Colosseum — discover select projects from the proving ground for crypto's best builders
Learn moreThis is the first ownership score allocation raise. Check your score here: score.metadao.fi
© MetaDAO LLC 2023-2026© 2023-2026. ALL RIGHTS RESERVED.
The world’s first Hot Wheels gacha platform
Hot Wheels is a ~$1.7B annual market with over 50 years of collector history, yet it lacks the financial infrastructure that transformed Pokémon into a $10B secondary market and a $2B gacha market, despite a primary market of only $2-4B.
We’re building the first Hot Wheels gacha platform where users open digital mystery packs backed by real inventory, instantly reveal a collectible, and choose to either hold it digitally, redeem the physical car, or instantly sell it back to the platform.
The Rip Cars team is the same people as the Ownership Ventures (fka Ownership Capital) team: David Khosroshvili and Ioseb Khutsishvili.
We are two entrepreneurs who have worked together for 8+ years across both a crypto prop trading firm and several tech businesses in our home country of Georgia. Our joint business experience includes Olmait (an Israeli-Georgian data engineering and cloud infrastructure company, $2.8M ARR), MaxinAI (an ML and blockchain engineering company that generated $4.7M in revenue between 2022 and 2024), and WiFisher (Twilio of Georgia, with ~70% market share & customers including Carrefour Georgia, JTI Caucasus, and Georgian Water & Power).
We’re building Rip Cars while Ownership Ventures is in its legal formation stage and our plan is to find another entrepreneur to run it if it takes off.
We are raising $250,000 for 9 months of runway.
Capital will primarily be used for:
The monthly allowance is set to $40,000 to allow us to purchase inventory without going through proposals. We expect operating costs to remain below $20,000 per month - we won’t be taking a salary initially.
Our goal is to generate at least a 5% gross margin on every gacha pull.
Our ultimate goal is to send net revenue back to the treasury; we’re still figuring out the legal, tax, and operational implications of this, so it won’t happen on day 1.
CARS is an ownership coin, not equity and not a security. It represents community ownership of Rip Cars, governed through MetaDAO's decision market structure.
All IP is held by a segregated portfolio of Futarchy Governance SPC that enshrines the CARS token as the oversight instrument of Rip Cars. You can read more about how MetaDAO works in the docs.
The initial split of CARS is as follows:
If the raise completes, its size will be exactly $250,000, which sets the initial FDV to $645,000.
Exit/acquisition: If, at any point, there is an acquisition or exit proposal and decision markets pass it, all team tokens - 12.9M $CARS - will unlock as part of the transaction, except when the transaction value is below $645,000, the FDV at the ICO. If it’s below $645,000, an amount of team tokens shall unlock such that the team gets 50% of the profits (the exit value minus $250k) of the sale.
Website: http://ripcars.io/
X: https://x.com/ripcarsio
For additional terms and information please refer to the MetaDAO Terms of Service.
Hot Wheels is a ~$1.7B annual market with over 50 years of collector history, yet it lacks the financial infrastructure that transformed Pokémon into a $10B secondary market and a $2B gacha market, despite a primary market of only $2-4B.
We’re building the first Hot Wheels gacha platform where users open digital mystery packs backed by real inventory, instantly reveal a collectible, and choose to either hold it digitally, redeem the physical car, or instantly sell it back to the platform.
The Rip Cars team is the same people as the Ownership Ventures (fka Ownership Capital) team: David Khosroshvili and Ioseb Khutsishvili.
We are two entrepreneurs who have worked together for 8+ years across both a crypto prop trading firm and several tech businesses in our home country of Georgia. Our joint business experience includes Olmait (an Israeli-Georgian data engineering and cloud infrastructure company, $2.8M ARR), MaxinAI (an ML and blockchain engineering company that generated $4.7M in revenue between 2022 and 2024), and WiFisher (Twilio of Georgia, with ~70% market share & customers including Carrefour Georgia, JTI Caucasus, and Georgian Water & Power).
We’re building Rip Cars while Ownership Ventures is in its legal formation stage and our plan is to find another entrepreneur to run it if it takes off.
We are raising $250,000 for 9 months of runway.
Capital will primarily be used for:
The monthly allowance is set to $40,000 to allow us to purchase inventory without going through proposals. We expect operating costs to remain below $20,000 per month - we won’t be taking a salary initially.
Our goal is to generate at least a 5% gross margin on every gacha pull.
Our ultimate goal is to send net revenue back to the treasury; we’re still figuring out the legal, tax, and operational implications of this, so it won’t happen on day 1.
CARS is an ownership coin, not equity and not a security. It represents community ownership of Rip Cars, governed through MetaDAO's decision market structure.
All IP is held by a segregated portfolio of Futarchy Governance SPC that enshrines the CARS token as the oversight instrument of Rip Cars. You can read more about how MetaDAO works in the docs.
The initial split of CARS is as follows:
If the raise completes, its size will be exactly $250,000, which sets the initial FDV to $645,000.
Exit/acquisition: If, at any point, there is an acquisition or exit proposal and decision markets pass it, all team tokens - 12.9M $CARS - will unlock as part of the transaction, except when the transaction value is below $645,000, the FDV at the ICO. If it’s below $645,000, an amount of team tokens shall unlock such that the team gets 50% of the profits (the exit value minus $250k) of the sale.
Website: http://ripcars.io/
X: https://x.com/ripcarsio
For this raise, we’re trying out a new experimental allocation mechanism: Ownership Score. Up to 50% of the raise will be allocated to Ownership Score holders, and the remaining will go to standard time-based allocations.
Ownership Score is calculated as follows:
You can check your Ownership Score by visiting https://score.metadao.fi/.
For additional terms and information please refer to the MetaDAO Terms of Service.
