News

Nova Labs Inc., a blockchain startup, has announced a new phone plan that costs only per month and offers unlimited text, talk, and data. Initially, this plan will only be available to residents of Miami or those who receive an invitation to access the product. Nova Labs, previously known as Helium Inc., was founded in 2013 with a focus on developing a decentralized wireless network for Internet of Things devices like pet trackers and environmental sensors. In 2018, the company shifted its focus to cryptocurrency and introduced rewards in the form of branded tokens to its users.

Nova Labs has raised a significant amount of funding, including a recent 0 million investment led by Tiger Global Management and Andreessen Horowitz. The company plans to power its new offering with 5G hotspots owned by individuals and businesses. Users who sign up for the plan will be able to connect to these hotspots using their mobile devices, including iPhones and Androids, through the Helium Network. Nova Labs claims to have over 7,000 hotspots across the United States.

The telecom industry has faced challenges with customer service and pricing wars, creating an opportunity for competitors to offer unlimited plans at lower prices. Nova Labs aims to disrupt the traditional economic model of building wireless networks. CEO Amir Haleem acknowledges the general discontent with telecom companies and believes Nova Labs’ approach could provide a more appealing alternative.

In addition to Nova Labs, other companies have attempted to combine telecommunications with crypto and blockchain technologies. For instance, Sirin Labs developed a blockchain smartphone, and Solana Labs introduced a mobile phone. Nova Labs has partnered with T-Mobile to launch a crypto-powered mobile service, ensuring connectivity even when users are out of range of a Helium hotspot.

Although the Helium Network provides better economics for customers compared to T-Mobile, according to Haleem, the partnership with T-Mobile remains crucial. Haleem acknowledges the current limitations of the network’s size and coverage, and recognizes the need for a reliable wireless services partner.

Nova Labs’ phone plan with unlimited text, talk, and data, coupled with its decentralized wireless network approach, could offer an attractive alternative to traditional telecom companies.

The post Nova Labs Offers Monthly Phone Plan with Unlimited Text, Talk, and Data appeared first on ISP Today.