#DePIN startup raises $5.6 million in funding#
Hot Topic Overview
Overview
Wingbits, a DePIN startup focused on the aviation industry, announced today that it has closed a $5.6 million funding round led by Borderless Capital and Bullish Capital, with participation from DeFi Partners, Sky Ventures, and others. This brings the company's total funding to $9.2 million. Wingbits aims to revolutionize the current flight tracking model, which relies on volunteers installing antennas to collect data that is then resold to airports and airlines for hundreds of millions of dollars in revenue, while the volunteers receive no compensation. Wingbits aims to do this by creating a reward-driven flight tracking model through crypto-secured ADS-B receivers. DePINs are a model that uses decentralized networks of secure hardware, and can be thought of as a blockchain version of cloud computing services provided by tech giants like Amazon and Google. The funding will be used to further develop Wingbits' reward-based flight tracking system and drive adoption of DePINs in the aviation industry.
Ace Hot Topic Analysis
Analysis
Wingbits, a DePIN startup focused on aviation, announced today it has 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 revolutionize flight tracking with a reward-driven model powered by crypto-secured ADS-B receivers, addressing the current issue where volunteers collect data for traditional flight tracking systems without receiving any compensation. Traditionally, flight tracking relies on volunteers installing antennas to collect data, which is then resold to airports and airlines, generating hundreds of millions of dollars in revenue while volunteers remain unrewarded. Wingbits' DePIN model utilizes a decentralized network of secure hardware, essentially a blockchain version of cloud computing services offered by giants like Amazon and Google, aiming to incentivize more participation in flight tracking data collection and sharing through reward mechanisms, ultimately leading to a safer and more transparent aviation data ecosystem.
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
DePIN is a model that uses decentralized network security hardware and can be seen as a blockchain version of cloud computing services offered by large tech giants such as Amazon and Google.
Wingbits aims to implement a reward-driven flight tracking model through crypto-secured ADS-B receivers, providing rewards to volunteers.
Wingbits' funding will be used to develop its reward-based flight tracking system and drive the application of DePIN technology in the aviation industry.
DePIN technology has the potential to revolutionize flight tracking in the aviation industry, providing rewards to volunteers and enhancing data security and transparency.