Accelerating into the future: holoride releases its own cryptocurrency

Announcing the launch of the holoride token RIDE on the Maiar Launchpad

holoride token visualized in galaxy

The moment is finally here. Following our announcement back in May about the deployment of blockchain technology, we are taking the next step in supercharging the holoride ecosystem by launching the RIDE token, holoride’s very own cryptocurrency. We're excited to be debuting the blockchain component of our multi-layered tech stack on the Maiar Launchpad, as the first ever project on Elrond's strategic accelerator platform.

Changing the way we RIDE

Let’s take a step back and look at the bigger picture to add context to this major milestone in our roadmap.

The automotive industry is undoubtedly experiencing a technological renaissance. In fact, this is probably the most disruptive transformation phase ever since the first cars were introduced and changed transportation forever. Electric vehicles and the need for sustainable mobility are some of these transformation drivers. However, so are new technologies, changes in consumer behavior, and the interconnectedness of people, devices, and surroundings.

While technology has had a major impact on improving the experience for drivers, the passenger experience still remains a field with massively untapped potential. Today’s in-car entertainment offerings don’t match passenger expectations or the zeitgeist of the 21st century when looking at how time spent on the go can be used. Being a passenger remains in many cases - then and now - a mundane experience.

The in-car entertainment revolution is here

At holoride, we have created something radically new that entertains backseat passengers in a way that is totally seamless: a new media category made for moving vehicles. We call it Elastic Content and our revolutionary approach will change the passenger experience for good by turning vehicles into moving theme parks.

Now, imagine for a moment what it would mean for our vision and the technology we’ve built to become the gateway for immersive in-car entertainment, extending the addressable market to the global passenger universe and transportation modes.

Introducing RIDE

According to Nils Wollny, CEO & co-founder holoride,

The RIDE 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.

RIDE is the utility token of the holoride platform that sits at the heart of its NFT-powered content ecosystem, built on the Elrond Network. RIDE is designed to provide incentives for using holoride by providing additional benefits and enhanced user engagement.

Leveraging blockchain technology

By using the power of blockchain technology, we aim to transparently distribute content, fairly compensate developers based on user engagement time and value distribution, and provide overall value capture on a publicly accessible layer.

holoride is partnering with Elrond Network, one of the most scalable blockchains in the market, to use the high throughput, inexpensive, and user-friendly Elrond blockchain to enable cars everywhere to rapidly integrate into our platform, unhindered by any performance, cost, or user experience barriers. Beniamin Mincu, CEO Elrond Network comments

With strong support from Audi, holoride is leading a new innovation front that has the potential to be transformational for the automotive industry and bring Elrond technology into the hyperconnected cars of the future. We are thrilled to accelerate the adoption of a new technology and business vertical as the first project on the Maiar Launchpad.


holoride ecosystem visualized with all stakeholders



What’s next?

We’re looking at some exciting weeks ahead in preparation for the public sale of the RIDE token which will take place on the Maiar Launchpad on the 26th of November at 2 p.m. UTC. RIDE will be listed on the Maiar Exchange listing of the RIDE token after that. All details can be found on the Elrond blog.

We would also like to thank all holoride supporters, especially Faculty Group and Iconomy Partners who’ve incubated this project. We’re also thankful for the ongoing trust from our investors and, of course, the tireless efforts of the entire team at holoride. The future is here and the spaceship is preparing for take off.

Onwards!

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”.