VeChain joins forces with billion dollar company to create scalable metaverse. The Altcoin project aims to grow exponentially in the future with the development of the individual-purpose Digital Village. The $4 million funding is expected to go towards advanced avatar customization and virtual store creation to enable brands and creators to deliver immersive virtual experiences.
The future of Digital Village in VeChain (VET) network
The VeChain ecosystem has received great fundamental support from several companies, including L’Oréal’s venture capital fund BOLD and the British Fashion Council, which have teamed up to develop a metaverse ecosystem. BOLD, Venture Reality Fund Venrex and the British Fashion Council, among others, have raised $4 million in a funding round for a French metaverse developer called Digital Village.
cryptocoin.com As we have reported, VeChain aims to grow exponentially in the future with the development of the individual purpose Digital Village. According to Evelyn Mora, founder and CEO of Digital Village, technology is enabling ‘the next evolution of individual use’.
Specifically, Digital Village is revolutionizing individual and community engagement by equipping Web3 developers with the tools to create immersive virtual experiences in the metaverse. As such, the $4 million funding is expected to be used to enhance the platform’s capabilities by adding new tools to power 3D world development. Additionally, funding is expected to be directed towards advanced avatar customization and virtual store creation to enable brands and creators to deliver immersive virtual experiences. Marco DeMiroz, co-founder and general partner of Venture Reality Fund, says:
As brands and creators have come to expect from e-commerce and website builder platforms, there is no simple end-to-end solution for virtual experiences. Digital Village’s model will solve this by providing robust, aesthetically advanced templates so anyone can create immersive experiences that are accessible and interoperable.
The collaboration of Digital Village and VeChain network will assist Web3 developers who want to enter the metaverse and NFT market scale seamlessly. In addition, L’Oréal is a well-established French personal care company founded over 109 years ago. Camille Kroely, chief metaverse and Web3 officer at L’Oréal, commented on the partnership:
We aim to work with the most promising start-ups, committed to the highest possible visual and technical standards. Their solutions will be powerful enablers for our brands and we are excited to partner with Digital Village, where we share the ideals of sustainability, accessibility and interoperability in the metaverse or Web3.
Altcoin price performance
Experts expect the adoption of blockchain technology to established traditional companies will increase further in the coming years as regulators draft policies that support the digital market.
Meanwhile, the altcoin price was trading around $0.02004 at press time, up 4.68% on a daily basis. The seven-year, eco-friendly, enterprise-grade Blockchain ecosystem has reached a valuation of $1.77 billion with hundreds of partnerships. Moreover, VeChain Blockchain boasts over 100 million on-chain transactions from more than 3,000 corporate users.
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