VeChain has integrated Tesla’s Application Programming Interface (API) to introduce blockchain-powered sustainability tracking and rewards for electric vehicle (EV) drivers.
The partnership introduces EVearn, a blockchain-based rewards program designed to incentivize eco-friendly driving behaviours without requiring users to understand blockchain technology.
VeChain CEO Sunny Lu noted the importance of turning everyday actions into rewards.
“At VeChain, we believe that small, meaningful actions can drive global change. By integrating with Tesla’s API via EVearn, we’re turning everyday behaviors into rewards, encouraging individuals to make better choices while benefiting directly,” said Lu.
VeChain is a blockchain platform focused on supply chain transparency and sustainability. It was launched in 2015 by Sunny Lu, former CIO of Louis Vuitton China. Originally built on Ethereum, VeChain transitioned to its own blockchain, VeChainThor, in 2018.
Through Tesla’s API, EVearn allows Tesla drivers to earn rewards for sustainable activities such as charging at renewable energy stations, opting for off-peak charging times to reduce grid stress and sharing anonymized driving data for environmental research.
These actions will be recorded on VeChain’s blockchain, for transparent tracking and automatic rewards distribution via the B3TR token. The tokens can be redeemed for sustainable products, and services, or donated to environmental initiatives.
At the time of writing, B3TR was trading at $0.3108, down 15.9% in the past 24 hours. The token's 24-hour range fluctuated between $0.3043 and $0.3874, with a market cap of $22.9 million and a 24-hour trading volume of $315,110.
According to a Paythru survey over 73% of EV drivers are interested in loyalty programs for sustainability.
Initially, EVearn will launch for Tesla drivers as part of a pilot program in the first quarter of 2025, with plans to expand to other EV manufacturers and regions throughout the year.
Tesla reports $600 million in Q4 Bitcoin gains
Tesla gained $600 million from its 11,509 BTC holdings in Q4 2024, according to its latest SEC filing.
The company initially bought $1.5 billion worth of Bitcoin in early 2021, acquiring 39,474 BTC at an average price of $38,000 per coin. However, Tesla sold over 70% of its holdings in 2022.
Tesla’s remaining 11,509 BTC is now worth approximately $1.1 billion, based on Bitcoin’s current price of over $97,000, according to Arkham Intelligence.
