#Wingbits Raises $5.6 Million in Funding#
Hot Topic Overview
Overview
Wingbits, a decentralized physical infrastructure (DePIN) startup focused on the aviation industry, has announced the completion of a $5.6 million funding round led by Borderless Capital and Bullish Capital, with participation from DeFi Partners, Sky Ventures, bringing its total funding to $9.2 million. Wingbits aims to address the problem of volunteer-driven flight tracking, where individuals collect data without compensation, by introducing a reward-driven model using crypto-secured ADS-B receivers. DePIN is a model that utilizes decentralized networks of secure hardware, akin to a blockchain version of cloud computing services offered by tech giants like Amazon and Google. Wingbits aims to provide reward-based flight tracking using crypto-secured Automatic Dependent Surveillance-Broadcast (ADS-B) receivers.
Ace Hot Topic Analysis
Analysis
Wingbits, a DePIN startup in the aviation industry, has announced the closing of a $5.6 million funding round led by Borderless Capital and Bullish Capital, with participation from DeFi Partners and Sky Ventures, bringing its total funding to $9.2 million. Wingbits aims to provide reward-based flight tracking services for the aviation industry using decentralized network security hardware. Currently, traditional flight tracking relies on volunteers installing antennas to collect data, but this data is then resold to airports and airlines, generating hundreds of millions of dollars in revenue while the volunteers receive no compensation. Wingbits seeks to create a more equitable and transparent flight tracking model by rewarding individuals for participating in data collection through crypto-secured ADS-B receivers. DePIN is a model that uses decentralized network security hardware and can be viewed as a blockchain version of cloud computing services offered by tech giants like Amazon and Google. Wingbits will use the funding to further develop its platform and expand its applications in the aviation industry.
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
Wingbits aims to enable a reward-driven flight tracking model through encrypted ADS-B receivers, rewarding volunteers.
Wingbits is committed to providing blockchain-based flight tracking services to the aviation industry using decentralized network security hardware, similar to cloud computing services offered by Amazon and Google.
Wingbits' funding will be used to develop its reward-based flight tracking system and further promote the application of DePIN in the aviation industry.
Wingbits' funding has attracted the participation of several well-known investment institutions, demonstrating the potential and development prospects of DePIN in the aviation industry.