Xyo

Xyo, founded in Berlin in 2010 by Marcin Rudolf, initially operated as a mobile application search engine. The company developed a "Guided Search" technology to enhance app discovery, moving beyond the limitations of traditional app stores where a small fraction of apps receive the majority of downloads. This technology provided users with suggestions for alternative applications based on their current favorites, complete with QR codes for quick installation. The venture was supported by investors such as Signia Venture Partners and Flaregames CEO Klaas Kersting. In October 2014, the app search engine and its contextual advertising technologies were acquired by Mandalay Digital Group (now Digital Turbine).

Following this, the brand pivoted significantly. In 2018, Arie Trouw, Markus Levin, and Scott Scheper co-founded XYO as a US-based decentralized physical infrastructure network (DePIN). This new iteration focuses on creating a trustless, blockchain-based location oracle network. Drawing inspiration from the collaborative nature of the early internet, the founders aimed to build a network that integrates digital sovereignty, allowing users to own and control their data. Before launching XYO, the parent company, XY Labs, developed products like XY Find It, a Bluetooth-powered item locator.

The core of XYO's business is a global network of nodes—many of which are mobile devices running the COIN app—that collect and validate real-world data, primarily geospatial information. This crowdsourced data is secured through cryptographic protocols like Proof of Origin and Proof of Location to ensure its integrity. The business model is centered on this verified data, which is valuable for industries requiring high certainty, such as supply chain management, autonomous vehicles, and AI training. Revenue is generated through products and services built on the network, and the company reported revenues of $10.5 million in 2023. The ecosystem operates with two main digital assets: COIN, an in-app reward earned by users for contributing data, and the XYO token, an ERC-20 token that users can redeem their COIN for. The XYO token is the network's currency and is traded on major exchanges.

Keywords: mobile app search, contextual advertising, Digital Turbine, decentralized physical infrastructure network, DePIN, blockchain, location oracle, geospatial data, Arie Trouw, Markus Levin, Scott Scheper, XY Labs, COIN app, data validation, Proof of Origin, trustless data, crowdsourced data, IoT, cryptocurrency, XYO token