Source: Den Rise Shutterstock
- Inventory Monetization Platform 3.0 by SYME and VeChain has a roadmap for upcoming Web3 features.
- Fundamentals include digital ownership, B2B marketplaces, NFT issuance, DeFi, and governance protocols.
Blockchain enterprise specialist VeChain Foundation has taken several key initiatives in strategic collaboration with Supply@ME Capital PLC (SYME). The two players began collaborating in June this year to leverage blockchain, stablecoin, and NFT technology to help creditworthy businesses capture more value from investors. Built the first “Web3” inventory monetization system.
According to the latest developments, the project has entered Phase 2 involving the creation of the “Inventory Monetization Platform 3.0” with an anticipated roadmap of Web 3 features. This includes additional elements such as digital ownership, B2B marketplaces, NFT issuance, DeFi and governance protocols.
“Phase 2 includes the creation of the ‘Inventory Monetization Platform 3.0’ with an anticipated roadmap of Web3 features, including NFT issuance, digital ownership and B2B marketplaces, DeFi, and overall governance protocols. will be ✌️#VeChain $VET #finance #work #fintech pic.twitter.com/1h0jd9UmQA
— Eisenreich (@eisenreich) December 27, 2022
This development phase also includes tokens to help drive investment in Inventory Monetization (IM) transactions performed through Web3 roots.
The agreement between the VeChain Foundation and Supply@ME Capital PLC (SYME) included two phases: technology development and investment opportunities. The first phase provided a proof of concept consisting of the first successful transaction on September 12, 2022.
Phase 2 is currently looking into creating an “Inventory Monetization Platform 3.0” with Web3 capabilities. In the second stage, the VeChainThor public blockchain will be used to create physical (physical + digital) NFTs. Inventory Monetization (IM) transactions are also funded by multiple liquidity providers, including retail investors and crypto custodians.
Phase 2 of collaboration
The second phase of this project between the Vechian Foundation and Supply@ME Capital PLC (SYME) will involve evaluating innovative processes to connect digital assets to the real economy. Supply@ME Capital PLC (SYME) said it is working with VeChain to improve automation between its platform and Vechain Thor blockchain services.
As previously mentioned, it also opens up opportunities to involve multiple liquidity providers in IM transactions. As a result, SYME is assembling a portfolio of potential customer companies from its global pipeline to monetize approximately US$50 million in inventory. Additionally, SYME is also approaching leading MakerDAO and Centrifuge communities to further investigate funding IM transactions using the Centrifuge protocol and accessing liquidity via DeFi.
Another major development in Phase 2 is the creation of governance protocols. Together with other blockchain advisors, SYME has produced a strategic paper on the launch of a governance and utility token to facilitate investment in IM transactions via Web3 roots. Commenting on the development, VeChain CEO Sunny Lu said:
We are always looking to partner with innovative companies that are pushing the frontiers of digital technology. VeChain has demonstrated its ability to conceive and then deploy new ideas and ecosystems that harness the transformative power of blockchain. We recognized the same potential for Supply@ME and its novel tradFi-Defi inventory management service. We look forward to working with them to co-develop these new systems to provide businesses with entirely new ways to drive value from inventory monetization.
