Protocol Village: Flight-Tracking DePIN Protocol Wingbits Raises $3.5M

Wingbits, Stockholm-Based Flight-Tracking Protocol, Raises $3.5M in Seed Funding

As a seasoned researcher with a penchant for blockchain technology and a soft spot for wine, I find myself intrigued by these latest developments in the crypto-verse. The Stockholm-based Wingbits, with its innovative flight-tracking network built on Solana, is an exciting step forward in decentralized data capture. I’ve always been fascinated by the potential of blockchain to incentivize ordinary people to contribute valuable data, and this seems like a great application.

In a recent announcement, Wingbits, a Swedish company developing a Decentralized Positioning and Navigation (DePIN) flight-tracking network using the Solana blockchain, has secured $3.5 million in seed funding. The funding round was spearheaded by Borderless Capital and Tribe Capital, with additional investments from Antler and angel investors. According to the team, Wingbits incentivizes individuals who maintain antennas for data collection by rewarding them based on factors like performance, coverage, and uptime. Global leaderboards showcase the best performing antennas. As of the end of 2023, there were 40 nodes on the platform; today, nearly 2,000 nodes have been added.

Nuffle Plans ‘Nuff Protocol’ as Permissionless Platform for Multichain Restaking on EigenLayer

The blockchain project called Nuffle, which was launched with a $13 million investment in June as a spin-off from NEAR, is set to incorporate EigenLayer’s multichain capabilities. The team behind NEAR DA (a data-availability solution) and the Nuffle Fast Finality Layer actively validated service (AVS) are constructing the Nuff Protocol, an open platform. This platform allows AVSs to securely and natively leverage cryptoeconomic security from any blockchain while settling on the most active staking ecosystem, EigenLayer. For the first time, stakers will have the opportunity to provide security and receive rewards directly from their native chains through the Nuff Protocol.

DVIN Labs, Developer of Wine-Focused Protocol, Adds Real Vision’s Pal to Board

DVIN Labs, the group responsible for the creation of the dVIN protocol, recently welcomed Raoul Pal, co-founder and CEO of Real Vision, as well as a passionate wine connoisseur, to its board of directors. The team explains that the dVIN Protocol utilizes blockchain technology to enable wine enthusiasts to generate income by sharing their data and receive rewards for their wine-related activities, purchases, and loyalty.