As we research daily about opportunities in the blockchain space, we have an open mind to new innovations and findings.
Some things we know and term “impossible” are becoming possible with new product releases from people working to make Web3 accessible to everyone.
A lot of NFTs out there to invest in but we choose to mint Ible City NFT from Vendiblelab.
The reason we chose Vendiblelab over other projects might be of interest to you, so we wrote this article to explain why.
Vendiblelab is one of those blockchain companies that spark our curiosity, so we invited them for an AMA session in our Telegram community to learn more about Vendible and what they do.
After the AMA session, we were blown with what they are building at Vendible, and what we stand to benefit if we decide to be a player in their ecosystem.
And the only way we can truly be a part of it is by supporting what the project stands for. So we dived in by minting from their NFT collection.
Before we tell you why we minted the Vendiblelab Ible City NFT, let’s walk you through what Vendiblelab is all about.
What Is VendibleLab?
Vendiblelab is a blockchain project that aims to enhance privacy and security in the Web3 space.
It’s an ecosystem of intriguing products that has been in development on the Algorand blockchain since 2017 and aims to expand to other blockchains to facilitate a cross-chain solution.
Founded by Douglas Broughton, Vendible utilizes DID (Decentralized Identifier) to ensure all users are unique and not bots — meaning if you are transacting with a user, you are sure they are a genuine identity.
Vendible works with identity validators to confirm the uniqueness of participants through biometrics and documents while ensuring complete privacy — this means that no one else except users can see their data.
All data submitted are returned to users and they are stored in the Vendible decentralized layer through end-to-end encryption, ensuring that no one can view those data.
With this, users will have their identity registered on-chain and also manage who views the data documented owing to the encryption – while giving them full ownership of their assets and data.
Vendiblelab also comprises a product called Trustible.
Trustible
Trustible enables users to recover their wallet or private key when they misplace it. This will be achieved through the DID (decentralized identity) process in the system.
Before now, when we lose our private keys, we are certain that we have lost complete access to our wallet and the fund that is in it.
Now, with the use of Trustilbe, that has been overridden. Because we can now recover our wallets despite losing our private keys. no keys, no worries.
Trustible helps to store our private keys in case of loss and in the process, no outside party, including Vendible, ever sees, stores, or has any possible means of accessing your keys.
They are protected and secured by the information we add to our decentralized identity vault.
Fascinating.
Why We Minted Vendiblelabs Ible NFT
In every investment made, there should be a “why” you made that decision, and certain factors have to back it up.
The reason why we minted Vendible Ible City NFT is because of its rarity and utility.
Ible City is an NFT project in the Vendiblelabs ecosystem developed to grow and support the launch and operation of Trustible, and holders are entitled to VEND rewards for supporting the cause.
The first purpose of Ible City is to combat air pollution that has been a major threat to health over the decades, while the other utility is to create awareness for Trustible.
However, its goal is also to ensure that Trustible can operate in different blockchain networks, including Bitcoin, Ethereum, Solana, Algorand, Polygon, etc.
Therefore, the Ible City NFT will be available on all chains, and users of these blockchains can easily mint this NFT.
Likewise, all of the Ible City NFTs in every blockchain has an identical utility, and they are interchangeable.
Concerning the utility of Ible City NFT, below are what Ible City members stand to gain; Ible City members are those who own at least one of the NFTs.
- 10% – 70% discount on Trustible subscriptions
- Free PFP NFT at testnet
- Enhanced PFP NFT each time you level up
- Free testnet NFTs
- Future years subscription locked in at current rates
- First access to testnet and VEND rewards
- Special events with the team and a private chat room
- Preferred access to future offerings
- Can be sold when we have registered all of our accounts so others can use discounts
- Higher levels can rent xNFT to others creating a revenue stream!
- Higher levels receive increased DAO treasury dividends (in ALGO, BTC, ETH, etc)!!!
Conclusion
Vendibelabs is a blockchain project that aims to make defi accessible to everyone. That’s why at Bull Network we’re fully participating in the Vendible ecosystem.
