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- The Inventory Monetization Platform 3.0 by SYME and VeChain will have a roadmap for upcoming Web3 features.
- It will basically include digital ownership, B2B marketplaces, issuance of NFTs, DeFi, and a governance protocol.
Blockchain enterprise specialist VeChain Foundation is taking some key initiatives in its strategic collaboration with Supply@ME Capital PLC (SYME). The two players entered into a collaboration earlier this year in June to build a first-of-its-kind ‘Web3’ Inventory Monetisation System which will leverage blockchain, stablecoin and the NFT tech thus helping creditworthy businesses raise the value from investors.
As per the latest development, the project has entered Phase Two which involves the creation of an “Inventory Monetization Platform 3.0” along with an expected roadmap for Web 3 features. This includes additional stuff like digital ownership, B2B marketplaces, issuance of NFTs, DeFi and a governance protocol.
“Phase Two involves the creation of an “Inventory Monetisation Platform 3.0″ with an expected roadmap of Web3 features, including the issuance of NFTs, digital ownership and B2B marketplaces, DeFi and, overall, a governance protocol.” ✌️#VeChain $VET #Finance #Business #FinTech pic.twitter.com/1h0jd9UmQA
— eisenreich (@eisenreich) December 27, 2022
This phase of development also includes a token that would help to boost the investments in Inventory Monetization (IM) transactions performed via the Web3 route.
The agreement between VeChain Foundation and Supply@ME Capital PLC (SYME) involved two phases of technology development and investment opportunities. The first phase offered a proof-of-concept comprising of an inaugural transaction which was successfully implemented on September 12, 2022.
Now, Phase Two will look at creating an “Inventory Monetisation Platform 3.0” with Web3 features. the second phase will involve using the VeChainThor public blockchain to mint phygital (physical + digital) NFTs. The Inventory Monetization (IM) transactions will also be funded by multiple liquidity providers including retail investors and crypto asset managers.
The Phase Two of Collaboration
The Second Phase of this project between Vechian Foundation and Supply@ME Capital PLC (SYME) will involve the assessment of an innovative process linking digital assets to the real economy. Supply@ME Capital PLC (SYME) said that they are working with VeChain in order to improve the automation between the platform and Vechain Thor blockchain services.
#Vechain x Supply@ME Capital
“SYME and VeChain intend to make further announcements regarding the progress of Phase Two in due course”👏👀$VET #VeChainHasNFTs #blockchain #syme #Web3 #NFT #Finance #Funding pic.twitter.com/CNZKnFM50c
— Sebastian_ROK Ⓥ 🇩🇪 (@PERE_Mainz) December 27, 2022
As said, it would also unlock the opportunity to involve several liquidity providers with IM transactions. As a result, SYME is compiling a portfolio of potential client companies, from its global pipeline, to monetize approximately US$50 million of inventory. Besides, SYME has also approached the leading MakerDAO and Centrifuge communities to further explore funding IM transactions using Centrifuge protocol and access to liquidity through DeFi.
Another major development in Phase Two will be the creation of a governance protocol. Along with other blockchain advisers, SYME has produced a strategic paper on the launch of governance and utility tokens which will boost investments into IM transactions through Web3 route. Speaking on the development Sunny Lu, CEO of VeChain, said:
We’re always looking to join hands with innovative companies pushing the fore of digital technology. VeChain has demonstrated its ability to dream up, and subsequently deploy, new ideas and ecosystems that harness the revolutionary power of blockchain. We recognised the same potential in Supply@ME and their novel tradFi-Defi inventory management service. We look forward to working with them to co-develop these new systems and provide businesses with an entirely new method of raising value from Inventory Monetisation.