VeChain, the world’s leading enterprise-grade Layer 1 smart contract platform, has teamed up with the fintech company Supply@Me. In what is called a strategic alliance, both parties will collaborate to develop a one-of-a-kind Web3 ‘Inventory Monetization’ platform, powered by stablecoins, NFT, and blockchain technology.
Web3 Inventory Monetization Platform In-View
The VeChain Foundation has always been at the forefront of innovations with real-life impacts. The team looks thrilled to step onto a new path to create a decentralized business and distributed token economies.
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On June 28, the team announced a strategic alliance with Supply@Me which is aimed at building a web3 solution that will provide companies with new kinds of economic services.
Precisely, Supply@Me seeks to leverage the VeChainThor public chain to arrive at an entirely exotic fintech platform that will help creditworthy enterprises improve cash flow via the optimization of inventory management.
Part of the announcement said;
“The overarching aim of the collaboration is to create an entirely new kind of fintech platform for use by manufacturing and trading companies looking to generate cash flow via a non-credit approach and without incurring debt. The outcome is the creation of a highly unique and novel solution for creditworthy companies to optimize inventory management and improve cash flow.”
Furthermore, the collaboration is structured to be in two phases only. In Phase 1 which is already in motion, the specific objective is to come up with a Proof-of-Concept (PoC) platform.
With the use of the VeChainThor public blockchain, this platform is expected to have the capability of generating and delivering blockchain transactions to an Italian company from the Supply@ME client portfolio.
Phase 2 which centers on the development of a full Inventory Monetization platform will take off upon completion of Phase 1. While the expected completion date of Phase 1 is late July 2022, Phase 2 is projected to be actualized by December 2022.
“During this second phase, the VeChainThor public blockchain will be utilized to mint the phygital (physical + digital) NFTs, with Inventory Monetization transactions funded by multiple liquidity providers including crypto asset managers and retail investors, exploring an enhanced commercial non-credit financing model,” according to the press release.
Read Also: VeChain Set To Implement Finality-With-One-Bit (FOB), a Block Finality Solution
VeChain and Supply@Me Strategic Alliance
In commenting on the collaboration, 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 recognized 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,” he added.
On the other hand, Alessandro Zamboni, CEO of Supply@ME noted:
“By embarking upon this alliance with the highly respected VeChain, an organization (Supply@ME) that is unique in the sustainability and supply chain sector, we are working to ensure the business is future-proof and highly scalable. In parallel, we continue to progress our own traditional funding routes which remain strategic for our business model”.
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