holoride launches Ethereum Bridge on MultiversX

Today, holoride announced a cross-chain bridge between the MultiversX and Ethereum blockchains. The bridge, set to launch on October 31, offers seamless digital asset transfers of RIDE, the utility token of the holoride platform, across both blockchain protocols. This announcement supports holoride's vision of developing a vibrant and sustainable platform ecosystem that is powered by the RIDE token.

RIDE is designed to supercharge the connection between holoride subscribers, creators, and business partners by providing additional benefits that enhance engagement and add value for all users. Bridging between MultiversX and Ethereum creates unique opportunities for RIDE holders to freely and efficiently trade and store their tokens on either blockchain platform. RIDE holders on MultiversX can continue to stake on Ethereum, which will help foster a thriving ecosystem and strengthen the community’s position in the ever-evolving Web 3.0 landscape.

said Nils Wollny, CEO and co-founder of holoride “As a device and car manufacturer-agnostic company, creating the Ethereum bridge and supporting a new blockchain is in line with our technology-agnostic approach. We are thrilled to unlock more freedom for RIDE holders no matter how they choose to engage with the holoride ecosystem. For holoride, MultiversX is and will always be our home base from which we were able to launch our adventure and continue to offer new and exciting opportunities to our ever growing community.”

The creation of the Ethereum bridge continues holoride’s commitment to expanding its Web3 footprint in a way that supports a transparent, secure, and personalized in-car entertainment experience. With numerous recent endeavors in the blockchain space, including a partnership alongside Laura-Marie Geissler for the release of her second series of NFTs on both Ethereum and MultiversX, as well as a collaboration with XOXNO, the prominent NFT marketplace on MultiversX, holoride remains committed to ongoing innovation within its value-centric ecosystem.

RIDE is currently available on xExchange, Gate.io, MEXC and BitMart. After the bridge goes live, RIDE will also be available on Uniswap on Ethereum.

About MultiversX

MultiversX, previously known as Elrond, is the first blockchain protocol to combine all three (state, network, transaction) sharding aspects in an adaptive architecture that maintains the highest level of scalability and security. MultiversX is a high-throughput public blockchain aimed at providing security, efficiency, scalability and interoperability, beyond the current state-of-the-art.

About holoride

Combining the immersive and limitless potential of virtual reality and real-time data from in-motion vehicles, the holoride platform is an entirely new media paradigm. While passengers are immersed in a virtual experience, physical feedback such as acceleration and steering, as well as traffic data, route, and time, come together to create breathtakingly transformative experiences while reducing motion sickness. The experiential power of holoride’s “Motorverse” is further enhanced by the RIDE token, which was conceived to supercharge the social content ecosystem by delivering a more customizable and user-authored experience.

Munich-based holoride was founded in 2018 by Nils Wollny, Marcus Kuehne, and Daniel Profendiner, with Audi also on board as a minority shareholder. In 2021, holoride received the prestigious Best in Show award at SXSW Pitch after winning in the Entertainment, Gaming, & Content category. The company is a 2023 CES Innovation Awards Honoree and received “Best of CES 2019” honors from Tom’s Guide, CNET, and SlashGear. holoride is also recognized as one of the “100 Best Inventions of 2019” by TIME Magazine, and as one of the “100 Most Consumer-Centric Companies of 2022” by Forbes.