| Supply: AAG Ventures AAG Ventures
LOS ANGELES, Jan. 05, 2022 (GLOBE NEWSWIRE) — VinFast, the worldwide electrical car (EV) model owned by Vingroup – the most important non-public conglomerate in Vietnam with a complete capitalization of 34.9 billion USD from three publicly traded firms (as of Nov 3, 2021) – has partnered with AAG Ventures and Concord to announce a world-first in the usage of non-fungible tokens (NFTs) as a part of the EV reservation course of. That is the primary time NFTs have been utilized on this approach for the automotive trade, highlighting how blockchain know-how is being utilized in real-world use circumstances.
To speed up the event course of, VinFast partnered with AAG Ventures, a pioneering firm within the metaverse house, to develop a decentralized software on the Harmony blockchain. Due to the ultra-fast and ultra-economical Concord blockchain, the interplay is seamless. It turns into a part of the general expertise that prospects can look ahead to as Vingroup additional explores extra use circumstances inside its ecosystem.
The NFT course of
The NFT deployment works like: Clients who pay the reservation charge for his or her VinFast EV will obtain a VinFirst NFT, a certificates on the blockchain utilizing Concord, a broadly used cross-chain sharding protocol. This serves as a certificates of precedence membership for super-early adopters that help the model -whom VinFast calls “VinFirst” members. Following the VinFirst NFT, VinFast will airdrop numerous rewards and perks to its VinFirst members on occasion. The e – vouchers and NFTs will probably be transferable after April 5, 2022 and NFTs create a better technique to go on secondary market for the purchasers.
Pleasure within the blockchain group
VinFast’s pioneering use of NFTs has already created pleasure within the blockchain group. Commenters embody the Co-Founders of AAG Ventures – Nelly Sutjiadi and Jack Vinijtrongjit, NFT Collector Ben Yu, Co-Founder & CTO of Concord Rongjian Lan, and well-liked YouTuber Nas Day by day.
“Deploying the VinFast NFTs that will use a smart contract to manage the EV car reservation and planting of a physical tree that will offset carbon emissions is a wonderful showcase of the use of blockchain,” mentioned Nelly Sutjiadi, Co-Founding father of AAG Ventures and Concord Advisor & Validator. “True metaverse in action with real-world benefit – very cool and exciting!”
“We are super excited to see VinFast, the global EV brand, launch the world’s first NFTs for EV reservations on Harmony,” mentioned Rongjian Lan, Co-Founder & CTO of Concord. “This collaboration signifies the growing real-world adoption of blockchain technology and NFTs, which reduces friction and provides innovative approaches to benefit customers in the traditional business process. Harmony welcomes more traditional businesses with a forward-looking mindset to embrace blockchain technology and improve business process with our scalable & secure blockchain infrastructure.”
“By helping enable this collaboration with VinFast and Harmony, we are bridging both the digital and physical world,” mentioned AAG Ventures Co-Founder Jack Vinijtrongjit. “By owning a VinFirst NFT, you are not just an early adopter of the new VinFast EV; you also become a citizen of the Vingroup metaverse where you can enjoy the future benefits that the company will provide. That, to me, is an example of where the blockchain and NFT technology will become real – and transformative – to most people.” Vinijtrongjit added.
In keeping with NFT Collector, Ben Yu, “I’ve learned firsthand that VinFast isn’t just a nice name – they are one of the fastest moving companies I’ve ever had the pleasure of working with, and seeing them develop and launch the first-ever automobile OEM proof of membership NFT project in record time has really shown me that these are the right people to bet on. I’ll be reserving my VinFast EV, and hope you will join me.”
Judging from Vingroup’s earlier endeavors in frontier applied sciences, the applying of NFTs for EV reservations is not only a one-off marketing campaign, it is step one in its long-term imaginative and prescient for blockchain functions, not solely with NFTs or property but in addition different superior functions based mostly on blockchain know-how. Through the use of this know-how within the automotive sector, VinFast will grow to be the primary EV producer on this planet to undertake blockchain to create comfort in prospects’ each day lives.
| Supply: AAG Ventures AAG Ventures