The generation with a penchant for rebranding everything known to man for the last hundred years has done it again. They’ve already graced us with such revolutionary ideas like “intermittent fasting” (formerly known as skipping breakfast), “lemon squeezing” (lemonade stands just got a fancy upgrade), and “drying” (apparently putting your clothes out in the sun to dry now requires a shiny new term).
Enter the “Economy of Things”
And now, they present to you – drumroll, please – the “Economy of Things.” It’s a simple concept, really. They’ve taken everything that exists in the real world and decided to write it down in a public notebook. But because calling it a “notebook” is so last century, they’ve renamed it a “ledger.”
Ledger: The New Age Notebook
This isn’t just any ledger, mind you. This is a ledger that uses blockchain technology and Web3 to create a decentralized physical infrastructure network (DePIN). The purpose? So that anyone, anywhere, can own a piece of the pie and share in the revenue the items generate.
Car Sharing 2.0: Tokenized Teslas
Take, for example, the car-sharing service Eloop and the Peaq Network. They’ve tokenized 100 Teslas, allowing users to own a fraction of the fleet and share in the revenue the cars generate from daily rideshare operations. Not bad, right?
You don’t even need to buy an entire Tesla to get in on the action. Just a piece of one, thanks to the wonderful world of tokenization. You can sit back, relax, and let Eloop do all the legal work regarding the cars. It’s car sharing 2.0, where the community who owns the cars also rents them out. It’s like owning a slice of a pie but without the messy crumbs to clean up.
But the best part is these tokens are not just digital receipts for your investment.
The icing on the cake is that you can do this again and again, as often as you want, provided the stocks (I mean, tokens) last. If you’re super keen, you can even own up to 4,150 tokens. If you want more, you’ll have to fill out a subscription form and return it to Eloop. Oh, and don’t worry about the value of your tokens being diluted as more cars get tokenized. The folks at Eloop assure that while this will change the ratio of shares, it will ensure higher profit-sharing through the network effects of car sharing.
It’s Just Like the Stock Market, But…
Now, if all of this is starting to sound suspiciously like a stock market to you, don’t worry. It’s definitely not a stock market. It’s an unregulated, peer-to-peer stock market where instead of shares, you guessed it!!! You Get Tokens!!!
NFTs are these digital tokens mapped on the blockchain, assigned unique identification codes and metadata that distinguish them from other tokens. Now, I hear you thinking, “That sounds a lot like shares in the stock market.” You’re not wrong. It’s a stock market, but it’s also not a stock market. It’s a marketplace where, instead of shares, you buy tokens inscribed in this massive public notebook and supposedly guarantee you a piece of the pie and its profits.
Each token costs 1.20, and as long as you own the token, you’re also entitled to share in the operating profit. They come with voting rights and the ability to participate in network governance, among other things. So, it’s a bit like a democracy but on the blockchain. If you think about it, it does sound a lot like owning shares and earning dividends. But shhh! Don’t tell them that; it might burst their innovation bubble.
But hey, don’t take my word for it. The ‘Economy of Things’ is here, and it’s as thrilling and perplexing as it sounds. It’s a fantastic world where anyone with a credit card and an internet connection can buy tokens and potentially earn from the operating profit of a car-sharing service.
The icing on the cake is that you can do this again and again, as often as you want, provided the stocks (I mean, tokens) last. If you’re super keen, you can even own up to 4,150 tokens.
If you want more, you’ll have to fill out a subscription form and return it to Eloop. Oh, and don’t worry about the value of your tokens being diluted as more cars get tokenized. The folks at Eloop assure that while this will change the ratio of shares, it will ensure higher profit-sharing through the network effects of car sharing.