VeChain tries to create unnecessary hype over ‘partnership’ with Amazon

YEREVAN (CoinChapter.com) — Cryptocurrency and smart contract platform VeChain is at it again. In a desperate yet funny attempt, it is trying to create unwarranted hype over a so-called “partnership” with Amazon Web Services (AWS). 

This did not go unnoticed by the community. Users began trolling the company over it, reminding everyone of previous similar ‘partnerships.’ 

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Why is VeChain’s partnership with Amazon no big deal? 

On August 2, the VeChain Foundation announced a partnership with Amazon Web Services (AWS). The collaboration was meant to support its VeCarbon platform.

VeCarbon hopes to provide information to companies and governments about their carbon footprints. This will help them achieve their long-term goals of carbon neutrality. 

Meanwhile, Amazon Web Services offers storage and analytics solutions to anyone who pays for them. As one user pointed out, VeChain is probably just using their services and trying to peddle it as a partnership.

“We are delighted to share that Amazon Web Services has become a Technical Partner, helping enable VeCarbon’s grand ambitions,”

 the team announced. 

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VeChain made this announcement in May

In what has caused further embarrassment for the company, the partnership with Amazon is not “an exciting new chapter“ for VeChain. It wasn’t long back that they had put up the same post on their website. 

In May 2022, the company had already revealed its partnership with Amazon. It is, therefore, bizarre that they have now opted to spread this post again as a ‘new development.’ 

This, too, did not skip the attention of many users, ultimately resulting in VeChain apologizing for the post. 

One cannot accuse them of lying. Even AWS posted that Shanghai Tanlian Technology Co., the company behind VeCarbon, had chosen them “as its technical partner.” 

However, we must agree that the post is at least unclear and open to interpretation. 

Nonetheless, the hype seems to have worked. After the post about the partnership with Amazon reappeared, the price of VeChain’s native token VET soared. Over the past two days, it has jumped about 17%, allowing some critics to speculate if the whole thing was done intentionally. 

VET also reclaimed a $2.2 billion market cap, becoming the 33rd largest cryptocurrency in the world by market value, according to CoinMarketCap.

So yeah, VeChain is using Amazon Web Services, but all this talk about ‘partnership’ is perhaps, as William Shakespeare would put it, “much ado about nothing.”