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VeChain has partnered with the FITP to create the first-ever Phygital Trophy.
The Phygital is the first of its kind and reiterates the diverse innovative power of the VeChain tech.
Blockchain platform VeChain has just added another layer of innovation to awarding sports winners with newly designed physical-digital (Phygital) trophies. These trophies, which are first of their kind, were designed for the tennis tournament in Italy Internazionali BNL d’Italia includes the Women Tennis Association (WTA) and the Association of Tennis Professionals (ATP) for men.
VeChain collaborated with FITP, the Italian Tennis Federation which governs the sport, to roll out these Phygital trophies. Already, FITP has been making an effort to integrate blockchain into Italian tennis. With VeChain in the picture now, winners would receive both a unique physical and digital trophy which would have a Near-Field Communication (NFC) chip embedded in it.
With the NFC technology, any contact with a smart device would reveal images, videos, and other data which has been saved in the chip. VeChain believes that with phygital, a new era of possibilities encompassing engaging and dynamic interactions, have been introduced.
In addition, these ATP and WTA winners would be given Non-fungible tokens (NFTs) specially designed by VeChain with ExPlus and World of V. This gives the holders of the NFTs an exclusivity right to the digital collectible and it also reinforces a layer of authenticity as well as uniqueness. According to a Twitter post made by VeChain,
Vechain is using phygitals to bridge the gap between two formerly distant worlds, unlocking new value and one-of-a-kind experiences.
In the meantime, VeChain is not certain of what the reaction of the players would be to the outstanding innovation. It is, however, keeping its fingers crossed till the male and female finals of the game when the trophies will eventually be won.
VeChain Inks Multiple Deals to Promote Sustainability
Meanwhile, VeChain has inked a partnership deal with the Foundation for Digital Sustainability in a push for more sustainability in the region’s blockchain industry. Fondazione per la Sostenibilità Digitale, as it is referred to in Italian, is the first research institution in Italy to assess the relationship between digital transformation and sustainability.
“Our society needs sustainability to flourish. For us at #vechain, this is a matter of fact, and we believe that technology can play a key role in jumpstarting the transition to a circular society. But we certainly are not the only ones to see things this way,” VeChain tweeted.
Both companies have declared that their aim is to support institutions and businesses in building a better future. Together, they believe that they can utilize their shared network to reach greater global heights.
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The enterprise-grade Layer-1 smart contracts platform has been a crucial part of the adoption of blockchain technology, especially with its numerous collaborations. A few days ago, BCG Expo became VeChain’s new partner and this deal made the latter the only participating blockchain at the BCG Expo 2023 in Singapore showcasing advanced solutions and cutting-edge technologies.
Some other recent collaborations were with top firms like Goldman Sachs Group, Deloitte, Cboe Global Market, and Microsoft Corp.
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