#Wingbits raises $5.6 million in funding.#
Hot Topic Overview
Overview
Wingbits, a decentralized physical infrastructure (DePIN) startup focused on the aviation industry, 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 aims to address the issue of volunteers collecting flight tracking data without compensation in the current traditional model, by implementing a reward-driven flight tracking model using crypto-secured ADS-B receivers. Wingbits' goal is to provide reward-based flight tracking using a decentralized network of secure hardware, which can be seen as a blockchain version of cloud computing services offered by tech giants like Amazon and Google.
Ace Hot Topic Analysis
Analysis
Wingbits, a decentralized physical infrastructure (DePIN) startup focused on the aviation industry, 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 solve the problem of volunteer data collection without reward in traditional flight tracking by implementing a reward-driven flight tracking model using crypto-secured ADS-B receivers. Currently, traditional flight tracking relies primarily 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 receive no compensation. Wingbits aims to provide reward-based flight tracking using crypto-secured Automatic Dependent Surveillance-Broadcast (ADS-B) receivers, which can be seen as a blockchain version of cloud computing services offered by tech giants like Amazon and Google.
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
Wingbits is committed to leveraging Decentralized Physical Infrastructure (DePIN) technology to enable a reward-driven flight tracking model through crypto-secured ADS-B receivers.
Wingbits aims to disrupt the traditional flight tracking model, allowing volunteers to be rewarded for collecting data by installing antennas, instead of selling the data to airports and airlines.
Wingbits has secured $5.6 million in funding led by Borderless Capital and Bullish Capital, bringing the total funding to $9.2 million.
DePIN is a model that uses decentralized network-secured hardware, which can be seen as a blockchain version of cloud computing services offered by tech giants like Amazon and Google.