NEM (XEM) was quite for a while know, unless they announced their recent developments and projects today (10th Oct, 18). NEM’s biggest partnership among other partnerships was the one with VXN exchange. This collaboration will promote tokenization of venture capital assets, NEM tweeted:
“Our global teams have been busy this month with new #partnerships such as with the @vnx_io Exchange, new expansions including the business center in Chengdu, and events ranging from the United Nations to the Moscow Stock Exchange. Check it out!”
NEM (XEM) Partnership with VXN Exchange
NEM, the p2p digital currency and blockchain network announced the partnership with VXN Exchange. VNX Exchange, the world’s first marketplace and trading platform for tokenized venture capital assets. This collaboration will allow both networks to enhance protocols and quality for operating security tokens on the XEM blockchain. Kristof Van de Reck, Interim President for the NEM.io Foundation stated:
“I’m happy to see projects like VNX that are bridging the gap between the mainstream financial industry and the crypto-economy.”
Both the platforms are working together to create a liquidity plan to incentivize VC funds spending in newly started program of XEM ecosystem. These VC funds would be able to take part in initial security token contributions on VNX network. This will let them achieve the optimal liquidity. Van de Reck things that the tokenized assets are the future of capital markets. The blockchain technology provides huge chances to upgrade the financial markets.
Other Recent Partnerships and Developments
The recent developments of NEM (XEM) include the following partnerships and projects: Council election details forthcoming, VNX Exchange selected NEM for improving protocols, Heriot-Watt University — Dubai launched the first university-level blockchain challenge, NEM China established a new business development center in Chengdu, NEM NA participated in United Nations events, NEM has partnered with “itisportal” to develop the NEM Name Service (NNS), NEM Malaysia wrapped up the first Women in Blockchain event, Kristof Van de Reck spoke at a roundtable at the Moscow Stock Exchange, and a new training curriculum framework has been released for enterprises to use.
The ongoing planning efforts by NEM are following:
- NEM (XEM) are very close to communicating the plan with regards to the elections. As soon as that is released, they will give more information with regards to why there was a delay in communicating.
- Since the last update, there has been more tech-focused meetings, both internally and with Tech Bureau. All of this is helping NEM to get aligned with the goal of a more effective approach.
- The NEM Foundation blog post will be moving to a monthly publication date instead of bi-weekly (and will soon get a new format as well to improve how information is shared.)
Market Performance & Conclusion
Currently, NEM is at 17th place on the coinmarketcap list. At the time of writing, NEM was trading at a price of $0.105 with the market cap of $949 million. It trading volume was around $8 million. At the time of press, it was going down -0.6%.
But before the market heads back to a bull run, NEM is making itself prepare for that run and it has a decent chance of getting up to top 10. Investors have a good chance to invest in NEM because it really is the coin to invest in at the moment, and it will benefit more than the expectations of many during that run, as it will surge high.