Over the next few weeks, we will be sharing insights about how we envision the RIDE token to supercharge our ecosystem. These insights will shed some light on functionalities, token sale details, and much more. We’d like to start with RIDE utilities to give you an idea of actual token use cases.
RIDE is the utility token of the holoride platform that sits at the heart of its ecosystem. RIDE is designed to give incentives for using holoride through its dynamics of providing additional benefits and enhanced user engagement.
The token will be essential for building a vibrant and sustainable economy for the holoride ecosystem, connecting car manufacturers, content creators, brands, and passengers, and enabling them to capture value along the way. Integrating blockchain into the holoride ecosystem will make our platform fully transparent from the beginning.
Utility
RIDE token use cases will be constantly expanded over the coming years. Here are some of its initial functionalities:
- Ecosystem governance: RIDE token holders will be able to participate in the governance of the holoride platform and make important decisions about its feature development and content portfolio.
- Community benefits: User subscriptions, digital items, upgrades, and brand placements will be purchasable in RIDE tokens with a discount from their Fiat (government-issued currency e.g., USD, EUR, etc.) price. Moreover, RIDE token holders will be able to participate in special events and will be granted early access to content and rare collectibles.
- Create, sell & buy in-experience items: The holoride marketplace will enable users and content creators to mint unique NFTs based on their experiences in exchange for RIDE tokens. The resulting NFTs can then be bought and sold using RIDE.
- Partner royalties: Content creators and car manufacturers may receive RIDE as part of user engagement with NFTs via transaction fees on the bulletin board (e.g., 5%, split equally between the original content creator, the car manufacturer the NFT was minted on, and holoride) or via direct sales of NFTs. holoride will ensure that balances can also be settled by burning RIDE and paying out the partners with Fiat currency.
- Grant program: a certain percentage of holoride’s revenue, Fiat purchases, smart contract royalties, etc., will be used each month to purchase RIDE tokens from the open market and deposit them in the holoride treasury to fund the sustainable development of the ecosystem via grants and other incentives.
The incentives for utilizing RIDE will increase with the number of users and engagement with experiences, as well as the creation of new ones, thus creating value for all stakeholders.
Token Metrics
Max Supply: 1,000,000,000 RIDE
Circulating Supply at Launch: 130,000,000 RIDE (13%)
Market Cap at Launch: $5,200,000 USD
Fully Diluted Value at Launch: $40,000,000 USD
The public sale will take place on the Maiar Launchpad on the 26th of November at 2 p.m. UTC.
About holoride
holoride creates an entirely new media category for passengers by connecting Extended Reality (XR) content with data points from the vehicle in real-time. These data points include physical feedback, like acceleration and steering, traffic data, as well as travel route and time. holoride technology provides a new type of immersion into any kind of VR content, creating a breathtaking, immersive experience, and significantly reducing motion sickness.
The tech startup was founded at the end of 2018 in Munich, Germany by Nils Wollny, Marcus Kuehne, Daniel Profendiner, and Audi, who holds a minority stake in the startup.
In April 2021, holoride raised €10 million in its Series A funding round led by Terranet AB, earning the company a €30 million valuation. That same year, holoride won the prestigious SXSW Pitch and was also named Best in Show. It has been hailed “Best of CES 2019” four times, recognized as one of the “100 Best Inventions of 2019” by TIME Magazine, and is part of the global innovation platform “STARTUP AUTOBAHN powered by Plug and Play”.
For more information, visit www.holoride.com
