holoride selects Copper to secure its RIDE token

Copper today announced it has entered a custody partnership with holoride, the Munich-based technology startup revolutionizing in-vehicle entertainment.

Spun out from Audi in 2018 - which holds a minority stake in the startup – holoride builds a first-of-its-kind immersive media platform for moving vehicles. The unique approach of synchronizing the vehicle’s motion with content in real-time allows for a new level of immersion in games, educational content, and applications for wellbeing or productivity.

As custodian, Copper will be responsible for securely holding holoride’s utility token, RIDE, on behalf of the company. RIDE is the world’s first mobility experience token and thus tailored for brand-agnostic, customizable transportation use cases.

Built on the highly scalable public blockchain Elrond, RIDE was designed to fuel holoride's growth by providing enhanced user engagement and a variety of benefits to those using the platform. The token debuted on Elrond's strategic launch platform, the Maiar Launchpad, in November 2021 and has since been listed on three more exchanges, gate.io, MEXC and BitMart.

Copper’s custody, which uses Multi-Party Computation (MPC) technology, creates three separate key shards rather than one private key to largely eliminate the risk of exposure when signing transactions.

Through the collaboration, COPPER and holoride will create the opportunity for institutional players, such as VC funds, automotive brands or media brands to safeguard and manage their RIDE assets in a customer-friendly, secure, and compliant way, without compromising on control. Being able to store digital assets by the highest security and compliance standards marks an important milestone in motivating leading automotive and media brands to adopt RIDE for their own crypto initiatives.

Marcos Benitez, Business Development Director at Copper, commented: “holoride is leading the way in bringing digital innovation to the automotive industry and we are firm believers in the firm’s ability to transform the passenger economy through the power of VR, blockchain and crypto technology. In our view, the RIDE token is creating a powerful moat for the holoride ecosystem, and Copper is enormously proud to be supporting it.”

Nils Wollny, CEO & co-founder holoride, commented: “As digital assets are growing in importance for our prime partners from the mobility and media space and by this helping to push mass adoption, it is crucial to collaborate with experts that understand the complexity and regulatory framework for managing these assets in a corporate environment. We’re excited about our partnership with Copper and their state of the art approach as digital asset custodian and the #1 platform for institutional asset management. We feel encouraged in our endeavor to change in-car experiences with such a strong partner and expert in the digital assets space.”