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Geon Network partner with XYO

Geon Network partners with XYO

Partners to improve accuracy and validation to bridge between the real world and augmented reality

XYO, the geospatial cryptonetwork, announced a new partnership with Geon Network, a leader in Augmented Reality (AR)-enhanced location-based services. The partnership will generate and leverage rich location-based data to improve “Geons,” AR objects that can be placed anywhere in the world by consumers, businesses, non-profit organizations and others.

The collaboration will leverage XYO’s ability to collect and make geospatial data available, while improving functionality and user verification at Geon Network’s more than 1.5 million existing AR objects around the globe.

Augmented Reality application

Geon Network created the Geon app to enable users to get paid for visiting real-world locations. In the app, users search for nearby Geons, and if there is a Geon nearby, the user can interact with it to earn “Geon Coins” through a process called “Geomining.” The longer the user remains near a Geon, the more coins received. The “geomined” coins may then be exchanged for various types of rewards, in a model that lets organizations and businesses attract and maintain the attention of potential visitors or customers at a specific physical location, such as a store. Accurate proof of location data is essential to the Geons, and the partnership will further improve the accuracy and value of that data.

Robert Radek, CEO of Geon Network stated, “We’re excited to join forces with the XYO team, with whom we share a similar data-centric vision of the future. Our groundbreaking app is a unique combination of AR, physical location and cryptocurrency, on a blockchain-powered platform. Working closely with XYO and this set of rich geospatial data opens the door to more value-added possibilities in charity, retail, gaming and other industries, with clear benefits to consumers and businesses.”

Arie Trouw, CEO and co-founder of XYO stated, “This partnership with GEON is essentially tailor-made for XYO. The technology plays to our strength in making geospatial data available–beginning with proof of location–and that’s critical to the augmented reality work Geon is doing globally. We expect to help improve the experience for users interacting with the Geons -’Geomining’ – to earn real world rewards. We look forward to seeing what we can do with our new partner Geon Network, and heartily welcome them to the XYO family!”