- The VeChain-powered NFC chips help to validate the authenticity of the digital products being traded on the Frac network.
- Combining VeChain products, Helium Protocol makes Frac’s NFT fractional trading more seamless and affordable to all investors.
VeChain (VET), a veteran blockchain that has been tested through time without technical glitches, continues to make entries into the real-life application of digital assets. As a versatile blockchain with two token systems, VET and VTHO, for its underlying blockchain VeChainThor, the VeChain ecosystem has been applied to revolutionize the Internet of Things (IoT).
Consequently, the $1 billion valued ecosystem is slated to grow exponentially in the coming years amid the mainstream adoption of digital assets and blockchain technology.
VeChain Technology Powers Frac NFT Adoption
In the latest developments, Frac, a leading high-value NFT fractional trading platform, intends to use VeChain-powered NFC chips to enhance its security and thus increase trustworthiness.
Notably, the VeChain-powered NFC chips help to validate the authenticity of the digital products being traded on the Frac network. Meanwhile, Frac gets to use the Helium protocol to provide an IoT/GPS live stream dashboard in order to ensure the location of the traded products.
Vechain’s blockchain tools are being used to power Frac, a fractional asset trading platform that uses #NFTs to fractionalise and trade high-value premium assets as fungible tokens.
By combining Frac’s proprietary platform with #vechain-powered NFC chips and solutions, Frac… pic.twitter.com/lvoh35rMir
— vechain (@vechainofficial) June 15, 2023
Combining VeChain products, Helium Protocol makes Frac’s NFT fractional trading more seamless and affordable to all investors. Moreover, VeChain’s NFC chips help Frac demonstrate the legitimacy of the fractions being traded through ‘phygitalization’ and creating digital twins of high-value physical assets.VeChain noted in a Medium blog post:
Vechain’s solutions enhance the security of Frac’s platform through the incorporation of NFC chips that validate the authenticity of the products being traded. Frac, based on the Solana blockchain, validates GPS data and ensures asset location information using the Helium protocol,.
Notably, Frac is a Singapore-based NFT infrastructure that invests in premium products such as luxury cars, wine and whisky, and precious gems more accessible to all investors through fractional trading. Led by Melvin Tan as the Chairman, Frac has attracted a dozen of investors including Diamond Alpha, VeCahin, Wakweli, and Capital Asia Investment, among many others.
Market Outlook
By powering crucial supply chain management in real-world business models, the VeChain network promises to grow into a more complex ecosystem. Furthermore, global financial markets are changing and blockchain technology is at the core center of the change that has disrupted traditional financial institutions.
Notably, VeChain has made several strategic partnerships in different parts of the world where blockchain technology has been regulated for mainstream adoption. Moreover, Singapore has been touted as a strategic destination for international blockchain investors due to its crypto-friendly and clear policies.
Price Action
Trading around $0.01458 on Friday, the VET price is user increased sell pressure following the recent crypto regulatory crackdown in the United States. Down more than 94 percent from its ATH, around $0.27, VET price is highly reliant on the partnership VeChain is making during the bear market.
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