SINGAPORE, Aug. 13, 2021 /PRNewswire/ -- As the world's preeminent enterprise public blockchain, VeChain's mission has always been to drive innovation, disruption and digitization through the application of blockchain technology at mass scale. Through its many years of business development, VeChain has managed to identify the critical needs of businesses and organizations and has run accelerator and grant programs to bolster our blockchain and dApp ecosystem.

Standing at the forefront of blockchain mass adoption, the VeChain research team raised the idea of the next game-changer for the industry: the Enterprise NFT (eNFT - enterprise nonfungible token) ecosystem. As a key player in the real business world, enterprises will be the main driving force behind the mass adoption of NFT technologies and as such, the best way to facilitate this adoption is to develop and support a vibrant eNFT Ecosystem using the VeChainThor platform.

To achieve this goal, VeChain has committed $1 Million USD to fund a brand-new VeChain Grant Program. By applying for this grant, not only will you get a headstart in resources for starting a project or business, but your work on dApps, NFTs and DeFi on VeChainThor will also contribute to the development of the eNFT ecosystem.

Why Build on VeChainThor Public Blockchain

VeChainThor provides developers security, scalability and, more importantly, affordability. With the unique dual token (VET+VTHO) model detaching the volatility of VET and the cost of using the blockchain (VTHO), dApps running on VeChainThor are guaranteed stable and predictable fees. The Base Gas Price on VeChainThor benefits all developers and network users with low transaction costs. By leveraging the fee delegation and multi-task transaction features of the VeChainThor blockchain, dApps can provide a user experience much closer to conventional web applications.

As a business owner and developer, you can utilize fee delegation to eliminate gas fee requirements for your users in a game or DeFi application, setting you far apart from competitors. Your business ideas will no longer be limited by the technical constraints of other leading blockchain platforms.

Start Your Journey In The Business Leading VeChain Ecosystem

For the purpose of ensuring long-term success, the entire application process for the new Grant System has been set up to maximize transparency by tracking all applications and relevant processes on a public GitHub repository, which is the first of its kind in the world. The public will be able to track and follow applicants and changes in real time.

Developers may navigate among any topic they like, including, but not limited to, NFT marketplaces, NFT-enabled games/ applications, enterprise-level NFT solutions, DeFi applications, token bridges, cross-chain tools, research projects and also other projects that will bring value to the ecosystem (dev tools and libraries etc).

Our new Grant Program differs from previous programs, with several key points that are be attractive to developers and project owners:

• Equal and transparent: Each application can be funded up to $30,000. All applications will be tracked on GitHub. The evaluation process is easily accessible and visible for all community members.
• Long-sighted: We believe the correct approach to build a project is one that can evolve over time and is built with intent and staying power.

Each application will go through an evaluation process that consists of two stages:

Stage 1 — an application will be checked by dedicated evaluators to see whether it includes all the necessary information required. Applicants can use the provided application template to prepare their applications.

Stage 2 — after passing Stage 1, an application will be reviewed and voted by the Grant Committee. If approved, it will be funded according to the set milestones.

Currently,  3 projects have received the first phase reward and started to show more potential. VeChain intends to open more opportunities for more developers.

Apply Here

About VeChain Foundation

Launched in 2015, the VeChain Foundation has worked tirelessly to build the bridges between blockchain technology and the real world. VeChainThor's evolution continues to gather pace, transitioning from consortium network to best-in-class public blockchain platform using Proof of Authority consensus, boasting advanced technical features, governance structure and economic model. Through the development of a suite of innovative tools such as Multi-task transaction, fee delegation and VeChain ToolChain™️, VeChain has been able to substantially lower the barriers to entry for businesses and developers alike.

VeChainThor has already been applied across a diverse array of use cases, aiding the daily operations of corporations, and creating new value and efficiencies. Alongside key strategic partners PwC and DNV, VeChain has collaborated with world-leading enterprises including Walmart China, Bayer China, BMW Group, BYD Auto, PICC, Shanghai Gas, LVMH, D.I.G, ASI Group and more.

For more information, including developer tools/documents and foundation grants, please visit: www.vechain.org