VeChain Launches $1M Grant Program for its Enterprise NFT Ecosystem 16

VeChain Launches $1M Grant Program for its Enterprise NFT Ecosystem

  • VeChain (VET) Foundation has launched a $1 million grant program to build its NFT ecosystem
  • The program will fund NFT projects on VeChainThor such as marketplaces, token bridges, DeFi apps, open source tools and more
  • According to VeChain, enterprises will drive mass adoption of NFTs
  • Enterprise NFTs will be the result of the collaboration such enterprises and the NFT industry

The team at VeChain (VET) has announced the launch of a $1 million grant program to foster the development of its enterprise NFT ecosystem. The grant program is aimed at driving the mass adoption of NFTs created on the VeChainThor blockchain by attracting developers of NFT marketplaces, token bridges, DeFi applications, open-source tools and more.

How to Apply for the Grant, Funding Capped at $30k Per Project

Interested participants are invited to apply through VeChain’s Github repository which further breaks down the specific categories for the eNFT grant program as follows.

  • Decentralized applications (e.g., gaming, DeFi, NFT, etc)
  • Tools/libs for testing
  • Tools/libs for frontend development
  • Infrastructures (e.g., explorer, status dashboard, node service, etc)
  • Interoperability
  • Wallet integration
  • Enterprise applications
  • Research projects (e.g., tokenomics, governance, privacy, etc)

Each successful application stands the chance of getting a maximum amount of $30,000 in funding disbursed through Tether (USDT).

What is the Enterprise NFT Ecosystem on Vechain (VET)?

According to the team at VeChain (VET), enterprises will be a key driving force of NFT adoption going forward.

Therefore, there is a need for the development of an Enterprise NFT ecosystem on the VeChainThor blockchain. The ecosystem will bring together enterprises, developers, artists and creators.

The VeChain foundation further highlights the following three reasons to collaborate with enterprises in the NFT industry.

  • Enterprises will bring a level of quality to the NFT industry thus sustaining the ecosystem
  • Enterprises will make sure that the ownership of NFTs are authentic and enforced since their reputation is on the line
  • Enterprises have the global reach to bring new users to the NFT ecosystem