Generally speaking, most projects are raising money in an ICO to build a web-based service, which due to the “nature of the beast” could deliver high margins. That, however, is not the case with AirPod, a startup building a physical product that too could come with hefty profits.
What’s an AirPod (hint: it has little to do with Apple’s wireless earbuds), how it works and what’s the plan — these are the questions we’re going to address in today’s article. Let’s dive in, shall we?
Luxury sleep pods for airports and train stations
European startup AirPod is designing luxury sleep & work pods for airports and train stations, as well as other public places such as shopping centers to provide people with a private resting space.
Designed by architect Robert Klun, each AirPod will come equipped with air conditioning, power outlets, a working desk, a high-quality seat that can be transformed into bed, an alarm clock, flight status information (for airports), noise reduction technology and privacy glass. Also, users get high-speed Wi-Fi connectivity, along with access to Netflix and Amazon Fire TV if they want to spend their spare time watching some TV show.
Renting AirPods will reportedly cost $18 per hour, with the service accepting three types of payments: credit card, debit card, and tokens. The last payment method is incentivized with a 10 percent discount to spur adoption.
The company says it uses the blockchain technology with smart contracts to simplify its business model processes; automate auditing, agreements and contract enforcement. Also, their own token will make for hassle-free cross border payments.
These fancy pods are said to be in production as we speak, and are expected to be released in the fall of 2018 in 284 airports across the globe. The first ones are slated for Europe.
Funding the physical project with an ICO
As we have noted above, this is a different kind of a blockchain project as it includes a physical product. Nonetheless, it too is looking to raise money in an Initial Coin Offering (ICO). It is currently in the presale phase while the date of the general public offering is still not announced.
The company claims there is a “high market potential” for AirPods, with airport operators trying to improve the passenger experience by providing value-added services, with offerings that could include sleeping pods.
Furthermore, AirPod believes that its tokens have the potential to increase in value since this is a unique product with high growth potential.
We kinda like what they’re doing and are glad to see ICOs “going physical.” Can’t wait to try an AirPods myself. 😉