DIMO is a Web3 IoT platform that enables drivers to transmit car data in return for tokens. We all know data is the most expensive commodity in the world, and most companies are taking your data to sell without giving you, the user, a cent of their profits. With DIMO, you are not only acquiring helpful data that can assist you when selling your vehicle to get the highest price, but you are also profiting from your vehicle data in the form of DIMO token.
Using information obtained by DIMO, one Michigan driver successfully sold his car for $7,000 more than he would have at his neighborhood dealer. According to DIMO, automotive data can offer insightful information that can be profitable, yet frequently drivers don’t reap the rewards. DIMO desires to alter this.
Co-founder Andy Chatham stated:
“It’s already a $100 million-plus industry—just people collecting and selling that data. But it’s happening outside most people’s understanding of their cars. So we’re really just helping people participate in that directly,”
DIMO has a huge market in mind. The overall sales for all new vehicle dealerships hit $1.18 trillion in 2021, according to the National Automobile Dealers Association, but DIMO estimates that the market for used automobiles in the US is over three times larger. Additionally, the U.S. auto insurance market is estimated to be worth $317 billion.
The DIMO Token, which is tradeable on a few DEXs right now (Quickswap & Uniswap), is currently trading at $0.05 at the time of this post. A month ago it was trading at $0.018, so that’s over doubling in price in 4 weeks, which is quite impressive during a crypto bear market.
DIMO Network has some huge partnerships on the blockchain side with companies like Polygon Network, Helium Network, Chainlink, Twilio. DIMO’s Ecosystem also has partners that will help you save on maintenance, financing, and other costly aspects of car ownership, access battery intelligence, smart insurance, vehicle health, car sharing, and more from within the DIMO Mobile app via Vehicle Genius, Tenet, and Lease End.
I purchased a DIMO miner to plug into my car back in October, and as it is still early, my ROI was just over 2 months, which is very good as far as mining devices go. It was very simple to set up, and the app is very slick and has a ton of useful car data, like marketplace value, which can come in very handy when selling your vehicle.
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