- According to a member of the VeChain board, Renato Grottola, the partnership allows VeChain to become the possible destination for global brands seeking to come up with digital sustainability initiatives.
- Grottola further explained that VeChain wants all stakeholders to contribute to common goals regarding sustainability.
At the Nitto ATP Finals held between November 13 and November 20, VeChain Foundation disclosed that it is securing a multi-year partnership with the Association of Tennis Professionals (ATP) until 2025. This will ensure that its brand awareness is promoted in addition to the development of sustainability initiatives in Europe. ATP has a large annual viewership of an audience of over 1 billion individuals. This means VeChain can take advantage of the ATP’s global reach as it seeks to expand within the continent.
According to a member of the VeChain board, Renato Grottola, the partnership will allow VeChain to become the possible destination for global brands seeking to come up with digital sustainability initiatives.
VeChain recognizes this sponsorship as a global platform to share evolving and fresh ideas of developments within the blockchain realm alongside pioneers, business leaders, and universities in Italy and beyond.
The company announced its earlier partnership with ATP on October 18 after revealing a feature at the Nitto ATP Finals week in the Italian city of Turin. As part of its effort, the team has decided to provide the needed publicity for the VET project and also make available an appropriate marketing opportunity. After that partnership, the VeChain x Nitto ATP Finals digital collectibles collection called VeBounce was unveiled. This was in collaboration with World of V, and ExPlus. The event oversaw the minting of additional Digital Collectible prizes. This included 20 ‘phygital’ (physical-digital) prizes with CEO Sunny Lu and ex-professional Tennis star, Flavia Pennetta, signing physical tennis balls with QR codes linking to a blockchain-based NFT.
VeChain wants stakeholders to contribute to sustainability
On top of the upgrade, the company at the Nitto ATP Finals finished the mainnet upgrade at block 13815000 on November 17, 8:10 (UTC). This was said to be accompanied by their Proof of Authority 2.0 (PoA2.0) implementation.
The seamless upgrade introduced a critical mechanic for the future of VeChain and its sustainability objectives by ensuring absolute finality and, thus, data quality assurance.
According to the team, the latest network upgrade would help the VeChainThor network to comply with the upcoming data-related regulatory guidelines. This would be done while it provides proper scalability and security to fulfill the blockchain architecture technique. The strength of both blockchains would be leveraged while their respective weaknesses were eliminated.
Grottola further explained that VeChain wants all stakeholders to contribute to common goals regarding sustainability.
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This is why VeChain wants to be the reference platform for all those who want to implement sustainability-oriented digital solutions based on blockchain. In this context, partnerships with important sports realities allow us to speak to a different target, and thus bring the issue of sustainability connected to the blockchain to the attention of ordinary people as well.
VET is currently trading at $0.019 and would take a lot of effort for the price to hit $1 despite this development.