The VeChain Foundation has collaborated with e-commerce site Shopping.io to allow VET holders to spend their tokens by making purchases on the platform. As per a statement from Shopping.io, the new collaboration began accepting VET payments on the e-commerce site on July 9th.
VET holders may use Shopping.io to purchase daily products, gadgets, and novelty products from major e-commerce platforms such as Amazon, eBay, Walmart, and Etsy, according to the release. Additionally, VET holders who utilize the token to buy things over the course of two weeks, commencing July 9th, will enjoy a 2% rebate on all products.
The cooperation with VeChain is among Shopping.io’s initiatives to cooperate with leading cryptocurrencies, as per the firm. Furthermore, the e-commerce site plans to collaborate with other initiatives that will help it realize its goal of a widespread crypto era. VET is now trading at $0.07643 at the time of publication.
Over the previous 24 hours, the token’s market price lost 0.0008433 (1.09%). Aside from the aforesaid daily loss, VET has lost 11.1% in the previous seven days and 33.1% in the last 30 days. Arbel Arif, the CEO and creator of Shopping.io, stated on the current partnership with Vechain Foundation:
“Due to their dedicated community and tenure in the field, VeChain is an incredibly tremendous success for shopping.io. We’re looking forward to seeing what more this relationship can offer in the long run.”
Shopping.io stands out from rest of the shopping platforms since it is the first worldwide crypto integrated platform that allows users to spend cryptos on a variety of e-commerce platforms. Aside from VET, Shopping.io customers may utilize multitude of crypto tokens on prominent e-commerce sites. SPI and GSPI are the two native coins of the platform. When you use the two tokens to make purchases on the platform, additional discounts will be offered.
The VeChain Foundation has recently made news with a number of agreements in the e-commerce and other industries. On July 7th, VeChain attended the China Animal Health and Food Safety Alliance (CAFA) Food Safety Summit. For this collaboration, VeChain serves as the single public blockchain supplier.
CAFA is a governmental agency operating under China’s National Agricultural Science Technology Innovation Alliance. The partnership intends to use blockchain technology to create a tracking platform. On the VeChainThor blockchain, CAFA members are able to enter, distribute, and protect data. VeChain also offers blockchain solutions for a variety of corporate requirements.
The Foundation’s mission is to bring blockchain technology into everyday life. Since its beginning in 2015, the VeChain project has consistently enabled businesses to grow and generate value. VeChain also has operations in nations including Japan, China, France, Singapore, Italy, Luxembourg, and the United States.
