Geon Network Ltd. (“GEON”, “Geon Network”, or “the company”), a leader in Augmented Reality(AR)-enhanced location-based services, has been awarded an initial grant of $25,000 Dai by the POA Network Games Fund, with the possibility of a second grant to follow. This grant will be used to grow and accelerate traction of the Geon App - a decentralized application hosted on the POA Core blockchain.
The app leverages blockchain technology to manage “Geons.” Geons are AR objects that can be placed anywhere in the world by individuals, businesses, non-profit organizations and others. They store value in the form of an in-app currency and also encapsulate logic that controls how the currency is distributed to users as rewards.
Geon Network created the Geon app which enables users to get paid for visiting real-world locations. In the app, users search for nearby Geons. When they find one, they can interact with it to earn “Geon Coins” through a process called “geomining.”
The longer the user remains near a Geon, the more coins they receive. The geomined coins may then be exchanged for various types of rewards. This model lets organizations and businesses attract and maintain the attention of visitors or customers to a specific physical location, like a retail business, event, or anywhere they want people to be!