the attention of ordinary people as well.
VET is currently trading at $0.019 and it will take a lot of effort for the price to reach $1 despite this development.
