Why did Nova labs switch to crypto in 2018?

Nova Labs pivoted to crypto in 2018, introducing rewards to users in the form of branded tokens. The company, which changed its name from Helium Inc., has previously come under fire for saying Salesforce Inc. and electric scooter company Lime were using its wireless network services when they were not.

What financial advisors need to know about crypto?

What financial advisors need to know about crypto. The transformation of value in the digital age. Chief Operating Officer Frank Mong said the firm wanted to make a clear distinction between the parent company and the network itself. Helium Inc., the company behind the fast-growing Helium blockchain, has rebranded as Nova Labs.

What is Nova labs & how does it work?

In return, Nova Labs offers hotspot owners a reward of 50 cents in crypto tokens for every gigabyte of data they provide to users. Nova Labs isn’t the only player attempting to merge the worlds of telecommunications and cryptocurrency. In 2018, Sirin Labs ventured into this space with a blockchain smartphone, which remains available for purchase.

How much is Nova labs worth?

Nova Labs also confirmed earlier reports of a $200 million Series D funding round led by Tiger Global, with participation from Andreessen Horowitz (a16z), Deutsche Telekom (DTEGY) and others. The latest funding round brings the California-based company’s valuation to $1.2 billion.