Passengers and developers alike will benefit from the companies integration of a blockchain ecosystem.
Holoride made waves back in 2019 with the reveal of its vehicle-powered XR entertainment platform. Since then, the company has been on a mission to create the next generation of backseat entertainment using a combination of navigation, car data, and immersive technology, resulting in one of the more ambitious projects within the XR space. Now, it appears as though holorides’ increasingly impressive platform will include its own blockchain ecosystem.
According to the company, vehicles outfitted with holoride technology will be able to receive new XR content as it’s launched, offering passengers a growing catalog of backseat immersive experiences designed for both short commutes as well as long road trips. In addition to offering passengers a new form of interactive entertainment, this new system will ensure that creators are compensated fairly for their hard work. Revenue will be distributed to developers based on passenger engagement and value capture on a publicly accessible layer.
This is an important step for the company as it prepares to launch its platform globally in 2022. Holoride’s backseat XR platform already has several major companies within the auto industry looking to partner.
Audi, for instance, sees holoride’s blockchain system as a potential new form of decentralized ledgers. For Sven Schuwirth, Senior Vice President Digital Experience and Business at Audi AG, Audi’s investment is about exploring blockchain’s role in the creation of meaningful customer-centered experiences. According to Schuwirth, “this future will become even more vital and a major differentiator.”
Elrond (the crypto and not the half-elf) will be used as the blockchain layer that will be integrated with holoride’s technology stack. Beniamin Mincu, CEO & co-founder of Elrond, believes that holoride is in a unique position to bridge digital media and mobility using blockchain technology. This “bridging” would benefit holoride by allowing the company to employ Elrond’s core strengths of speed, security, and energy efficiency.
Another benefit of using blockchain technology is that it enables the company to build exciting economic incentives, such as NFT’s and social currencies, thereby allowing passengers the chance to earn rewards as they play.
NFTs included within this blockchain ecosystem will feature specific benefits that allow developers to retain the value of digital items and collectibles they’ve created. These digital items can be transfered and traded among passengers, resulting in more rewarding XR experiences that could boost the commercial value of the in-car entertainment space.
In an official press release, Nils Wollny, CEO and co-founder of holoride, said, “As we look to expand across global markets, blockchain technology and NFTs help us scale while securing the integrity of our developer-centric and car manufacturer-agnostic approach,” adding, “Our mission is to make transit time more valuable for everyone. Through NFTs, we envision the highest level of personalization for users while offering a one-of-a-kind XR experience with compelling monetization opportunities for our partners.”
In 2020, holoride announced that the company would be creating an advisory board composed of major names from the entertainment and tech industries to help the company design an ambitious roadmap. “We have our eyes set on the future, and this technology will help get us there,” continued Wollny. “We’re thrilled to continue moving towards our wider market launch next year and show everyone what’s yet to come.”
To learn more about holoride and their vision, check out their website here.
Feature Image Credit: holoride