Car-sharing revenue could be a first step to mainstream adoption of web3 in the enterprise

Web3 enterprise adoption is possible, but who’s going to create its value?

As the global crypto market capitalization sits around $1.2 trillion, some industry players are looking to build upon enterprise businesses to grow the pool and potentially bring in greater adoption. The key companies, tactics and business models to bring that in is yet to be determined, but that isn’t stopping some web3 startups from diving in together.

“I think a lot of disruptive real-world adoption is not going to come from enterprises, but startups that create new ideas,” Leonard Dorlöchter, co-founder of Peaq network, told TechCrunch+. “We expect a lot of adoption earlier in web3, but in the next five years, tokenization of assets of any kind will happen.”

ELOOP is a token-based car-sharing blockchain project that allows community members to share the revenue of its electric car fleet in Vienna. The cars are Teslas powered on the Polkadot blockchain via Peaq network, which builds applications for vehicles, robots and devices.

Dorlöchter thinks that machines like Teslas should be able to “provide goods and services autonomously.” His company built blockchain infrastructure to help create applications like ELOOP’s, to form decentralized car sharing and onboard Teslas onto its network.

ELOOP has over 90,000 registered users using its fleet of 200 Teslas, with about 100 with Peaq-linked IDs (managed by 487 token holders). The token holders have made a combined $138,000 in revenue from almost 6,700 trips, according to ELOOP’s dashboard.