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Leading Australian geospatial mapping technology company Soar has announced their highly anticipated Token Generation Event (TGE) designed to fund the launch of the world’s first decentralised global platform for the distribution of drone content and maps.
The TGE will be facilitated by an international consortium of blockchain advisors including the Krypital Group and Fidem. The Soar TGE is expected to raise up to US$20 million through the sale of its SKYM token and has already secured several cornerstone investments from technology funds including crypto heavyweights JRR Crypto, Node Capital, LD Capital and Lateral Capital Ventures.
Soar’s stage 1 is the initiation of its global drone content marketplace platform, which company founder and CEO, Amir Farhand believes will be the go-to place for almost any content that drones produce at both consumer and commercial levels.
Amir Farhand said: “Both professional and hobbyist drone operators will be able to monetise unused content, the majority of which are sitting on old hard drives and forgotten. In the last month we have already onboarded almost 600 drone operators globally, and we are just scratching the surface of this opportunity.”
Soar’s platform is intended to provide an easy-to-use home for drone content, with a broad range of applications in industries such as agriculture, environmental, logistics, insurance and even news and media. In addition, the Soar platform will integrate with several global technology giants including a key partnership with Alibaba Cloud, a key provider of cloud hosting and computing power services.
Leveraging the power of the Alibaba Cloud, the Soar platform is expected to pave the way for Soar’s Stage 2 project: the world’s first fully decentralised global super-map protocol.
Amir Farhand said: “What we are setting out on doing with Soar is to build a compelling solution for not only drone technology but in fact the greater mapping community, with a primary focus on decentralisation and community engagement.”
“The blockchain further enhances this by encouraging both accountability and authenticity. Our end game is to build a dynamic super-map of the world at an unprecedented level of detail through the aggregation of everything from satellite, aerial through to crowdsourced drone content.”
With over a billion monthly views, Google Maps is one of the most significant sources of geographic data and has ultimately become the first universal map. However, as concerns continue to rise over the risks associated with any centralised private organisation controlling and owning such significant public data, the value and demand for the decentralised ownership of such powerful and vital content is set to continue. An industry snapshot released by PwC and Bloomberg, recently stated that the drone industry would be worth a massive $127B by 2025.