By
Svetlana Soroka
March 15th, 2023
holoride says its RIDE token will go on public sale on the Elrond Network at the end of November, providing additional benefits for users.
holoride has announced that it is debuting the RIDE token on Elrond Network’s strategic accelerator platform, the Maiar launchpad. The Audi-backed company, which is building the future of in-vehicle experiences, is launching its RIDE token with a public sale at the end of November. This is in preparation for holoride’s anticipated market launch in the second half of next year.
According to holoride, RIDE serves as the utility token for its platform. In addition, this is also at the core of its NFT-powered content ecosystem – resident on the Elrond Network. Furthermore, RIDE will provide additional benefits and enhanced user engagement as user incentives. The company’s vision is to transform every vehicle ride into a memorable adventure by merging vehicle movement with extended reality content. According to holoride CEO and co-founder Nils Wollny, the RIDE token will facilitate a holistic experience. In Wollny’s words:
“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.”
In order to realize this objective, the Elrond blockchain will provide support for the RIDE token and the content economy. Elrond, which is basically a technology hub for the new internet, uses a smart contracts execution platform in its application.
Beniamin Mincu, Elrond Network CEO, expressed his company’s delight with aiding holoride in facilitating its vehicle virtual experience. According to Mincu:
“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.”
The RIDE Token from holoride is One of Many Company Tokens to Hit the Market
Since its inception over 2 years ago, holoride has collaborated with prominent automobile brands. Some of these include Ford, Daimler, Porsche, and Audi – its backer. In addition, the virtual reality company also collaborates with media behemoths like Universal Pictures, Disney, and the Discovery Channel. The holoride company also promises that the best is yet to come with its impending first holoride-ready cars, in addition to a revolutionary in-car entertainment system. Founded in 2018, the company won ‘Best of CES’ four times. It also received recognition as one of the 100 Best Inventions of 2019 by TIME Magazine. Furthermore, holoride is also part of the global innovation platform ‘STARTUP AUTOBAHN powered by Plug and Play.’
The announced token sale is one of many efforts in recent times. For instance, in the last week of October, Osmosis raised $21 million in a private token sale. Investor platform Paradigm Ventures led the token sale with participation from a host of businesses. Participants were Ethereal, Nascent, and Robot Ventures.
Similarly, the Indian version of TikTok, Chingari is readying for its first-ever $GARI social token sale. Users will be able to use $GARI within the Chingari platform, and crypto VC platform Republic will lead the sale of the $GARI.
