Round | Amount | Valuation | Date | Investors |
---|---|---|---|---|
-- | $18M | -- | Apr 05, 2022 |
Hivemapper is a groundbreaking project that uses blockchain technology to decentralize map creation, employing a network of dashcam-equipped drivers to collect street-level imagery. Launched on the Solana blockchain in November 2022, it incentivizes participants with HONEY tokens for contributing data, aiming to create a constantly updating and expanding global map. This model offers a stark contrast to traditional, centralized mapping efforts, focusing on community contribution and real-time data freshness.
Participants in the Hivemapper network, both drivers and editors, earn HONEY tokens for their contributions, which include capturing 4K imagery and ensuring the data's quality and freshness. This innovative approach allows Hivemapper to provide detailed and up-to-date map data to a wide range of consumers, from insurance providers to logistics companies, through an affordable and easily implemented API. The project has already achieved significant milestones, mapping over 1.67 million road kilometers across multiple markets within ten months of its launch.
Hivemapper's use of the Solana blockchain underpins its operational efficiency, supporting a sustainable reward mechanism for its contributors while keeping transaction fees low. This decentralized mapping solution not only challenges the monopoly of traditional mapping giants by offering more current and detailed data but also democratizes the map-making process, allowing anyone with a dashcam to contribute and earn from their contributions. As Hivemapper continues to expand, its community-driven approach could redefine how we view and use maps in various industries.