Tesla Eloop

ELOOP, the pioneering mobility and blockchain startup from Austria, is poised to form a groundbreaking partnership with peaq, the Web3 network powering the Economy of Things (EoT). With its zero-emission focus, ELOOP is redefining car sharing and achieving remarkable milestones through blockchain technology. By becoming the world's first company to tokenize shared vehicles, ELOOP enables individuals and businesses to invest directly in these assets and reap rewards based on their performance.

Moreover, ELOOP's influence extends beyond its operations, as it empowers other companies with cutting-edge tokenization software, facilitating seamless integration with Web3 networks. This opens doors for revolutionary collaborations, connecting diverse industries like mobility and energy, and unlocking new possibilities for economic transformation.

On the other hand, peaq, as a layer-1 blockchain, empowers entrepreneurs and developers to build decentralized applications and DePINs for vehicles, robots, and devices. Within its ecosystem, users have the authority to govern and earn from connected machines providing goods and services. Collaborating with leading consortia like Gaia-X, peaq is actively co-creating the standards that will shape the future of mobility and other connected industries. Together, ELOOP and peaq are working hand in hand to democratize abundance in the Age of Automation, laying the foundation for an extraordinary alliance that will drive the transformation of various industries.

There are literal Teslas — T-E-S-L-A-S! — on peaq, providing real-world mobility. This project proves that the decentralized physical infrastructure network (DePIN) model works even for costlier hardware.

ELOOP has integrated self-sovereign peaq IDs for 100 Teslas, connecting them to the peaq network. With the support of Multi-Chain Machine IDs, powered by Fetch.ai's AI agents, these Teslas will seamlessly operate within multiple Web3 ecosystems from the outset.

peaq's blockchain serves as the backend layer, encompassing identity management, data storage, and transactions for this Decentralized Personal Identification Number (DePIN) project. This integration enables global users to invest in tokenized Teslas and receive a share of the generated revenues. While currently focused on car-sharing, these vehicles have the potential to expand into ride-sharing (e.g., Uber) or autonomous delivery services in the future.

The integration takes ELOOP's asset tokenization model to new heights, leveraging peaq to decentralize the underlying tech stack. This advancement positions the car-sharing service at the forefront of Web3 innovations. Looking ahead, the integration will pave the way for Teslas to operate autonomously, functioning as AI-powered robo-taxis, couriers, and more.

The Tesla IDs have already been activated on peaq's testnet during the initial integration, with transaction data accessible via a dedicated dashboard. As krest, peaq's sister network on Kusama, becomes operational, the IDs will transition there. This integration marks a significant step towards a more decentralized and innovative future for the car-sharing industry.