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Hivemapper is building the world's first crypto-enabled dashcam that lets you earn rewards for driving.
In this review, we are going to cover a wide range of topics, including what is Hivemapper, how mining HONEY works, and what everyone wants to know: How you can start earning money for driving. Keep reading and find out if this is the right opportunity for you.
Overview
What Is Hivemapper?
Hivemapper is a crowdsourced mapping service, building a "decentralized" version of Google Maps. Drivers install a special dashcam in their car and then drive around, collecting imagery that is used to build the map. The more drivers who contribute, the more accurate and updated the map becomes. Hivemapper makes money and pays drivers by selling this mapping data to businesses.
As a driver, you can purchase a dashcam, start mapping, and earn rewards as you drive around town. The dashcam allows you to mine HONEY tokens and earn money passively while driving your car. When you're done driving, you upload the footage via Hivemapper's contributor app. The more mapping you do, the more money you can earn.
Here is a good video break down:
Hivemapper vs. Google Maps
Hivemapper is similar to Google Street View, but it's constantly being updated by regular people instead of Google employees. This makes it a more accurate and reliable representation of the real world which can be valuable for many businesses.
The Problem With Google Maps: Google has their own Street View vehicles that go out and map the world. However, this strategy is expensive and difficult to scale. They can only have so many cars driving around collecting data. As a result, many locations are outdated or unmapped entirely.
The Hivemapper Advantage: Using the power of crowdsourcing, Hivemapper can have thousands of vehicles driving around at a fraction of the cost. Then they will have a lower-cost, up-to-date map that businesses can pay for. Additionally, drivers who build the map are paid a share of the profits.
Hivemapper's Business Model
For this idea to work, Hivemapper has to generate revenue so it can pay the drivers who create the maps. That's why it's key to overview the mapping industry and Hivemapper's business model.
Mapping is a $300 Billion Industry
According to Hivemapper, the global mapping industry is worth $300 billion per year. Billions of people rely on maps every day, and many companies pay for mapping data. For example, it's estimated that Uber paid Google $28 million in 2018 to use the Google Maps API in their app. Google consistently raises its prices as well.
Many other companies also rely on mapping APIs:
- Airbnb, Zillow, Lyft, UPS, Postmates, and Instacart to name just a few
- 4-5 million developers use Google Maps APIs in their apps
- OpenStreetMaps has millions of people uploading data for free
Google Maps is the biggest player and could become an $11 billion business. However, it's not the only mapping business. Other large companies in the industry include Apple Maps, MapBox, and OpenStreetMap.
How Will Hivemapper Make Money?
Hivemapper sells the mapping data to businesses looking for a cheaper and more up-to-date alternative to Google Maps. Potential customers include logistics companies, city planners, insurance companies, governments, and more.
This is nothing new, it's similar to how Google Maps makes money. A variety of businesses and industries can benefit from Hivemapper:
- Construction
- Real estate developers
- Insurance companies
- Logistics / Transportation
- City planners
- Utility companies
- Governments
- And more
What are some specific use-cases for Hivemapper?
- Trucking and delivery companies can save time with more efficient routes
- Architects or city planners can view locations before visiting it in person
- Insurance companies can provide faster quotes or analyze locations
- Hivemapper provides more use cases here
How Do Drivers Make Money?
The Hivemapper Dashcam is a device that allows you to mine HONEY and earn money passively while driving your car. The camera uploads video footage to build a decentralized version of Google Maps, and the more mapping you do, the more money you can earn.
To make money with the Hivemapper dashcam, you simply need to install it in your car and let it record videos. Once you get home, you can upload the video using the contributor app and you will be paid in HONEY tokens. Your earnings are based on many variables which I cover later.
How To Get Started
Types of Dashcams
Hivemapper has two dashcams available for preorder:
- HDC ($549 USD)
- HDC-S ($649 USD)
Both models will earn the same amount of rewards. The main differences are the price, size, and security features. The HDC will also start shipping earlier than the HDC-S. You can use code "NowFuture" to get 10% off your order.
The dashcams are designed for mining HONEY, but they can also be used as regular dashcams. Meaning, you can access the footage for insurance purposes. It also does not intrude on your privacy, according to Hivemapper. Dashcams only collect what the map needs and nothing else.
How To Get A Dashcam
Both cameras are currently available for preorder. The HDC will be shipping to 34 cities by the end of summer 2022. The global rollout is scheduled for the end of 2022.
First 34 Cities (end of summer 2022):
How To Setup Your Dashcam (do's and don'ts)
You can install up to two dashcams in your vehicle and they can be mounted forward-facing or side-facing. In their documentation, Hivemapper has instructions on how to mount your dashcam. Setting it up correctly is important because the quality of your footage impacts your earnings.
Here is how to get good footage:
- No obstructions in the video (such as the car's hood, dashboard, or a dirty windshield)
- If forward-facing: Camera is centered on the street
- If side-facing: Camera is pointed at building and sidewalks (not facing traffic)
How Much Can You Earn?
Currently, the dashcam is available for preorder, so we have no idea if this $549 investment will pay off. For an accurate idea of profitability, we need to wait for the dashcams to be released.
In the meantime, the whitepaper explains many variables that can affect your earnings.
How HONEY Rewards are Calculated
HONEY will be rewarded based on 3 categories: coverage, freshness, and quality. Read the whitepaper for more information, but here are some of the major variables:
- Route novelty: exploring less mapped areas
- Region multipliers: greater rewards based on market demand
- Freshness multipliers: refresh locations that are getting old
- Team rewards: Drivers split rewards paid by clients who want a specific area mapped
- Map consumption rewards: Get paid when customers use your data
- Annotation rewards: Contribute to map editing (such as adding street names, blurring faces, etc)
- Driver staking fees: Earn rewards for staking
- Clarity of footage: Was there glare on the windshield? Did you film at night?
- Contributor reputation score: The higher your score, the greater your rewards
- View all signals
Other factors that can influence your profitability include:
- Where you live (cities earn more than rural areas)
- Cities that change quickly earn more (fast growth, lots of construction, etc)
- How often you drive and what routes you take
- How many dashcams you own (max. 2 per vehicle)
- The price of gas
- Your vehicle's gas mileage
- Competition in your area
- Data/roaming charges (potentially)
- Which direction your camera is facing
- The HONEY token price
The HONEY Token
The HONEY token is built on top of Solana and is the center of the Hivemapper ecosystem. Only 40%, less than half of the tokens go to the drivers and map contributors. The tokenomics look like this:
- Fixed supply of 10 billion HONEY
- 40% to map contributors
- 20% to investors
- 20% to employees
- 15% to Hivemapper Inc
- 5% to the foundation
The HONEY token is not available for sale as of this writing. View more details like the distribution schedule here.
Hivemapper The Company
Hivemapper's vision is to change how maps are built and who owns them. They're building a decentralized map that shares the economic benefits with its drivers.
The team has experience building global maps at Yahoo Maps, Scale AI, and Mapbox. Hivemapper was originally a non-crypto company founded in 2015. The CEO, Ariel Seidman, took Hivemapper in a new direction after being inspired by the success of Helium, a network of wireless hotspots.
Team, Partners & Advisors
Hivemapper has an impressive list of partners and advisors. It includes the co-founders of Solana, the ninth-largest cryptocurrency as of this writing. They also have a former Apple Maps Executive and the former CEO's of Zillow, Tinder, and more.
Venture capital firms like Solana Ventures and Multicoin Capital also back them. Hivemapper raised $18 million so far.
Pros and Cons
Final Thoughts: Is The Dashcam Worth It?
Until we get our hands on the dashcams, Hivemapper is still up in the air. The investment is $549-$649 USD and the break-even point is unknown. If you believe in the project and team, you can take a risk and be one of the first to start mapping.
The team looks legit and the project is gaining momentum. Hivemapper could end up becoming a good way to earn supplemental income. Especially if you live in a city, drive a lot, or have access to a fleet of vehicles. You’ll also earn more if you’re the first to start mapping since there will be fewer drivers competing with you.
However, it's unlikely that driving will generate substantial income. According to the team, Hivemapper is not intended to be a full-time job, but rather passive income. Not a bad thing, but very important to keep in mind.
Hivemapper has potential. We'll have to see how this project develops. If you're looking to get a dashcam, get 10% off when you use code NowFuture at checkout.
More Resources
- Documentation
- Whitepaper
- Official Discord
- CEO interview (Dec 29, 2021)
- CEO interview (Oct 22, 2020)
- Helium Whitepaper
This video also provides a good break down:
FAQ
How Do You Buy HONEY Tokens?
The HONEY Token has not launched and is not available on any exchanges yet. Do not try to buy HONEY! They are probably scams or knock-offs!
Mining Honey vs. Mining Helium: What's the Difference?
Helium mining uses a small router-like device, called a hotspot to earn HNT. Hotspots are placed in strategic locations and connect to other hotspots in the area to create a wireless network for Internet of Things.
On the other hand, Honey Mining uses a dashcam for your car and records video as you drive around. The imagery you collect is used to build a decentralized Google Maps.
What is the Hivemapper Dashcam?
The Hivemapper Dashcam is a device that allows you to mine cryptocurrency and earn money passively while driving your car. The camera uploads video footage to build a decentralized version of Google Maps, and the more mapping you do, the more money you can earn.
