IM Motors funded by Alibaba introduces drive-to-earn reward program in IM Valey Metaverse
IM Motors, the smart electric vehicle brand backed by China’s largest automaker SAIC and e-commerce giant Alibaba, announced that it will officially launch its Drive-to-Earn reward program for IM Valley, a metaverse created for car owners.
IM Valley is the virtual place where IM owners can explore new driving experiences, powered by advanced blockchain technologies. The Drive-to-Earn reward program, with the Mileage Mining mode, will launch on August 7, 2022. Car owners will earn digital “Stones” within its framework while driving. According to the new reward scheme, IM car owners can use “Stones” along Chinese yuan to purchase an autonomous driving system with lidars, radar and OrinX chips for their vehicles.
Once released, the Stones will drop in batches every 10 minutes and be shared among participants. The total supply (300 million) will not increase but will be halved every four years. The idea behind this innovative experience is that driving can be rewarding. Namely, the more you drive, the sooner you will participate with more mileage and the more Stones you might earn.
IM app has already had a similar rewards program with Educational Mining game-like mode. There IM owners earn Crystals, the “game token”, through a series of tasks, such as registering, posting articles, sharing ideas in the community, and participating in online or offline events.