AP NEWS
Press release content from Business Wire. The AP news staff was not involved in its creation.
PRESS RELEASE: Paid content from Business Wire
Press release content from Business Wire. The AP news staff was not involved in its creation.

XYO Launches Device That Pays People to Explore the World -- Best Part Is Consumers Can Get the Devices for Free

May 23, 2019

SAN DIEGO--(BUSINESS WIRE)--May 23, 2019--

XYO , the geospatial cryptonetwork, today announced a new product giveaway that in essence allows users to get paid to “explore the world” while using an XYO hardware device called a “sentinel.” For a limited time, XYO is offering the sentinels for free--consumers simply cover the initial shipping cost. The goal of the giveaway is to add new users to the Internet of Things (IoT) network that rewards users when verified location data is used. The giveaway is expected to add new endpoints to the global XYO network by getting sentinels in the hands of many new users.

What is a Sentinel?

The success of the XYO network, and the consensus-based model for location verification, depends directly on a distributed network of small, colorful, lightweight items which we call findables. These findables, the newest of which is the “Sentinel-X,” can be a device for locating keys, for finding a mobile phone, or for tracking down other essentials that are misplaced.

How Else Can a Sentinel Be Used?

For our blockchain and crypto-oriented community, these same devices are critical in building out the XYO network, and in increasing the number of “bound witness interactions” that take place. Sentinels communicate with each other and with the assistance of the XYO Network app, they help establish proof of location. When data from any of these bound witness interactions is then used in any kind of query, everyone whose devices played a role in the answer will be paid in XYO. So sentinels can potentially be sources of passive income.

Geomining with the COIN app

Another fun, useful and potentially lucrative use of sentinels including the new Sentinel-X is the popular smartphone app COIN. Using the free app, users earn XYO--a market-traded cryptocurrency--for sharing their location data in a Pokémon GO-style game. The game bridges the user’s real-world location or movement with a digital geospatial “quad tile” overlay. At any location on the globe, users can “Geomine” or share that location data and get compensated in XYO. When users Geomine, no personally identifiable data is shared, and if there is a sentinel nearby--i.e. in a backpack, on a keychain or anywhere else within the standard Bluetooth range of up to 100 feet--then the amount of XYO earned multiplies. Once a minimum is reached, a user’s earnings can then be withdrawn to a cryptocurrency wallet. To date more than 67 million XYO have been earned and withdrawn from COIN. With today’s value of XYO on the market, this amounts to more than $114,000 rewarded to COIN users since the app was debuted in February.

“We’re in a major expansion push, and are excited to reward new users in our Community with a free Sentinel-X,” commented Scott Scheper, Co-Founder at XYO. “Here at XYO, we’ve proven ourselves as an up-and-coming leader in the industry, and our momentum is strong as we build out this global geospatial data network and ecosystem of IoT devices. We welcome everyone to take part and to enjoy the shared benefits of the network.”

Learn more about XYO and get your free Sentinel-X by visiting https://coin.xyo.network/free-sentinel.

About XYO

Since 2012, with a Dataist focus, XYO has developed trusted IoT technology that connects the digital world with the physical one. In 2018, the company unveiled the XYO Network, the world’s first geospatial blockchain network backed by cryptography. With more than 1 million location-verifying beacons around the planet, XYO technology rivals the GPS network, and radically transforms the world’s leading industries. Partners include mapping giant Esri, FedEx Research Institute, Re/Max Mexico and Spaceflight Industries. XYO Advisors come from leading organizations including National Geographic and the World Economic Forum. For more information, visit us at www.xy.company and https://xyo.network.

Facebook: www.facebook.com/OfficialXYO
Instagram: www.instagram.com/officialxyo
Twitter: www.twitter.com/officialxyo

View source version on businesswire.com:https://www.businesswire.com/news/home/20190523005213/en/

CONTACT: XYO Media Contact

Larry Smalheiser

Head of Communications

XYO

larry@xyo.network

KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA

INDUSTRY KEYWORD: TECHNOLOGY DATA MANAGEMENT NETWORKS SOFTWARE SATELLITE

SOURCE: XYO

Copyright Business Wire 2019.

PUB: 05/23/2019 09:00 AM/DISC: 05/23/2019 09:01 AM

http://www.businesswire.com/news/home/20190523005213/en

All contents © copyright 2019 The Associated Press.All rights reserved.