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Audi-backed Holoride Is Deploying Blockchain Tech and NFTs using Elrond Platform

UTC by Bhushan Akolkar · 3 min read
Audi-backed Holoride Is Deploying Blockchain Tech and NFTs using Elrond Platform
Photo: Holoride

Leveraging blockchain technology, Holoride will create a premium in-car entertainment experience for content creators and users alike. Besides, the NFT integration will developers create specific utilities while retaining the value of their creations.

Audi-backed Holoride, popular for creating a unique passenger entertainment experience is now aiming to leverage blockchain tech and NFTs for its market launch next year. Last month, Holoride successfully closed a $2 million Series A funding round.

Holoride now plans to integrate Elrond blockchain into its tech stack to create further transparency for its manufacturing partners and content creators. Holoride also plans to ride ahead on the recent craze of non-fungible tokens (NFTs). This move will help developers to create more content on the Holoride platform.

The idea basically is to personalize the in-car experience of passengers while letting developers earn money off token purchases. Holoride CEO and founder Nils Wollny said that the blockchain integration has been in the works over the last year. He added:

“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. 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.”

Holoride Building a User-Centric Immersive Experience with Blockchain

Holoride said that it is building the world’s first immersive in-vehicle media platform. The platform processes motion and location-based data in real-time. Thus, it will enable content creation that can adjust to travel time, vehicle motion, and route. The idea is to perfectly sync the content creation with the user journey.

Apart from just incentivizing developers and content creators, Holoride has plans to further incentivize users as well. Using the blockchain technology, Holoride will have social currencies and unique NFTs which can significantly enhance the passenger experience.

Automobile giant Audi has been backing Holoride’s efforts to unlock new opportunities in the blockchain space. It is open to future technologies that provide customers with unique and premium in-car experiences. Sven Schuwirth, Senior Vice President Digital Experience and Business at AUDI AG said:

“We’re excited to explore blockchain’s potential with holoride.We strongly believe that it is all about creating meaningful and customer-centered experiences. In the future this will become even more vital and a major differentiator. Audi’s investment in this initiative represents a step in that direction.”

The NFT integration on the Holoride platform will help developers to create specific utilities while allowing them to retain value of their creations. The official blog post notes that “digital items and collectibles on holoride’s platform, represented by NFTs, are intended to be transferable and tradable, unlocking an unprecedented experience and commercial value within the in-car entertainment space”.

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Bhushan Akolkar

Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.

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