Blockchain-based augmented reality platform with geolocation support
According to LinkedIn, Geon Network is developing a blockchain platform for enhanced augmented reality power with geolocation technology. The company aims to provide a new way to distribute value worldwide. Geon Network’s core functionalities with its easy integration in third-party solutions will pave the way for a new standard for geolocation-enabled, augmented reality applications that will allow geolocation and augmented reality technologies to facilitate value transfers unaffected by the limitations of financial institutions. According to Crunchbase, Geon Network is developing a geolocation blockchain-based mobile app to facilitate value distribution over the world.
Geon Network reported that the company has raised a total of $700K in 4 funding rounds. The latest funding round was finished on January 31, 2020, from a seed investment rounds round. Some of their investors are CV VC, Data Ventures, Zen, G2A Pay, and KABN Kash. The company is currently lead by Robert Radek.
According to its website, users can use Geon’s app to do various things, with earning rewards by participating in games or activities the most common one. Users can, for example, visit some locations and collect Geon coins that can be exchanged for rewards at the Geon store. The company claims that more than a million location is ready to be explored by its users. Some rewards that users can get from exchanging their Geon coins include the likes of Steam gift cards, PayPal cash transfers, and more. Businesses on the other hand can use the platform to attract customers. Businesses can easily launch their own marketing campaigns and prepare the Geon rewards without thinking too much about the deployment. It will reduce cost, and help with marketing and user acquisitions.