# Traction
Following an extensive multi-year pre-launch phase, The labor market credentialing ecosystem was successfully launched in 2024 backed by a [global community](https://www.velocitynetwork.foundation/foundation) of diverse labor market and education stakeholders. These include employer and education associations, the leading software vendors to the worlds of work and education, industry associations, and relevant governmental and multilateral organizations. Since the launch, millions of credentials have already been issued and claimed on the network.
Career and education credentials issued to individuals and anchored on-chain
* **>1 million individuals -** including nurses, bankers, and students—have installed career credentials wallets and used them to claim their credentials from universities, assessment vendors, certification providers or past employers.
* **>2 million career and education-related credentials** have been issued to individuals, demonstrating the network's scalability and sustainability.
* **>130 organizations** are already fully active on the Mainnet, including large employers, educational institutions, leading global assessment vendors, and prominent recruiting and staffing companies.
The community’s hard work has demonstrably paid off, exceeding even our most ambitious goals. As a result, the Velocity community is primed for the next step in its decentralization journey**: launching the Velocity Oracle Network and introducing** $VELOCITY**— a publicly traded native utility token.**
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