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FAQ for VeVe UK

What Is VeVe?

VeVe is a blockchain-powered virtual economy, which enables users to purchase and sell virtual goods using its digital currency, VeVe Gems. The platform allows users to create an account where they can store their gems, use them to purchase items from the VeVe marketplace or trade with other users. It also provides access to a range of applications developed by third-party developers.

Who is VeVe owned by?

VeVe is owned by the Singapore-based company VeChain Foundation. The foundation was established in 2015 as an open-source code platform for businesses to develop applications on the blockchain.

Can you get money from VeVe?

Yes, you can earn money through various activities within the VeVe ecosystem such as farming, staking, investing in the VeChainThor blockchain, or participating in gaming and entertainment. You can also earn VeVe gems by selling goods in the marketplace.

How much is a VeVe gem worth?

The value of a single VeVe Gem (VET) is determined by the market forces of supply and demand and is subject to change on a daily basis. As of October 2020, 1 VET has been trading at around US$0.0090.

Is VeVe a cryptocurrency?

Yes, VeVe is considered as a cryptocurrency because it uses blockchain technology to decentralize transactions and record data immutably on its ledger. It also follows the same rules that apply to other cryptocurrencies such as Bitcoin and Ethereum. Additionally, VeVe Gems can be used as a medium of exchange for goods and services within the VeVeco platform.