VeChain has partnered with EVearn and Tesla to launch the innovative ‘Charge2Earn’ dApp, promoting sustainable driving practices. This collaboration showcases the potential of blockchain technology in sustainability efforts, which could lead to increased value for VeChain.
In a recent announcement by CNF, VeChain has joined forces with WoV Labs to explore ‘Phygital’ tokenization, a concept that combines physical and digital assets using Web3 technologies. With this new initiative, VeChain is working towards mainstreaming sustainability by encouraging community participation in eco-friendly activities to make a real-world impact.
The ‘Charge2Earn’ app, powered by VeChain and designed for Tesla vehicles, was introduced by blockchain influencer Collin Brown on his X account. This app connects to Tesla’s computer systems to monitor energy consumption and distance traveled, rewarding users with discounts on charging and other incentives. VeChain’s technology ensures the security and reliability of this process, protecting against fraudulent activities.
While the app currently supports only Tesla vehicles due to their open operating system, plans are in place to expand these features to other electric vehicles in the future. Presently, there are 3.5 million B3TR tokens in circulation, with a Total Value Locked (TVL) of approximately 1.37 million USD, indicating a growing interest in sustainable blockchain applications.
VeChain (VET) is currently trading at $0.03541, showing a 1.61% increase in the past day and a 0.22% rise over the last week. These gains reflect the positive market response to the collaboration between VeChain and VeBetterDAO, which seeks to integrate blockchain technology into sustainable practices. Investors are optimistic about this development, as evidenced by the positive movements in VeChain’s market value.