- VeChain and the UFC want to bring cryptocurrency and international sports together while increasing brand awareness and community involvement.
- V Better, VeChain’s DAO, encourages environmentally conscious behavior among blockchain users by offering incentives for sustainable acts.
The founder of VeChain, Sunny Lu, spoke candidly in an exclusive interview on the Ajwritescrypto Youtube channel about his foray into the cryptocurrency space, VeChain’s strategic alliance with the UFC, and the company’s unwavering dedication to sustainability.
The talk took place on a lively Wednesday in Miami, paving the way for a UFC event and signifying the dynamic nexus between sports, technology, and community involvement.
VeChain and UFC Form a Strategic Alliance
Ten years ago, when he was still playing World of Warcraft, Sunny had his first encounter with Bitcoin, which set off his entire cryptocurrency journey. VeChain was founded as a result of his deep dive into the cryptocurrency world and his international trips with Louis Vuitton.
VeChain was founded on using blockchain’s efficiency and transparency to solve real-world problems, primarily supply chain management.
One remarkable feature of VeChain’s trajectory is its distinct marketing strategy, particularly its partnership with the UFC, expanding on what was earlier reported by ETHNews.
Sunny clarified that the decision was made due to the UFC’s widespread appeal, quick expansion, and demographic fit with cryptocurrency aficionados.
For any technology-driven organization, building a close-knit community and using UFC events as forums for direct involvement and feedback are just as important as branding in this strategic alliance.
The conversation then shifted to sustainability, which is VeChain’s primary goal. Sunny passionately discussed the importance of shifting the narrative around sustainability, emphasizing the benefits and incentives rather than focusing solely on costs.
V Better is a decentralized autonomous organization (DAO) that was established to promote and incentivize sustainable actions among individuals.
In addition to tackling environmental concerns, VeChain is leading the way in the blockchain industry with V Better by developing a novel approach to community involvement and incentive schemes.
Dual-Token System Facilitates Stable Transactions
In order to provide a stable transaction cost economy, VeChain’s dual-token system—which consists of VET and VTHO—was created to separate transaction costs from the value of the network’s utility tokens.
Previously, VeChain’s innovative strides in sustainability and strategic partnerships, like with the UFC, have captured market attention. According to previous ETHNews reports, analysts now forecast a bullish trajectory for VET, indicating a potential 600% price increase.
In order to further democratize the platform and give community members incentives for sustainable actions, the Better (BETTER) and Vote (VOTE) tokens were introduced within the V Better ecosystem.
Sunny has big dreams for VeChain, but they are realistic. In his vision, billions of people use the V Better platform to make everyday decisions that lead to a more sustainable environment, aided by a wide range of x-to-earn applications.
This ecosystem has the potential to completely reshape the relationship between technology, sustainability, and community involvement because every modest effort is acknowledged and rewarded.
Currently, the value of a VET has increased over the past 24 hours and seven days, 1.81% and 8.90%, respectively, to $0.04693.