Blockchain
VeChain has recently announced to become the official partner of the Internazionali BNL d’Italia. The network has entered into a multi-year cooperation agreement with the tennis organization.
According to VeChain’s latest post, it will play a major role in phygitalizing the IBI 2023 trophies. Runs from May 8 to 21 in Rome. This is the first time in ATP history that trophies are phygitized.
IBI is one of the largest events in Italy, with an average of 500,000 visitors during the tournament. The event provides VeChain with tremendous opportunities to showcase its real-world usage. The winners earn trophies embedded with the power of VeChainThor. The VeChain-powered NFTs will be introduced to global companies and users through real-world applications.
Phygital is a combination of the words physical and digital. It refers to the process of providing digital identities to physical objects using NFT, NFC and blockchain technologies. There are countless use cases for phygitals and they are relevant to most industries.
For IBI 2023, the NFTs attached to the embedded NFC chip will become the proof of ownership. It is invariably assigned to a winner and acts as a certificate of authenticity, eliminating any chance of fraud. With the deed, VeChain demonstrates blockchain’s ability to provide unparalleled levels of data security.
In addition, VeChain has also made it possible for attendees to win phygital prizes. Users will be able to claim VeAce NFT from the designated landing page once the tournament begins on May 8. VeChain and its partners are helping the general public learn about real-life use cases that can revolutionize society. Their partnership with IBI is the latest example of this approach and shows how VeChain can even help the tennis world using blockchain.
