holoride’s token, RIDE, is being built on top of the proprietary core technology provided by holoride GmbH. The RIDE token is issued by holoride AG, Liechtenstein, and will supercharge holoride’s in-experience economy by creating sustainable engagement value for passengers. Furthermore, the RIDE token will power holoride’s partner network, enabling its participants to capture the value created.
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 token use cases will be constantly expanded over the coming years. The following section will explore some of its initial functionalities.
RIDE token holders will be able to participate in the governance of the holoride platform, and, therefore, play an essential role in making important decisions about its feature development and content portfolio.
User subscriptions, digital items, upgrades, and brand placements will be purchasable with RIDE tokens at a discount from their Fiat price. Token holders will also be granted early access to content and rare collectibles.
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 to deposit them in the holoride treasury to fund the sustainable development of the ecosystem via grants and other incentives.
Content creators and car manufacturers may receive RIDE as part of user engagement with NFTs via transaction fees on the bulletin board* or via direct sales of NFTs. holoride will ensure that balances can also be settled by burning RIDE and paying out partners with Fiat currency.
Create, sell, and 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.
Individualization & Ownership
A standard practice in the gaming industry is in-game purchases – personal upgrades or individualization offers in the form of digital items. Additional revenues will be generated by these purchases once players get involved.
In addition, unique in-game currencies are often created for these purchases to add value through enhanced functionalities, enable a universally and globally accepted in-game payment standard, or enable special discounts if players pre-purchase a specific credit – just to name a few. holoride will emphasize similar mechanics in its experience ecosystem by creating its own social currency.
To further boost the experience quality, holoride will allow for personalized avatars, vehicles, tools, skins, trophies, and more. For this, holoride will be utilizing non-fungible tokens (NFTs). While fungible items are anything that can substitute another item of the same category, NFTs are blockchain-based tokens that represent unique or rare digital assets. Thus, NFTs can enable users to truly own in-experience items and transfer their assets from one experience to another. In addition, users can sell their in-experience NFTs in holoride marketplaces.
Apart from revolutionizing in-experience ownership, NFTs will help holoride create a single digital identity for all its experiences. This means users may be enabled to move their skins, experience levels, and other in-game items across experiences (a.k.a. the holoverse), thus creating a more unified holoride passenger experience. As a result, on top of access to the (interactive) holoride content library (games, experiences), subscribers may receive access to additional features:
A store, allowing the purchase of the subscription and in-experience items, including limited NFT editions.
Garage or cockpit
A customizable holoride garage or cockpit, allowing users to arrange and view the items they have collected.
A collectible bulletin board, powering the in-platform buying and selling of NFTs.
An NFT auction hall, where users can purchase or bid on exclusive limited NFTs for their favorite content.
holoride plans to establish a “Ride-to-Play-to-Earn”-cycle that incentivizes users for their engagement with holoride experiences. To foster the transition to sustainable transportation, a ride in an electric car or the usage of ride sharing services can earn users extra benefits.