IM Motors, the high-end clever pure electrical car model backed by China’s largest automaker, SAIC, and e-commerce big Alibaba, declares it is going to formally launch its Drive-to-Earn Reward Scheme, with Mileage Mining mode beginning on Aug. 7, 2022, for IM Valley, a metaverse constructed for its automotive homeowners to earn digital “Stones” as they drive. It signifies the completion of IM Motors’ Customer Share Option Plan, or CSOP, an initiative to deliver the facility of information again to its homeowners with rewards and incentives in actual life.
According to the reward scheme, IM automotive homeowners can deplete to 6,800 Stones plus 10,000 Chinese yuan for an autonomous driving system that includes lidars, radars and OrinX chips for his or her automobiles.
Drive-to-earn within the metaverse
What IM Motors is constructing in its metaverse — aka IM Valley — tells a narrative: how driving might be revolutionary, fascinating and rewarding.
IM Valley, the digital place the place IM homeowners can discover new driving experiences, is powered by superior blockchain applied sciences.
Mileage Mining permits IM homeowners to drive to earn up to 210 million Stones or 70% of the whole provide of 300 million accessible for mining.
Once launched, Stones will drop in batches each 10 minutes on this mode. The whole provide is not going to enhance however halve each 4 years. Each Stone drop will probably be “shared” amongst collaborating IM homeowners. The concept behind that is that the extra they drive, the sooner they take part with extra contribution in mileage, and the extra probabilities they may have at profitable extra Stones.
Educational Mining was first launched on Aug. 21, 2021, on IM App, with 30% of Stones accessible for this academic blockchain game-like mode. IM homeowners earn Crystals, the “in-game token,” by a sequence of duties, corresponding to signing up, posting articles, group concept sharing, and participating in on-line or offline occasions.
IM Go! is a devoted phase in IM App the place IM homeowners can discover extra new enjoyable methods to mine Stones. New eventualities, corresponding to Moving Art, Best Highway and Citylife, will probably be rolled out quickly.
Self-developed chain for knowledge safety and privateness safety
IM Valley Chain is the place all Stones are generated, which is a self-developed blockchain by IM Motors to defend knowledge rights and worth for IM homeowners. The chain includes 9 nodes, with extra to be added sooner or later. Adopting a consensus mechanism, every node works independently from each other, defending knowledge completion, whereas all transactions are compliant.
The chain ensures all transactions of Stones are recorded on-chain with a singular hash fee for every transaction, whereas all nodes are printed for validation. The chain confirms every node with a ledger earlier than it packages a certain quantity of transactions right into a block, which will probably be related to the tip of the IM Valley Chain to affirm the completion of a transaction. Data safety, data privateness, immutability and unforgeability of transactions are all ensured based mostly on an elliptic curve algorithm and hashing algorithm by a public key cryptographic algorithm to defend all customers’ knowledge rights and equality.
Mileage Mining is powered by a sensible contract on the IM Valley Chain. For occasion, in every batch of Stone drops, the batch code of mileage mining is used as enter, whereas the mileage is because the sub-total. Based on random numbers (together with snapshots of key knowledge, hash charges of transactions, and so forth.) generated by the blockchain, outcomes will then present N sequence numbers of mileage that win Stones. Such knowledge will probably be coherently measured earlier than getting used as a weight issue for driving knowledge contribution.
Data acquisition and privateness are essential these days. IM Motors publishes IDPP, an information and privateness safety plan, to strictly defend its automotive homeowners’ knowledge safety, utilizing blockchain applied sciences. It additionally claims it is going to by no means use biometric applied sciences — facial recognition, fingerprint scans and voice recognition — for its automobiles.
Embrace the know-how and innovate for future
Technology brings innovation and additionally fosters a extremely engaged group.
Back in 2021, IM Motors labored with Totalab, collaborating artist Fei Yining to collectively launch its first NFT “IM Crossing: The New Totem,” a community-generated art work with IM automotive homeowners. The totem of IM Valley’s group options customers’ profile photos as a part of the art work. IM Motors additionally plans to collaborate with extra rising artists, designers and its group to launch new digital collectibles sooner or later.
In order to promote a inexperienced but rewarding driving expertise, IM Motors will increase its Drive-to-Earn Reward Scheme to permit IM homeowners to redeem numerous rewards with Stones, together with upgrades of {hardware}, premium providers, restricted editions, digital collectibles and Experience Day occasions, and extra.
As IM Motors builds a number one public platform for knowledge rights validation powered by blockchain for the Chinese auto trade, it is going to by no means cease exploring prospects in embracing new applied sciences to encourage its group for a greener future.
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