KEY POINTS
VeChain, a blockchain platform, is responding to the surging demand for non-fungible tokens (NFTs) by announcing the launch of a no-code white-label marketplace platform.
Working as “Marketplace-as-a-Service (MaaS),” the platform enables both businesses and individuals to effortlessly sell and transfer NFTs without the requirement of coding knowledge.
The full release of the platform is scheduled for later this year. VeChain also plans to integrate NFC functionality and extend support to “phygitals” — physical products accompanied by their digital counterparts.
Gresini Racing, a motorcycle racing team competing in the MotoGP World Championship, supported by ExPlus, stands as the first user of VeChain’s MaaS.
The team has established a marketplace to offer iconic moments from their races to fans worldwide. Notable moments turned into NFTs include Marco Simoncelli’s 2011 ride on the Honda RC212V and Daijiro Kato’s 2000 performance riding the Honda NSR 250.
The marketplace is designed to be user-friendly and intuitive. Users are not required to own a digital wallet for login, and they can make NFT purchases using debit or credit cards.
This initiative by VeChain marks another stride towards democratizing access to the NFT space. In a similar move in 2023, VeChain introduced “VORJ,” a no-code digital asset and smart contract creation platform, enabling users to deploy NFTs and DAOs and manage contracts via APIs without any coding expertise or transaction fees.
These solutions are driven by the growing interest from both enterprises and individuals in embracing Web3 technologies. Market projections suggest exponential growth in the NFT sector. Statista predicts that the revenue in the NFT market will reach $2.3 billion by 2024, and it is expected to expand further, reaching $3.3 billion by 2028.
