Did you know your Turo fleet can now earn crypto? A start-up called DIMO (Digital Infrastructure for Moving Objects) makes this possible by providing the hardware, software and network to monetize car data.
I’m in no way, shape, or form an expert in crypto. I have no idea how most of it works. But I do know it has value, and if there’s a free and easy way to earn some then I’m on board. Which is why I decided to give it a try.
I connected my Tesla Model 3 to their network by signing up and granting access to my car’s location, speed, mileage, charging information, and other data. This data is then anonymized and sold (using DIMO tokens) to businesses and developers who can use it to improve their products and services.
Usually the idea of giving up a bunch of personal data to a tech company seems a little sketchy, but in this case the cars aren’t being driven by me (or any other individual person), so the data is just an aggregate of random people. That makes this ideal for Turo hosts. And it’s why I haven’t connected my personal car to the network, although I may do so in the future.
If your car doesn’t have a connected app, you can purchase a physical DIMO data miner and install it yourself. It will collect the same data and earn you crypto. Another benefit for Turo hosts is that you can track your car’s location, and at least for Teslas you can lock/unlock the car as well. This really helps me since my personal car is also a Tesla, but I use different accounts for each car. Not having to log out and switch accounts each time is very convenient. I just open the DIMO mobile app to unlock my Turo Tesla.
For each vehicle that you share data from, you will earn DIMO tokens. The amount of DIMO tokens you earn will depend on the amount of data you share and the demand for that data. You can then sell your DIMO tokens or use them to purchase goods and services in the DIMO marketplace.
DIMO has partnered with a number of companies within their marketplace, and you can earn additional tokens by using their services. Think of it like credit card points.
How much are DIMO tokens worth?
According to Coinbase at the time of this writing, DIMO tokens are valued at $0.50 (USD) each. For comparison, Bitcoin is valued at $66,860. So DIMO clearly has a long way to go. But hey, it’s free money if you can install the software version of the data miner.
If you’re interested in giving this a try, you can sign up at onelink.to/dimo, and if you use my referral code PLREJF we’ll both receive 50 $DIMO after you connect your first vehicle.
