After a successful test in Miami, Nova Labs is utilizing blockchain technology and T-cell’s network to provide a $20 monthly cell plan across the country.
Bloomberg claims that the service, unique in that it combines telecoms and blockchain technologies, provides an unlimited text, call, and data package.
The company announced its foray into the telecom industry in August by launching a $5 trial program in Miami under the Helium Mobile brand. This wider implementation was made possible by the Miami program’s success.
Users must install wireless hotspots in their homes in order to utilize Helium Mobile’s unique network; these devices are available in indoor and outdoor configurations, with prices of $249 and $499, respectively.
Where there are no Helium hotspots, the service smoothly switches to T-Mobile’s network. Notably, MOBILE cryptocurrency tokens are used to compensate Helium hotspot owners based on usage.
Users may accrue about fifty cents for every gigabyte, providing a novel means of making money from streaming activities such as viewing movies. Last year, Nova Labs reached a significant milestone when it raised $200 million in funding, which resulted in a $1.2 billion valuation.
Prominent investors, including Andreessen Horowitz and Tiger Global Management led the investment round.