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VeChain (VET) Finds an Angel Investor in DNV GL

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VeChain

After having a brief phase of rebound during the last several days, VeChain, along with the rest of the crypto market, is going down once again. As the market is turning sluggish after having a rebound period that lasted for about 4 days, the majority of currencies are getting back to trading in the red, that way losing on the total market cap. However, where there is bad news, there must be a light at the end of the tunnel, so VeChain still has something positive to share with the crypto community. This time, one of their partners, decided to invest in VeChain, supporting this start-up, non-profit, Singapore-based blockchain foundation.

DNV GL Invests in VeChain

Partnerships matter in the world of blockchain as well as listings, so as of the most recent occasion, one of the existing partnerships that VET has acquired over the time, has paid off yesterday on Consensus 2018.

On this occasion, the CEO of DNV GL and the CEO of VeChain Foundation have given a live statement about the latest announcement that the CEO of Business Department at DNV GL had to share with the public.

With over 12.000 of employees at the moment and with over 19 billion dollars in revenue of the company, DNV GL represents registrar organization and global consulting firm based in Oslo, Norway.

The company was already on the list of partnerships acquired by VET, but as of the latest circumstances, the CEO of DNV GL has announced that their company has decided to invest in VeChain blockchain foundation, that way supporting VeChain as a currency as well.

DNV GL has partnered with VeChain back in January 2018, specifically at the end of January, where their partnership was justified by the need of DNV GL for blockchain-based technology.

Since the company needed a cost-effective and highly functional way of tracking assets, they decided that the best way of enabling this feature would be to use the technological capabilities of VeChain.

The amount of the initial investment was not revealed to the public as both parties decided to keep the amount private. However, we know that DNV GL and VEN will surely continue with their cooperation in the future, as stated by the CEO of VeChain.

Furthermore, probably due to the latest investment that was placed in VET, DNV GL is planning on using Authority Masternodes, that way becoming the first Authority Masternode holder in form of the program 101 Authority Masternodes as hosted on the VeChain blockchain.

On the question about the reason behind the investment, the CEO of DNV GL stated that the initial investment is only one of a few planned investments that should be placed in the following period. The reason behind these planned investments is to make VeChain more efficient in oppose to other blockchain networks, as stated by the CEO of DNV GL.

Further on their partnership, both CEOs added that they are planning on building a supply chain that will become a part of DNV GL services. The supply chain should be built with VEN technology.

Moreover, the two CEOs have added that they are also planning on creating much safer and faster environment out of VET blockchain platform.

As the ultimate product, DNV GL’s own CEO, Crisciotti, claims that their goal is to provide their customers with full commitment while being able to track their products and make sure that all products are able to reach their customers.

At the end of his statement, Crisciotti added that they need a fast and safe blockchain environment in order to do so, and he believes that VeChain has what it takes to make a functional supply chain possible.

How is VeChain doing at the Current Moment?            

After having a couple of days reserved for bouncing off against the dollar, VeChain as well as the majority of coins and tokens, are being traded in the red zone again.

After a brief period of trading in the green was ended, the majority of currencies started to drop, and despite the latest investment from DNV GL, VET is going down against the dollar as well.

After losing -4.6% against the dollar in the period of the last seven days, and managing to collect a set of gains of 36% up against the dollar in the course of the last 30 days, VET is now dropping.

After the last 24 hours, VET has dropped by -7.68% against the dollar, that way trading in the red.

VET is also losing against BTC and ETH at the moment as it is going down by -3.91% against Bitcoin and over 4.80% against Ethereum.

Following the latest change in the market, VET can be currently traded at the price of 4.76$ per one unit, based on the market results provided on May 16th.

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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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Altcoins

XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange

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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…

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Altcoins

Should Crypto Projects Devote Resources to Community Growth and Marketing?

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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…

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Altcoins

XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata

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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…

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