This summary of the video was created by an AI. It might contain some inaccuracies.
00:00:00 – 00:14:01
The video presents an in-depth analysis of Hive Mapper and its associated cryptocurrency, Honey, particularly focusing on its potential price target during the 2024-2025 bull market. Hive Mapper is a decentralized global mapping network that incentivizes contributions using dash cams to generate 4k street-level imagery, rewarding participants with Honey tokens in a drive-to-earn model. The video explores the network's concept, comparing it to other decentralized ventures like Helium and XYO, and discusses the perks and drawbacks of such a model.
The speaker provides a detailed outlook on the earning mechanisms and token distribution: 40% for early contributors, 20% each for investors and employees, 15% for research and development, and 5% for the Hive Mapper Foundation, with tokens being vested over time. Important comparisons are drawn to Helium's initial hype and subsequent challenges, warning about the possible volatility in rewards, especially through bear markets.
While the video covers the various facets of Hive Mapper, including token unlock schedules and the implications for the market cap, the overall sentiment remains cautious. The speaker advises viewers to be wary of investment, acknowledging the unproven consumer demand for the data and highlighting skepticism based on prior experiences with similar projects.
00:00:00
In this segment of the video, the host discusses Hive Mapper and its cryptocurrency token, Honey, aiming to analyze its potential price target for the 2024-2025 Bull Run. The host expresses mixed feelings about the project, highlighting both interests and concerns which will be elaborated in the video. The Hive Mapper platform, launched in November 2022, is a decentralized global mapping network that rewards contributors with Honey tokens for collecting high-volume 4k street-level imagery using dash cams in a drive-to-earn model. The video details the function and cost of these dash cams while comparing Hive Mapper to Google Street View, questioning the necessity and potential advantages of a decentralized competitor. The host advises viewers to make their own financial decisions and to subscribe for more cryptocurrency updates.
00:03:00
In this segment of the video, the speaker evaluates the concept of Hive Mapper and its potential parallels to other decentralized projects like Helium and XYO. They speculate whether Hive Mapper could replicate the excitement seen with Helium Miners, noting both the positives and potential scammy aspects of Helium. The speaker also draws a comparison to XYO and its geolocation mining as a possible indicator for Hive Mapper’s future. They discuss the earning mechanisms for the Honey token, such as contributing through dash cams and AI trainer games. However, there’s skepticism about the idealized nature of the system, especially regarding who the consumers of this data would be.
00:06:00
In this segment of the video, the speaker discusses the future prospects and challenges of the cryptocurrency “Honey” associated with the Hive Mapper Network. They explain that in an ideal scenario where consumers use and pay with Honey for map services, the tokens burned in transactions are re-mined and redistributed to contributors, potentially making Honey a valuable investment. However, to kickstart this system, the network plans to heavily subsidize early contributors’ rewards similarly to Helium’s approach. The speaker anticipates that during the next bear market, the rewards will drastically decrease due to low usage of map services.
They detail the token distribution: 40% (4 billion tokens) for early contributors, 20% for investors, 20% for employees, 15% for R&D, and 5% for the Hive Mapper Foundation. The investors’ tokens are on a vesting schedule over two years, with restrictions easing gradually starting from the 13th month post-launch. The Hive Mapper Network has received investment from notable venture capital firms, and its token distribution began in November 2022.
00:09:00
In this part of the video, the speaker discusses the schedule and impact of token unlocks for a particular project. By the end of December 2023, they began seeing unlocks, with the entire unlock process concluding by November 2024. Specifically, employees have a 24-month vesting schedule starting in November 2023, resulting in half of their token supply being released by November 2024, equating to approximately 1.33 billion tokens by early 2025. The current circulating supply is 834 million tokens, which is 8.34% of the total. This is expected to increase to 40% by the end of the year due to these vesting releases.
The speaker also shares a price prediction, suggesting the token could achieve a market cap similar to Helium in 2021, despite potential dilution. By November 2024, investor supply will be fully vested at 2 billion tokens and employee supply 2/3 vested at 1.33 billion tokens by early 2025. The speaker then compares the project to Helium, noting how initial large rewards spurred a gold rush among contributors, which later diminished significantly during the bear market.
00:12:00
In this part of the video, the speaker discusses the potential investment in a B mapper, comparing it to previous experiences with Helium. They caution that early adopters might receive subsidized rewards, possibly using up half of the 4 billion supply to create initial hype. However, they express skepticism, drawing parallels to past disappointments with Helium. The speaker predicts a Honey price of around $93.8, although this could increase to $150 depending on the launch timing and circulating supply reduction. Ultimately, the speaker remains unconvinced about the cryptocurrency’s potential, advising viewers to avoid investing in it and encouraging them to share their thoughts in the comments.