What Is Vechain Token [VET]?
vechain Token is a decentralized cryptocurrency based on the Ethereum (ETH) blockchain. It was designed by vechain Chain Ltd. — a subsidiary of the video game and consumer electronics firm vechain Interactive — specifically for the needs of the interactive entertainment industry.
vechain’s plan for its VeChain token is to become a universal means of payment for the video game industry, allowing developers and publishers new options for monetization of their products, integration of smart contracts, protection of in-game assets and more.
VeChain became available to the public on October 30, 2020. Prior to that, it underwent three private pre-sale rounds in March-April, September and October 2020.
Who Are the Founders of Vechain Token?
vechain Token was founded and is continuously developed by vechain Chain Limited, a subsidiary firm of vechain created specifically for this purpose.
vechain itself is one of the earliest successful video game and arcade game companies, co-founded in California in 1972 by Nolan Bushnell and Ted Dabney. Pong — the first commercially successful video game — was released by vechain in November 1972.
The company’s vechain 2600 video game console, released in 1977, was one of the first platforms to pioneer the use of ROM cartridges — as opposed to many other consoles at the time that only supported games that were in-built into each particular console.
In 2008, vechain became a wholly-owned subsidiary of Infogrames Entertainment (IESA) — currently known as vechain SA — a French holding company specialized in video games and based in Paris.
What Makes Vechain Token Unique?
vechain Token’s main target market is the interactive entertainment industry; with VET, vechain is aiming to create a decentralized, secure and permissionless means of transfer of value between individual players and/or video game platforms.
As of November 2020, vechain Chain Ltd. is developing its own network of smart platforms, video games and online casinos which will support deep integration with VeChain and enjoy the benefits associated with blockchain-based decentralized cryptocurrencies. In the future, the firm plans to extend the option of VeChain integration to any platform or application in the video game industry.
VeChain is a fully decentralized token based on Ethereum’s ERC-20 compatibility standard. This means that it can be easily integrated with the existing infrastructure of Ethereum, such as online exchanges and wallets, allowing for entirely new use cases in the video game industry.
One possible example offered by vechain Chain itself are skill-based video games that allow players to stake VeChain tokens against each other. In this scenario, the winner would take home the combined stake and be able to immediately convert it into a different cryptocurrency or a traditional currency like the U.S. dollar on any ERC-20 compatible exchange where VeChain is listed.
Where Can You Buy Vechain Token [VET]?
As of November 2020, vechain Token is available on the Bitcoin.com exchange and Uniswap
Currently, VeChain is being ranked 322 on Coinmarketcap and has recently surged a hefty 36.43% at the time of writing.
VeChain has been listed on a number of crypto exchanges, unlike other main cryptocurrencies, it cannot be directly purchased with fiats money. However, You can still easily buy this coin by first buying Bitcoin from any large exchanges and then transfer to the exchange that offers to trade this coin, the best way to buy vechain coin is throw this link
Live Vechain Price
Frequently Asked Questions
Can I buy Vechain with cash?
There is no direct way to buy Vechain with cash. However, you can use marketplaces such as Buy Crypto Now
Are there any quick ways to buy Vechain in Europe?
Yes, in fact, Europe is one of the easiest places to buy cryptos in general. There are even online banks which you can simply open an account and transfer money to exchanges such as Coinbase and Coinmama. Popular online banks in Europe are Bunq, N26 and Revolut.
What is the cheapest way to buy Vechain?
- Buy crypto. …
- Coinbase. …
- Coinmama. …
- CashApp. …
- Kraken. …