Have you read Mike Zajko’s Medium post on token incentivized physical infrastructure networks? That’s a mouthful which he refers to as the TIPIN sector of web3 and cryptocurrency. You can read more about the interaction between cryptocurrency and the “real world” here.
Let’s take a look at how MapMetrics and our web3 navigation app fits into the TIPIN sector and how we connect the real world with the crypto world.
TIPIN - what is it?
In the world of web3 and cryptocurrency, TIPIN represents one sector of the broader ecosystem. TIPIN can be broken down into three elements:
- Token Incentivization
- The Physical Infrastructure
- The Decentralized Network
How does the MapMetrics web3 navigation app check all the boxes when it comes to the basics of TIPIN?
Token Incentivization is the main driver behind these projects. Contributors to the MapMetrics network earn token rewards for their data. In other words, the incentive to contribute data to the network is the $MMAPS token. The MapMetrics community uses $MMAPS to provide market liquidity and/or mint NFTs. Users stake their NFTs for additional rewards right within the platform. In the coming weeks we’ll introduce additional use cases for the MapMetrics token.
The SPT, the key to our community, is a device you take along with you when you drive. The SPT seamlessly connects to the MapMetrics app with one click once the app is running. Without the SPT, there is no network to speak of. This Physical Infrastructure collects geolocation data while you navigate your city or town.
With just the mobile navigation app, users can contribute in a small way to the network and earn rewards. This level of contribution gives the community an introduction to the project with no out-of-pocket investment. This data we gather compliments the broader effort put forth by our core contributors’ use of the SPT.
The third element of the TIPIN sector is the Network that connects the MapMetrics community with businesses small and large. Our network serves the broader web3 community with advertising opportunities, exposure for new projects, and a built-in user base of well-informed crypto native customers.
Our decentralized network of users spans the globe from the United States to Australia. The data we collect helps the local business owner to target his preferred customers.
Another business uses this data to narrow down its search for a market to launch its product. A new NFT project can launch on the MapMetrics platform. Our community is familiar with web3 and cryptocurrency and active in the space.
Curating the data
What is MapMetrics doing with this data we collect and how does it benefit the community?
Data curation is the process of creating, organizing, and maintaining certain information. Consumers want access to your data and it is often sold to businesses for a profit. Before web3, your data was not in fact your data at all. Facebook owns your friends and Google owns your search history. Amazon owns your shopping cart and your Christmas list.
TIPIN changes the narrative and MapMetrics puts in place a system to ensure data transparency. By deploying the physical infrastructure (The SPT) MapMetrics is able to visualize the geolocation data our community collects. We put a value on your data and when a business purchases this geolocation data, we share the revenue with the community.
The tip of the iceberg for web3
MapMetrics is leading the way when it comes to onboarding into the world of cryptocurrency and web3.
“The tip of the iceberg” is an expression you’re familiar with and hear almost daily. You see or understand a small part of something but know there is a much larger part that is not seen or known about. This is how it is with web3 and cryptocurrency. Most people have heard of bitcoin but know little to nothing about smart contracts.
The most difficult part of many projects is the onboarding. How do you introduce the idea of crypto, digital assets, and decentralization?
MapMetrics is able to onboard new users with greater ease than others in the digital space. This Real World connection offers a soft entry into the space with a familiar activity. Our users are familiar with navigation apps but may not have a full understanding of web3. Adding the physical infrastructure (the SPT) that collects data is the next step. We’re able to introduce our community to a crypto wallet and token rewards. Each small step leads to a more complete understanding of this growing sector.
We’re proving the future of web3
While the discussion around TIPIN and decentralized infrastructure networks continues and the VCs debate the best identifier, we remain focused on building a future for web3. We’re committed to keeping the project decentralized and growing our global network. Some refer to the proof of physical work protocol as the catalyst for the recent growth of web3 and we can’t agree more. We’re building a project with utility and function. We’re proof that the future of web3 starts at the intersection of the real world and the crypto world as Mike Zajko described back in July of 2022.