Vention (VENTION) is a platform that lets anyone create, trade, or collect digital merchandise. According to its whitepaper, this platform is a digital place or marketplace where buyers and sellers meet to transact. Some marketplaces offer game items. However, at Vention, artistic merchandise, collectibles, and memorabilia are prioritized. Sellers can also sell physical art bundled with their original NFT, such as sculptures, paintings, etc.
The Vention network seeks to solve the problem faced by new artists. The problem with these newborn talents is they have to be discovered first before the world can admire their artistic excellence. These new artists face difficulties selling their limited edition digital merchandise. Vention claims to solve this problem by providing a digital marketplace that focuses on artists and their creations. The primary goal of the Vention platform is to attract local artists first but is not limiting itself to serving local artists; instead, it aims to be the first artist‑focused marketplace with an international reach.
VENTION is the native token of the Vention network. It is an ERC-20token that operates on the BSC (Binance Smart Chain) to fuel the Vention ecosystem. Transactions on the Vention platform, such as NFT creation, trading, buying and selling is completed utilizing the VENTION tokens. The total supply of this token is 1,000,000,000 VENTION, out of which 35 percent are locked for its treasury fund, 20 percent is distributed to the token sale (private and presale), 20 percent is burned, 10 percent is locked for the team allocation, 10 percent is for liquidity (Pancakeswap), and 5 percent is for an emergency. "Burning" a coin refers to the act of transferring a token to an account that can only receive them. This is done intentionally to remove the tokens from circulation permanently.
