Karmaship has managed to start their economy in the blockchain festival, Outside in Equinox. The festival targeted audiences who had their interests specifically in technology, music, and art in general.
The festival Outside in Equinox was recently conducted in Santa Barbara mountains. The aim was to put forward a festival which could act as the ‘Burning Man’ for crypto. The partners of the festival Karmaship aimed to start their own economy through the festival by breaking the monopolies of central banks to bring a decentralized economy to the mainstream.
They planned to achieve their goals by giving away their currency for free to the attendees and building their use cases in the festival. The co-founder of Karmaship, Alfa Warrior previously told BlockPublisher,
This is a great idea to start the economy by bringing the concerned minds to a place where we can inaugurate a festival for crypto much like Burning man, while we’re in development. After that we can open up to almost everything in the world.
The event inaugurated at 21st of September, the goals for Karmaship during the event were to start their economy by bringing vendors and attendees to the same page. They conducted airdrops for the attendees at the event which they could mine afterward and send them to their friends and family. After the event, the co-founder seemed pretty happy with the performance of the currency. He stated in an email interview with BlockPublisher regarding the event,
The event was a massive success! The Karmaconomy has officially started.
Karmaship also introduced Proof-of-Experience (PoX) in their currency KMX. Once a user gets the currency, he/she can gather more KMX by proving that the currency was used. Putting it into simple words, the user gets currency on using a certain amount. Their PoX was set to launch during the festival. Alfa explained the proceedings saying,
We made history Sunday when we finally got the LAN mesh working and the genesis block created. People were able to prove they were at the event, send that proof to our blockchain and then begin gathering KMX. Soon after they were spending it with vendors and getting real stuff! It took off and everyone was having a blast! Now they are continuing to gather coin and will be passing on the karma to friends and family once we get the web wallet up this week. We are planning to have an experience airdrop at least once a month so more can get into this new underground economy.
From the word of the co-founder, it is clear that the goals that Karmaship was set to achieve through Outside in Equinox were truly achieved. The economy started and the proof-of-experience launch ended in success. Now, they aim to target different aspects of the global economy for their mass adoption.