Polygon Labs, a prominent Ethereum Layer-2 scaling solution, has partnered with sustainable infrastructure startup Pyse to introduce tokenized electric vehicle (EV) fleets in Dubai, marking a significant step in merging blockchain technology with green mobility. This initiative leverages Polygon’s blockchain to enable fractional ownership and real-time data tracking of electric delivery motorcycles, creating a novel model for revenue generation and environmental impact monitoring.
Each electric motorcycle in the fleet is equipped with Pyse’s proprietary DePIN Mining Machine (DMM), which records urban environmental data such as air quality, road conditions, and noise pollution. This data is securely stored on-chain, allowing stakeholders to earn token rewards based on the quality and value of the information collected. The project combines stable income from EV rentals with speculative returns from decentralized data monetization, offering a unique blend of real-world asset (RWA) investment and blockchain innovation.
Dubai serves as the launchpad for this initiative, with plans underway to expand into India’s rapidly growing EV market, which is expanding at an annual rate of 18%. India’s fragmented last-mile logistics sector stands to benefit from blockchain-enabled financing and operational transparency. Pyse’s tokenization framework facilitates fractional co-ownership of EV assets, providing flexible revenue-sharing models that can attract new funding sources beyond traditional financial institutions.
The rollout in Dubai already involves fixed rental agreements with local logistics companies, ensuring stable returns anchored by real-world contracts. Meanwhile, the DMM’s data collection layer introduces a dynamic component, creating new revenue streams through verified environmental data. Pyse aims to extend this model to India’s last-mile delivery, ride-hailing, and mid-mile logistics sectors, capitalizing on the country’s readiness for decentralized physical infrastructure networks (DePIN).
Polygon’s Global Head of Payments and Liquidity, Aishwary Gupta, emphasized the project’s role as an infrastructure provider, with Pyse managing regulatory compliance and token issuance. This collaboration represents a pioneering approach to RWAs by integrating live data and yield generation, moving beyond static asset tokenization models.
Looking ahead, Pyse envisions establishing a decentralized data DAO to govern and monetize collected urban data, which has potential value not only in India but across Southeast Asia. This initiative also aligns with Polygon’s commitment to sustainability, as the Polygon protocol is carbon-neutral and aims to become carbon-negative.
This innovative project highlights the growing intersection of blockchain technology, environmental sustainability, and real-world asset tokenization, setting a precedent for future green infrastructure investments on-chain.
