‘Through blockchain and NFTs, we envision the highest level of personalisation for users while offering a one-of-a-kind XR experience with compelling monetisation opportunities for our partners’
Quick read
➨ The Audi spinoff closed a series A funding round worth €10 million last month
➨ Some of the funding is being used to expand its offering for content developers
➨ Holoride selected Elrond to provide the necessary blockchain technology, which will integrate with its own stack
The story
Holoride is combining three hit technologies of 2021—immersive media, blockchain and non-fungible tokens (NFTs)—to develop an ecosystem around in-car experiences.
The Audi spinoff, which is building an immersive in-vehicle media platform that is able to connect virtual reality and other immersive content to vehicle data points, closed a series A funding round worth €10 million last month.
The Germany-based company wants to expand its offering for content developers and sees blockchain technology, a decentralised, unchangeable ledger of transactions, and NFTs, digital certificates proving ownership that are stored in this ledger, as a means to deliver this.
Holoride says in a press statement that it wants to “transparently distribute content, fairly compensate developers based on user engagement time and value distribution, and provide an overall value-capture on a publicly accessible layer”.
Its NFTs and the digital items they represent will be transferable and tradable, potentially creating an entirely new ecosystem in which content developers can generate revenue.
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