Italian retail cooperative Gruppo VéGé says it is the first modern distribution player in the country to launch a Non Fungible Token (NFT).
The novelty was introduced to celebrate the brand's inclusion in the special register of historic brands of national interest, managed by the ministry of business and Made in Italy, the official portal if Italian manufacturers.
The NFT, entitled L'Italia faceva la spesa, Gruppo VéGé faceva la storia, is available in 99 copies on the industry benchmark OpenSea platform.
Currently, the 99 copies of the NFT are only available upon request, with priority given to member companies.
Giorgio Santambrogio, CEO of the VéGé Group, commented, "The creation of this NFT represents the first step of the VéGé Group in the world of the blockchain, an area that is opening up scenarios of great interest also for modern distribution.
"It is an innovative way to underline the importance of our brand which has been included in the special register of historical brands of national interest, a recognition of the extraordinary journey started by the group in 1959."
Gruppo VéGé NFT
As of 1 February, anyone interested in having a copy of the NFT, in the Gruppo VéGé account, on the OpenSea platform can launch an offer.
Gruppo VéGé said it will continue further development of the project, based on feedback from this pilot initiative.
With 35 principal companies, a market share of 7.9%, 3,809 stores and a sales area of 2.84 million square metres, Gruppo VéGé closed the year 2022 with a turnover of €12.65 billion.
The group ranks fourth in the national ranking of modern distribution players, according to Nielsen data from September 2022.
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