VeChain Seeds Sustainability Initiatives in Europe with Multi-Year ATP Partnership

VeChain Foundation San Marino was pleased to debut as a silver partner of the Nitto ATP Finals, the grand finale of the ATP Tour, where the eight best tennis players in the world competed “for the final singles and double titles of the year, taking place between the 13th to 20th of November.”

All participants in the singles category “were previous champions, with a combined 26 titles between them in 2022 alone.” After an exhilarating week, Novak Djokovic “emerged the ultimate singles champion from Pala Alpitour’s centre court, defeating Casper Rudd in a 93 minute straight set.”

Echoing that same spirit of excellence, respect for fairness and sportsmanship displayed by the players of the ATP, the VeChain Foundation is “building blockchain technologies with the aim of unlocking the digital-sustainable revolution for the global economy.” It aims “to become the foundational layer that helps enterprises and society make insightful decisions and solve various sustainability challenges and track environmental impact.”

Seeding their expansion in Europe and the wider world by leveraging ATP’s annual global viewership of 1 Billion, VeChain will “support the prestigious ATP season, to be hosted in the city of Turin, until 2025.”

The Gattinoni Hub “in the center of Turin was instrumental for the many bilateral meetings that took place, focusing on sustainability and technology.”

They attracted many professionals and co-sponsors of the ATP “alongside invited guests, totaling over 200 individuals in total, communicating updates and progress of the VeChainThor ecosystem and blockchain.”

In the weeks leading up to the Nitto ATP finals in Turin, VeChain launched its first official digital collectibles collection — “VeBounce”, a green Digital Collectibles lottery “in collaboration with Explus and WorldofV (www.worldofv.art), which oversaw the minting of dozens of additional Digital Collectible prizes, revealed in a sweepstake style mechanic after all 5,000 VeBounce collectibles were claimed.”

Among them were 20 ‘phygital’ (physical-digital) prizes, “which saw CEO Sunny Lu and ex-professional Tennis star, Flavia Pennetta, sign physical Tennis balls with QR codes linking to an blockchain-based NFT — essentially a unique digital identifier — a concept known as a ‘digital twin’.”

In this way, VeChain uses blockchain technology “to demonstrate the provenance, authenticity, ownership and other relevant information of a given item — a concept that can be applied to many different use cases, whether a land deed, luxury item, or a fine food item.”

Upon arrival in Turin Porta Nuova station, ATP guests “caught a glimpse of VeChain branded advertising boards displaying video content, produced by GS Retail, reinforcing our commitment to contributing to, and supporting, the Italian community.”

During the week of the Nitto ATP Finals, VeChainThor also “oversaw a significant Mainnet upgrade with the implementation of Proof of Authority 2.0 (PoA2.0) and the inclusion of the ‘Finality with One Bit’ (FOB) gadget.”

The seamless upgrade “introduced a critical mechanic for the future of VeChain and its sustainability directives by enabling absolute finality and data quality assurance.”

The upgrade “solves a classic trade-off in the 2 most common types of blockchain architecture, combining their strengths and eliminating the weaknesses of each.”

This ensures the VeChainThor blockchain “is both scalable with robust security while being able to offer guaranteed data quality, meeting strict data-related regulatory standards.”

For the kinds of global scale sustainability ecosystems VeChain is “building, data security is paramount, with every data point vital to delivering its objectives.”

VeChain recognizes this sponsorship as “a global platform to share evolving and fresh ideas of developments within the blockchain realm alongside pioneers, business leaders and universities in Italy and beyond.”

The #VeFam community can “expect plenty more interesting events and initiatives in the next four years as [they] continue our journey alongside our existing and yet-to-be-announced partners.”

Renato Grottola, member of the board of VeChain:

“We want to help companies, organizations, public administrations and people to contribute to common goals regarding sustainability. This is why VeChain wants to be the reference platform for all those who want to implement sustainability-oriented digital solutions based on blockchain. In this context, partnerships with important sports realities allow us to speak to a different target, and thus bring the issue of sustainability connected to the blockchain to the attention of ordinary people as well.”

As noted in the update, VeChain Foundation headquartered based in San Marino, Europe, is “the non-profit organisation behind the development of VeChainThor, the leading smart contract blockchain platform for real world adoption.”

By leveraging the capabilities of ‘trustless’ data (information without intermediaries), smart contracts and IoT technologies, VeChainThor has “delivered solutions in a wide array of fields, now turning its attention to arguably the greatest challenge of all — delivering sustainability at global scale.”

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