VeChain: VET Makes Major Announcement On New Product Launch

Juhi Mirza
vechain vet
Source: Unsplash

VeChain, one of the leading supply chain management tokens has lately been exhibiting a positive price ascent. The price of VET has noted an uptick of 6% in the last seven days, trading at $0.4545. In its latest product updates, VeChain has announced the launch of MAAS, a no-code white-label marketplace to tempt web3 and Blockchain users.

Also Read: VeChain Weekly Price Prediction: Can VET Hit $0.08 This Week?

What is VeChain’s New Product Offering All About?

Launched with an intent to revolutionize the NFT space, VeChain’s MAAS or Marketplace As A Service intends to deliver enterprise and individual holders a chance to explore a low/no code white label NFT platform to trade NFTs.

“MaaS was built to fulfill an important role within the digital asset space, presenting enterprise and individual builders a low/no-code white-label NFT platform for selling and transferring digital assets with ease.”

A white-label NFT platform simply refers to a marketplace that has been pre-built and does not require additional software development to structure its functioning. These platforms are simple to use and can be embedded by any firm/individual, ushering in ease while exploring and trading NFTs.

VeChain’s foray into the NFT marketplace sector signals its intent to dominate the vertical with its lucrative network prospects. The timing is particularly favorable to VeChain’s recent rendezvous, as the sector is undergoing an amalgamation of elements notably the rise of RWA and tokenization. In its latest blog update, VeChain acknowledged its timely foray into the sector, regarding it as a fortunate time to explore the domain.

“The platform’s arrival is timely, anticipating growing demand for real-world asset (RWA) tokenization tools. With a later iteration of the platform to introduce NFC functionality and the ability to support ‘phygitals’ (real-world physical assets with NFT/digital counterparts).”

How Will MAAS Help Elevating Its Price

VeChain recent exploration into the NFT sector is being dubbed profitable, by many analysts and investors on X. The new NFT offering may help VeChain onboard new investors and users. The influx may also inject a heavy volume of funds into the network, thereby spiking its price to new levels.

The launch of MAAS has triggered analysts on X to make long-term VET price forecasts. Analysts are predicting the token’s price to cross $0.052 soon. Tom Holland of CoinMonks has shared another price forecast claiming that VeChain can cross a dollar soon.

“Now in terms of long-term VeChain price predictions though we could be seeing VeChain close to a dollar. Or even pass one dollar,” he said.

However, CoinCodex predicts VET to undergo a bearish sentiment later this month.

Also Read: VeChain: How High Will VET Trade In April 2024?

“The VeChain price prediction for next week is between $ 0.043362 -$0.0.041750 on the high end.VET will decrease by -3.72% and reach $ 0.041750 by Apr 22, 2024, if it reaches the upper price target.”

For the year 2024, the platform predicts a stunning 200% surge for VET.

“VeChain is forecasted to trade within a range of $ 0.040787 and $ 0.169785. If it reaches the upper price target, VET could increase by 274.30% and reach $ 0.169785.”