Cryptheory – Just Crypto

Cryptocurrencies are our life! Get an Overview of Market News

Holoride to use Elrond for virtual reality NFTs

2 min read

Elrond NFTs

Holoride, a subsidiary of carmaker Audi, is bringing virtual reality into cars and will do so using Elrond’s blockchain and NFTs.

Holoride has made a name for itself in the tech world through its partnerships with the likes of Porsche, Daimler and Ford, and entertainment leaders such as Universal Pictures, Disney and the Discovery Channel.

As the official website explains, with Holoride, the car ride becomes like a tour in a theme park, allowing for an exciting experience based on augmented reality

With Elrond’s blockchain and NFTs, Holoride aims to improve. Elrond CEO Beniamin Mincu explains:

“Holoride’s novel combination of extended reality, spatial awareness, mobility, and blockchain technologies is set to effectively augment the value of every vehicle, transforming them from transportation devices into gateways to hyper immersive entertainment, education, and mindfulness experiences.”

Holoride’s developments with Elrond and NFTs

Having raised $12 million in a Series A funding round, Holoride now aims to integrate its offering with blockchain and NFTs from March 2022. The blockchain would indeed bring transparency to Holoride’s ecosystem by compensating developers based on the amount of time users are engaged, while with NFTs, the company aims to give its users the ability to customize their journey by purchasing non-fungible tokens. But Holoride’s NFTs will be based on Elrond and not the ETH blockchain:

Holoride CEO Nils Wollny told TechCrunch:

“We said we want to connect all our ecosystem partners in a very fair and transparent manner from the beginning, and blockchain technology delivers exactly on that. Every transaction and engagement can be stored in the blockchain. For car manufacturers, they can see how much time was spent with holoride experiences in their cars, and for content creators it’s transparent on how much time was spent with their title they have created for our platform”.

NFTs, on the other hand, could be virtual objects that the user buys during their in-car experience. CEO Nils Wollny adds:

“Imagine people are traveling in their virtual vehicle, maybe it’s a spaceship or a submarine, as their physical body is in a car driving through the real world. They might pass by a certain location where a content creator decided to put something passengers can collect on their way.

Or maybe the user is really good at a game they’re playing and they earn rewards while playing. You can maybe display them to other users or trade them in the future, bringing the real world and the virtual world closer together.”

The future of the platform will obviously depend on how well users like it. But Holoride is still a start-up and has plenty of time to change and improve.  


The post Holoride to use Elrond for virtual reality NFTs appeared first on The Cryptonomist.

Source link

All content in this article is for informational purposes only and in no way serves as investment advice. Investing in cryptocurrencies, commodities and stocks is very risky and can lead to capital losses.

Leave a Reply