News
What is happening?
MapMetrics, a drive-to-earn DePIN and Microsoft’s mapping data partner, has announced its migration from Solana to the peaq layer-1 backbone.
Why is it important?
As one of the leaders in the mobility DePIN segment, MapMetrics will bring more than 55,000 devices to peaq, as well as an abundance of on-chain activity.
What does it mean for the community?
Originally building on Solana, MapMetrics is another exciting DePIN migrating to peaq from another ecosystem, paving the way for more transitions in the future — and enabling the peaq community to join its push for mapping the world with Web3 tech.
If you’re one of the billion people using Google Maps or something similar, like Waze, you probably know that such apps use your location data to profit. And not just that — your data comes in handy for the app itself, too. With enough users sharing their location with you, you can update them on traffic jams, discover new paths and routes, and do many other things that make your app tick. One thing you wouldn’t be doing though, in the Web2 world, is rewarding them for the help. Why bother? Your CEO needs another golden yacht, the last one only has room for 2 tennis courts.
MapMetrics, a leading Web3 drive-to-earn navigation app, is turning this tide by enabling anyone to earn crypto rewards by mapping the world. Install the dApp and drive around with it on — it’s as easy as that. Drivers can boost their earnings by purchasing a special device that makes the data sharing process more secure and reliable.
Released only on Android so far, MapMetrics already has more than 55,000 installations and users in 177 countries. It has also partnered with Microsoft to improve its Bing Maps service with the data collected by MapMetrics users, expanding the mapped territory with new roads and other objects.
Now, those of you who’ve been around for a while will probably remember that MapMetrics, originally building on Solana, earlier revealed its plan to expand to peaq. Fast-forward to today, and this plan grows to something bigger. MapMetrics won’t just build part of its functionality on peaq, it is fully migrating to the peaq layer-1 blockchain.
There are always push and pull factors at play in a situation like. Here we’ll be diving into the pull factors, i.e. what the MapMetrics team finds most attractive about peaq.
MapMetrics will explore and leverage synergies with other DePINs building on peaq. This is what we refer to as ‘Syntactic Composability’, or in simpler terms, DePINs on peaq can ‘plug and play’ with one another like puzzle pieces and offer services that they otherwise couldn’t alone. These are DePIN-focused layer-1 network effects. At the time of writing, peaq has over 25 DePINs building in its ecosystem – ahead of launch.
The migration will enable MapMetrics to benefit from Machine Composability — the ability for machines to seamlessly interact with other machines in the peaqosystem because they follow the same standard, in this case peaq ID. This enables DePINs to gain immediate access to fleets of devices already connected with peaq, and potentially users, too.
MapMetrics will gain access to peaq’s growing network of DePIN-relevant enterprises to further develop the demand side of its DePIN. Generating a strong user base and community around a DePIN is key to building the supply side of the network. In MapMatrics’s case the supply side is mapping data. But to come full circle that data needs to be sold. That’s the demand side, and for most DePINs the demand side is enterprises. peaq’s enterprise ecosystem is made up of companies that may represent the demand side for DePINs, and currently includes the likes of Bosch, Airbus, and Continental. This will scale in the following months.
MapMetrics will tap peaq’s Modular DePIN Functions, such as peaq ID and peaq verify. These functions allow builders to build key parts of their DePINs with speed and ease. More DePIN functions are being developed, and peaq’s existing functions will be upgraded.
peaq’s economics are focused on supporting the core flywheel powering any DePIN’s scalability, which enables DePINs to build sustainable business models on peaq.
As part of the multi-stage migration, MapMetrics will deploy the smart contracts behind its dApp on peaq, moving its core business logic on the layer-1 for DePIN. It will also mint its token natively on peaq and provide a bridging option for the existing holders. It will update its documentation and interfaces and provide a seamless onboarding experience both for drivers who are already using the app and for new members.
“As one of the original players in the DePIN space, we need a network with stable transactions, machine data verification, and a synergistic DePIN-focused ecosystem. peaq provides us with all that and more, also featuring its Modular DePIN Functions, which help us build faster, and a DePIN-friendly economic model. We are thrilled to be moving ahead with the migration and are certain that it will bring MapMetrics to a whole new level.”
— Brent van der Heiden, co-founder at MapMetrics
“Everything we do at peaq is 100% focused on making the peaq network and ecosystem the best possible home for DePINs. So the fact that MapMetrics is ready to fully migrate to peaq is a strong sign that we’re headed in the right direction, even more so given that the peaq network has yet to launch. We’ll be rewarding MapMetrics’ trust and belief to the best of our ability. To make a move like this, it’s clear that the team has the long-term in mind, and those are the kind of teams we enjoy working with most. They’ve got an exciting vision and roadmap, and we’re looking forward to supporting them every way we can.”
— Max Thake, co-founder of peaq
