What’s up guys and welcome back to the channel and welcome back to another crazy day here in the world of crypto, so in today’s video we are going to be going through a very, very interesting coin called the XYO network. Now this is a project that is doing something absolutely incredible. What they’re actually setting out to do is awesome. It’s going to change the face of the way we transact here in the real world, and I personally think this is absolutely incredible. With full transparency here on the channel, I will bring you guys sponsored content from time to time, but I will only ever bring you projects that I genuinely think solve a problem, have real utility, and real promise going forward in the market.
So today’s video is a sponsored video by XYO and we are going to be breaking down everything that you need to know about this token, their partners, how you can actually earn some free coins right now and all of that sort of good stuff. If you don’t know me already, my name’s Conor, and I am not a financial advisor. I’m just a guy sitting in his room, so please never make any financial decisions based on my videos. Go out, do your own research unless I jump straight onto this video.
So first of all, if we do head over to coin market cap, we can see that the price is 2 cents right now sitting at a 264 million market cap, so there is definitely a lot of room for this project to grow. We’ve seen similar projects in similar spaces go to multi-billion dollar market caps, so there is definitely a lot of room for this project and they have all of the workings to be a very good long-term project.
If we do check out here on the week, we are relatively stable on the month. We are down from that high on the three months. We are considerably down like the rest of the market. So this is why I thought it was the perfect opportunity to bring it to you guys because as of now, the price has not pumped yet, which is a great thing to see.
If we head over to the markets here, we can see that this coin is listed on all of the major exchanges. Another great tip going forward: We got Coinbase, we got Crypto.com, we got Gate.io, KuCoin and a bunch of other exchanges. Let’s quickly go through exactly what this project is before – I blabber on for too long – and we’ll just look at this video that they have right here on their website.
Cryptocurrency smart contracts automatically execute contractual obligations, cutting out the middleman. These smart contracts have one downside: there’s no single authoritative and decentralized way to execute a contract based on locational data. For example, there’s no way to create a smart contract that allows for payment on delivery for e-commerce orders. The XYO network is meant to solve this problem.
It’s an ecosystem of devices which communicate with one another to create an unalterable history of interactions and locations stored on a blockchain. A user can independently verify that an item tracked using the XYO network was in a defined place at a specific point in time. Since XYO network devices talk to each other, every user augments the other. A delivery driver can help find your lost bike, or your parked car can help confirm your neighbor’s package arrival. Users are rewarded with XYO tokens whenever the data they provide is used to help another user track or locate an item.
Thanks to a unique proof of origin algorithm, the provided data is always valid and up-to-date on the XYO network bringing the blockchain to the real world.
So as you can see, this is actually definitely needed in the real world. These are the kinds of projects that I want to see with real utility and a problem they’re trying to solve that genuinely needs solving. This is bringing crypto and the power of blockchain into the real world, helping with things that we use every day. You know, right now we basically order everything from Amazon and this is helping with exactly that, verifiable on the blockchain. I’m sure you guys are now as excited as I am because this could be used literally every day in almost everyone’s lives. So that is exactly the kind of project that we want.
If we just head over to LinkedIn, as you know, on this channel, I love to see a fully docs team. This is very clear the big difference between, you know, your everyday coins that are launching each and every day to something that is real, something that is scalable, and something that is probably going to be around for a long time. We have a huge team behind it. We have a CEO talking to someone on crypto.com. Here you can look into the people behind the project, research them, decide whether or not you like them, decide whether or not you think they can pull off everything they say they’re going to do.
Here’s a little snippet from the co-founder actually explaining exactly what XYO network is.
Marina Taylor: So, what is XYO?
Markus Levin: Yeah, XYO is a scalable and incentivized location-based oracle and network which connects the physical and digital realities.
If we do want to look into a little bit more with the people behind the project, head over to their LinkedIn, click on people here, and we can see a massive team of 40 employees. Go through these guys, see where they’ve been, see where they’ve worked before, and this is a great place to start your research into the project.
If we do move on, we can check out their partners quickly, and they have some huge partners. Chainlink is one of their actual partners here. The XYO network is using Chainlink VRF to fairly select random winners of coin location-based giveaways.
So remember what I said earlier? You can earn yourself some crypto right now for free if you head over here to the coin app. This is an app that currently uses the XYO network. If you didn’t know already, Google and a bunch of other companies are already tracking you. They’re taking your data and you get absolutely nothing back for it. Well, with this app, you can earn yourself crypto by just giving up that data now. If you do sign up, you can get a thousand free coins for joining today. You can get it on the Apple store or the Google Play store now.
This app was launched in early 2019 and the coin mobile app enables over one million users to earn digital assets for validating their geolocation data while traveling, commuting, jogging, or moving about the real world, interacting with each other and enjoying the in-app challenges. There is already a product out there that is working right now.
Another interesting piece of information is that the XYO network has more than four million nodes in its network, making it one of the largest blockchain networks in the world. As the economy grows, the price of XYO could follow this. If we do check out the data from 2021, we can see right here that the project grew over 560x. Of course, we have come back down, and that is why I’m making this video right now.
This project is set out to do exactly that. There was an absolutely massive pump in this project, like we saw across the board with crypto. Right now, the crypto market seems to have found a bottom, so it’s time to find some new projects to potentially run on this next bull run.
All of that said, I want to show you guys an interview with the team on Nasdaq. This was around two years ago. The co-founder explains, in simple terms, exactly what the project is setting out to do.
‘In the last year and a half, we’ve created this people-powered movement to create your own location network instead of just relying upon the current location network out there, which is GPS 24 satellites orbiting the earth, all controlled by the US government, so we’re essentially decentralizing the location infrastructure,’ Scott Scheper said.
The reporter asked ‘If I want to use XYO to pay somebody but I don’t have an address, I can use location data and send it that way?. ‘
Scheper answered ‘Yeah, like a location-reliant transaction. So a location-relying transaction means that as soon as this Amazon box, let’s say, with one of our bluetooth XY beacons in it, arrives at this address at this time, I want you to send payment right from this wallet address to the other person’s wallet address. That happens automatically once that device arrives in the world at that specific location without anyone with a location-reliant transaction.’
So, as you can see, this is absolutely huge. It can be used in so many different places. The project itself is one of the largest blockchains out there, with over four million users. The team behind it has a proven track record. The coin itself is already listed on so many major exchanges, and there is still a lot of room for this project to run, so that’s why I’ve brought you this project.