VeChain: Walmart workload explodes and new green NFT marketplace launches

  • Walmart sets a new VeChain monthly transaction record in Dec. 2022. 
  • The achievement comes even as VeChain continues to get commendations for its promotion of sustainable technology. 

The partnership between Walmart China and VeChain continues to mark new milestones. Walmart crushed its previous monthly transaction record during the month of December.

According to data highlighted by pseudonymous VeChain community administrator VetMaik, the previous monthly record was set just in November. The feat points to the continued growth of the retail corporation and the workload it sends to VeChain, VetMaik noted.

Meanwhile, the December transaction volume was topped off with Walmart performing 1.8 million transactions in one single day during the month.

Walmart China uses the VeChain blockchain to power its blockchain-based food traceability and tracking solution. The platform allows Walmart customers to easily scan and track the history of food items bought for the chain’s stores.

According to a recent article by Michele M., the head of supply chain twin transition department at classification body DNV, the partnership has benefited both parties. For Walmart China, the solution has improved the speed and accuracy of its food traceability protocols.

The improvement was also achieved with a reduced associated cost and reduced losses while helping the brand prevent damage to its reputation. The DNV official cited Walmart’s VeChain integration as a prime example that blockchain technology is deployable in any industry.

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Similarly, VeChain has benefited from the massive transaction volume the platform has driven to the network. Walmart’s success is also leading the way for thousands of other companies to adopt VeChain.

VeChain continues promoting green and sustainable innovation.

Walmart is not the only brand that has recognized VeChain’s industry-leading position in providing sustainable blockchain solutions. VeChain’s blockchain-as-a-service (BaaS), Software-as-a-Service (SaaS), and Platform-as-a-Service (PaaS) solutions were recently commended by Laava ID.

In a tweet, the Australia-based digital identity company had high praise for VeChain’s first and largest non-fungible token (NFT) marketplace, World of V. It remarked that World of V is shaping a culture led by environmental sustainability and accessibility. The NFT marketplace is doing this by providing a zero-fee, green NFT marketplace.

Notably, Laava ID reached a partnership with VeChain last October. The company intends to adopt VeChain as its public blockchain service provider for its smart fingerprints protocol. The protocol is already gaining traction among food industry brands.

Meanwhile, World of V recently partnered with the VeChain Foundation to launch the first VeChain community digital collectible event. The event introduced the concept of “phygital” digital collectibles — combining NFT technology with physical collectible items.

The innovation and traction VeChain is seeing could potentially drive bullish sentiments for VET. At press time, VET was trading at around $0.017, up 9.08 percent in the last 24 hours. The daily performance has pushed the token up 10.6 percent in the weekly timeframe.

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