VeChain Connects Physical and Digital Worlds with Groundbreaking Innovation, Phygitalizing Novak Djokovic’s 2023 Australian Open Racket for 640,000 VET

As CNF has been reporting, VeChain has been gaining significant traction in the groundbreaking innovation of Phygital which connect the physical and digital worlds. In the latest announcement, the network has confirmed that the auction of Novak Djokovic’s 2023 Australian Open racket is live on the Vechain network.

At the time of press, the racket of the world’s top tennis player is going for 640,000 VET which is approximately $11,815. Bids are still rolling in with about one day and a couple of hours before closing. Of note, sales proceeds will go towards a noble cause by supporting childhood education through the Novak Djokovic Foundation.

VeChain is revolutionizing the digital and physical world with the groundbreaking innovation of Phygital and by teaming up with Djokovic is actively driving interest. As CNF reported last month, VeChain has this year been heavily involved with prestigious tennis tournaments. This began with tennis tournament trophies ‘being awarded in the form of Phygitals, showcasing blockchain and NFT to global audiences.

Winners of the Association of Tennis Professionals (ATP) tour and the Women’s Tennis Association (WTA) were awarded their first NFT-integrated trophy called the “Phygital trophy” after a disruptive collaboration with Internazionali BNL d’Italia.

As for the sport’s fans, they enjoyed “a blockchain-powered experience through sustainably produced bracelets featuring QR codes to the landing page of ‘VeAces’ – an NFT collection developed by World of V that also serves as a raffle ticket”. About 150 attendees of the event were fortunate to receive phygital sports caps as part of this innovation, and many others were issued with tickets to the 2023 ATP Finals in Turin, Italy.

VeChain was able to demonstrate its technological abilities and how it continues to strive forward to reach greater heights. It further demonstrated its intention to blend blockchain technology and sports and engage its communities.

VET market outlook

VeChain’s native token VET has been struggling with the larger market and is at the time of press exchanging for $0.01847. This is a long way from its all-time high of $0.2782 reached about two years ago. Its current price tag offers investors a chance to buy in ahead of a potential bull run.

VET’s technical formation is still bearish with the asset lacking in buying momentum. Still, a majority of top analysts still peg it as a must-have in a crypto portfolio. One of the key factors is that the platform has continued to build despite the bearish market conditions. Over the last couple of months, the team has confirmed numerous partnerships with some of the biggest names in the business, a testament to the platform’s potential.