#Aviation DePIN company Wingbits raises $5.6 million in funding#
Hot Topic Overview
Overview
Aviation DePIN company Wingbits recently announced the completion 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 is building a reward-based flight tracking system using crypto-protected broadcast Automatic Dependent Surveillance-Broadcast (ADS-B) receivers. Currently, traditional flight tracking relies on volunteers installing antennas to collect data, but this data is then resold to airports and airlines for hundreds of millions of dollars in revenue, with no compensation for the volunteers. Wingbits aims to reward volunteers through its decentralized network of secure hardware and build a more transparent and equitable flight tracking system.
Ace Hot Topic Analysis
Analysis
Aviation DePIN company Wingbits recently raised $5.6 million in funding 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 leverage decentralized physical infrastructure (DePIN) technology to enable reward-driven flight tracking through crypto-secured ADS-B receivers. Currently, traditional flight tracking relies primarily 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 volunteers receive no compensation. Wingbits aims to change this by incentivizing more people to participate in flight tracking through a reward system and ensuring data security and transparency through blockchain technology. DePIN is a model that uses decentralized networks of secure hardware, and can be seen as a blockchain version of cloud computing services offered by tech giants like Amazon and Google. Wingbits’ funding will be used to further develop its platform and expand its reach within the aviation industry.
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
Wingbits aims to provide a reward-driven flight tracking model using crypto-secured ADS-B receivers, rewarding volunteers.
DePIN is a model that uses decentralized network security hardware and can be seen as a blockchain version of cloud computing services offered by tech giants like Amazon and Google.
Wingbits' goal is to provide reward-based flight tracking using crypto-secured Automatic Dependent Surveillance-Broadcast (ADS-B) receivers.
Wingbits' funding will be used to further develop its DePIN network and apply it to areas such as flight tracking in the aviation industry.