#Aviation DePIN company raises $5.6 million in funding.#
Hot Topic Overview
Overview
Aviation DePIN startup Wingbits recently announced 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 model using crypto-secured Automatic Dependent Surveillance-Broadcast (ADS-B) receivers. Currently, traditional flight tracking relies heavily on volunteers installing antennas to collect data, which is then resold to airports and airlines for hundreds of millions of dollars in revenue, while volunteers receive no compensation. Wingbits aims to revolutionize traditional flight tracking by providing rewards to volunteers through a decentralized network of secure hardware.
Ace Hot Topic Analysis
Analysis
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 and Sky Ventures, bringing its total funding to $9.2 million. Wingbits aims to revolutionize traditional flight tracking with a rewards-driven model powered by crypto-secured 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, with no compensation for the volunteers. Wingbits aims to provide a reward-based flight tracking system using a decentralized network of secure hardware, which can be viewed as a blockchain version of cloud computing services offered by tech giants like Amazon and Google. Wingbits' innovative model has attracted significant investor interest and presents new possibilities for the digital transformation of the aviation industry.
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Public Sentiment
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Classic Views
Aviation DePIN company Wingbits secures $5.6 million in funding, bringing its total raised to $9.2 million.
Wingbits aims to provide reward-based flight tracking using crypto-protected ADS-B receivers.
DePIN is a model that uses decentralized network security hardware, which can be viewed as a blockchain version of cloud computing services.
Wingbits aims to change the traditional flight tracking model through a reward mechanism, allowing volunteers to be rewarded.