AtlasNavi - Drive to Earn AI navigation

[pmbug]

Found this app this morning and I'm still investigating it:

https://www.atlasnavi.com/

They have an app for cell phones that works as a GPS navigation app, but it doesn't track your history and all data is encrypted and private. The app will use AI to connect road hazard info within the network so that hazards discovered by one driver are shared to other drivers (if I understood correctly).

Drivers using the app are paid in a NAVI crypto token that is a layer 2 built on Ethereum.

 

[pmbug]

Upon further reading, anyone can download and use the navigation app, but in order to earn crypto while driving, you first have to buy an NFT from them:

Atlas Navi NFTs | Atlas Navi - A.I. Navigation app with Vehicle NFTs

Officially licensed 3D vehicle NFTs are available in the Atlas Navi app. They allow drivers to earn rewards for every mile driven.

docs.atlasnavi.com

The NFTs are not cheap (starting at $300 and goes up from there) and they also have a limited use (I'm estimating ~20 full gas tank refills for my ~330 mi/tank vehicle) before the rewards start diminishing.

... Drive to Earn mechanism - Drivers earn $MILE even before TGE = token demand for $NAVI once listed. Right now drivers are awarded 1 $MILE token (which will not be listed) for every mile they drive with the app open. This has led to over 11.000.000 driven by our drivers in less than 3 months. To be able to convert these rewards into NAVI tokens (and then cash out), users have to buy a vehicle NFT. To do so, they first need to acquire NAVI tokens on the exchange first. By keeping the $MILE token unlisted (unlike many X-to-Earn business models), we control both the rewards (through the exchange rate of $MILE - $NAVI) and the amount of NFTs we make available for sale, thus controlling how many rewards can be cashed out at any time.

Understanding Project | Atlas Navi - A.I. Navigation app with Vehicle NFTs

docs.atlasnavi.com

Sounds like maybe you can use the app to navigate, acquire a $MILE balance and then buy an NFT whenever you want to convert the $MILE to $NAVI. At the current market price of ~$0.29 NAVI and exchange rate of 7 $MILE/$NAVI, you would need to drive about 3,500 miles using the app before you would break even on the cost of the cheapest NFT.

This doesn't sound like a true decentralized crypto project - there is a central authority in control of the tokenomics, but could be worth playing around with.

 

[WinkWink]