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The immediate action most of us take when stepping into our cars is opening a map.
Whether that’s Waze, Google Maps or Apple’s Maps is irrelevant – we all utilize some sort of digital GPS for many, many hours per year.
By using these applications, for free, on our phones, we feed immense amounts of data to the likes of Google, and Apple, who sell it to other companies.
It’s estimated that the market of geospatial analytics will be worth $256 billion by 2028. Source. 🤯
What do we get in return for enabling companies to make billions?
Absolutely nothing! That’s why you’ve probably heard the saying: “If the app is free, you’re the product.”
As explained in our DePIN report from a few weeks ago, web3 changes this landscape by letting users monetize their data.
Most of you loved that report (we saw all the emails) so today, we decided to dive into one of the most popular DePIN projects – Hivemapper.
Today we want to answer if investing in $HONEY – the token for Hivemapper – could allow you to capture the upside of that $256 billion mentioned above.
Hivemapper is building onchain to challenge Google and Apple for the multi-billion dollar mapping market.
Instead of exploiting users for their data, Hivemapper leverages a network of drivers from all over the world who use specific dashcams to collect geospatial data while they drive.
In return, drivers are paid weekly in $HONEY tokens – turning everyday driving activities into valuable data collection sessions.
To date, Hivemapper has successfully mapped ~8.4 million unique kilometers globally, covering 12% of the world's surface with the help of only 58,000 drivers.
Source: Hivemapper
That is unheard of – it would typically cost companies billions of dollars to achieve such scale.
By utilizing a token to reward people all over the world, Hivemapper has managed to pull this off in record time – they were only founded in 2015 and launched their network in November 2022. 🤯
Hivemapper might be one of the most exciting innovations to come out of the crypto ecosystem, and it has potential to sell data worth billions of dollars.
However, it’s not all rainbows and sunshine.
We’ve done a full deep dive into both the business model of Hivemapper (which looks good) and its $HONEY token (which doesn’t look so good… yet).
Today, we’ll share our learnings with you by covering:
- How Hivemapper Works & Makes Money 💰️
- Why Building Hivemapper Onchain Makes It Better Than Google or Apple 🧐
- The Role and Tokenomics of $HONEY ⚙️
- Considerations Before Investing 😨
Vamonossss! 👇️
How Hivemapper Works & Makes Money 💰️
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