Global Coin Report has been keeping an eye out on VeChain (VET) and things look like they are looking up for the coin that just migrated to its own blockchain. The Mainnet is live and running giving us one reason to HODL VET for the foreseeable future. The VeChain Thor (VET) platform has been slated as being the best of the best in the crypto-verse. Not many blockchain projects make it to the Mainnet phase and actually release an actual blockchain platform. But VET had all the signs of a good project from the get-go.
There are official reports of the Chinese Government partnering with the project. In particular, the government of the Gui’an New Area of China. As part of the plan, VeChain will implement blockchain technology to improve government operations for the development of a smart city in Gui’an. If plans work out at Gui’an, then it is all systems go for possible VET adoption in other areas in China thus giving us a second reason to HODL VET.
In addition to the partnership with the government of Gui’an, VET was part of a Pricewaterhouse Cooper incubation program. The PwC company has constantly backed the project with its arms of business in China and Singapore. Through PwC, VET will have access to expert advice to enhance the project’s growth in the greater South East Asia region.
VET has also partnered with DNV GL, a global quality assurance and risk management company. Another VET partner is Kuehne and Nagel which is a Supply Chain and Logistics company. Other partners include BitOcean, Fanghuwang and other firms in the industries of real estate, art, automobiles, tobacco, just to name a few.
The third reason to hold VET is the VTHO distribution that will happen on a daily basis. Two prominent exchanges will be supporting the distribution of the VTHO: Binance and Gate.io. The frequency of each is monthly and weekly respectively. The exact formula for calculating VTHO can be found on page 38 of the VeChain whitepaper. Any additional tokens for owning VET is a good deal as more and more exchanges pledge their support for the VTHO distribution.
The fourth and final reason to HODL VET is that the crypto-markets are ripe for another Bull run with Bitcoin (BTC) leading the pack as usual. VET is currently trading at $1.99 and at its lowest levels this year. This means that HODLers have a chance to get some more VET before the BTC Bull run starts as we head into the holiday season that starts in November. The Bull run will also be fueled by news of more institutional investors getting into crypto investing.
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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.
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XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange
Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //
Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.
Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.
The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.
NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more.
NFTs are already being actively traded in markets globally. For…
Should Crypto Projects Devote Resources to Community Growth and Marketing?
2020 has been an incredible year for crypto as investors have generated windfall profits and crypto projects have seen their businesses gain the spotlight they’ve been looking for. While Bitcoin has received most of the attention after major institutional investors announced they were accumulating the increasingly scarce asset, many altcoins have also seen their fair share of glory. When looking at all the big winners of the past year, the first project that probably comes to mind is Chainlink, having appreciated by more than 550% YTD and now valued at over $4.5 billion. But, the actual biggest winner of the year is HEX with a YTD return of over 5,000%.
I mention both of the above projects as they have each taken slightly different paths to achieve greatness. Chainlink has devoted resources toward building a fundamentally sound business with many strategic partnerships while HEX has spent vast sums of money on marketing and promotion. Both approaches are valid, but one thing is certain, it is absolutely imperative for crypto projects to let the crypto community know what makes them special. Of course, one of the reasons that makes crypto so valuable is the powerful blockchain technology that most projects are utilizing.
Cryptocurrency vs. Blockchain Technology
It’s important to make a distinction between blockchain technology and cryptocurrency. Although they are often used interchangeably, they are different. Blockchain technology and crypto were both created after the 2008 financial crisis, but cryptocurrency…
XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata
Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //
The XENO NFT Hub (https://xno.live) will provide a crypto-powered digital items and collectables trading platform allowing users to create, buy, and sell NFTs. Additionally it will support auction based listings, governance and voting mechanisms, trade history tracking, user rating and other advanced features.
As a first step towards its fully comprehensive service, XENO NFT Hub launched a recent VIP service to select users and early adopters in December 2020 with plans for a full Public Beta to open in June 2021.
“NFTs are extremely flexible in their usage, from digital event tickets to artwork, and while NFTs have a very wide spectrum of uses and categories XENO will initially focus its partnership efforts and its own item curation on three primary areas: gaming, sports & entertainment, and collectibles.”, said XENO NFT Hub president Anthony Di Franco.
He also added “This does not mean we will prohibit other types of NFTs from our ecosystem However, it simply means that XENO’s efforts as a company will be targeted into these verticals initially as a cohesive business approach.”
Development and Procurement Lead, Gabby Dizon explained, “Despite our initial focus, we found ourselves with a unique opportunity to host some of the works of Mr. Hiro Yamagata. We are collaborating with Japanese artist Hiro Yamagata to enshrine some of his artwork into NFTs.”
Mr. Yamagata has been…