Transak Enables Fiat Purchases on VeChain's New NFT Marketplace Service, Supports Gresini Racing's First Collection

26 Apr 2024

Transak to power Gresini Racing’s NFT collection sale on VeChain’s Marketplace as-a-service - cover (1)


Transak to power Gresini’s NFT collection sale on VeChain’s Marketplace-as-a-service.


Miami, Florida April 25th, 2023 -- Transak’s NFT Checkout has made its way on VeChain’s Marketplace-as-a-Service (MaaS) (MaaS) platform. The partnership and consequent integration opened fiat-to-NFT purchases for the platform in over 160 countries and at a low purchasing limit of just $0.01 — an industry first rate. On the heels of the partnership, Gresini Racing offered the team’s NFTs on the platform, as a part of its collaboration with Transak.

The partnership with Transak ensures the most simple and seamless checkout solution for Gresini Racing’s largely web2-native community. The combination of VeChain and Transak’s technologies are helping to streamline the use and adoption of blockchain tools, by abstracting away the technical nuances that would otherwise be necessary to perform an NFT transaction.

MaaS was recently announced by VeChain as a new platform that fulfills an important role within the digital asset space — a no-code NFT marketplace platform that represents both digital and physical products, for use by both individuals and businesses. The platform’s launch is a response to the growing demand for tools that facilitate the onboarding of tokenized real-world assets, streamlining the process for those unfamiliar with blockchain intricacies.

For sports clubs and racing teams like Gresini Racing, the advent of MaaS coupled with Transak's Web3-gaming-focused NFT Checkout solution is a game-changer. It opens up new avenues for fan engagement and monetization, allowing them to offer exclusive, tokenized content to a global audience.

Alessandro Raboni, Head of Growth at Transak, said: “We are thrilled to partner with Gresini Racing and for their new NFT marketplace launch on VeChain. This collaboration represents a significant leap in Web3 innovations as it effectively connects the world of motorsports with the new ownership-driven internet economy.

With Transak's NFT Checkout solution, fans worldwide can now effortlessly purchase NFTs using their preferred payment methods, from as little as one cent to up to seventy-five thousand dollars per transaction. This integration enhances accessibility and promotes a new dimension of fan engagement in motorsports.”

The partnership also brought into play the concept of 'phygitals', a blend of physical and digital assets made possible through NFC technology. This means fans can own a piece of memorabilia that is both tangible and enhanced with digital features, creating a more immersive and interactive experience.

Ben Moran, Product Manager at the VeChain Foundation, noted: “The launch of Marketplace-as-a-Service is a huge achievement for our team, representing a powerful new addition to our tool suite -  we can’t wait to see it deployed by users even more widely in the coming years.

This collaboration with Transak as NFT checkout service provider, allows us to greatly streamline the ease of use for Gresini Racing’s Motorsport fans, and make the whole experience a simple and enjoyable one.”

About Transak

Transak is a global web3 payment and onboarding infrastructure provider, facilitating seamless transitions between traditional finance and crypto assets. Web3 platforms using Transak can embed the best way to onboard users by enabling them to buy or sell crypto assets from 160+ countries, as Transak abstracts away the complexity of user KYC, risk monitoring, compliance, payment methods and customer support.

Transak’s product suite includes robust fiat-to-crypto services (On/Off-Ramps), a fiat-to-smart-contract solution (Transak One), and a fiat-to-NFT checkout solution. As a regulated, non-custodial payments layer, Transak supports onboarding to 170+ crypto assets across 75+ blockchains. Trusted by over 350+ applications, including MetaMask and Coinbase Wallet, Transak is making web3 applications more accessible.

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About VeChain

VeChain, headquartered in San Marino, Europe, is the curator of VeChainThor, a world-leading smart contract platform spearheading the real-world adoption of blockchain technology.

By leveraging the capabilities of ‘trustless’ data (information without intermediaries), smart contracts, and IoT technologies, VeChainThor has enabled enterprise solutions across a wide array of fields. VeChain now turns its attention to the greatest challenge of all — building digital ecosystems to drive sustainability and digital transformation at global scale.

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Transak Team