Helium: Nova Labs Presents IoT Project 1663 and Hopes for Industrial Customers

Helium (HNT) is focused on the Internet of Things (IoT) and implements a user-provided network. Now, Project 1663 aims to introduce customers from business and industry to Helium.

Ranking around 100 in the top cryptocurrency, Helium (HNT) is a backbencher that may be most familiar to investors interested in the Internet of Things (IoT) coupled with blockchain technology.

Helium’s flagship project to date has been its own network that can send and receive IoT data over the air. This network now has around 1 million hotspots worldwide, and those who provide them receive a share of the usage fees paid out in Helium. However, revenues are falling far short of expectations; in individual months, the Helium Foundation is said to have collected just $2,000 in fees. Now Helium and the crypto company behind it, Nova Labs, are looking to jumpstart momentum with a 1663-named project.

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A press release describes 1663 as specifically targeting large enterprises

They are to be convinced to join the Helium network. In return, they will be provided with software as well as consulting services. Helium co-founder Amir Haleem sees IoT as a billion-dollar market. However, he also had to admit that Helium has made mistakes in the past. For example, it advertised with well-known cooperation partners, but in reality, they only carried out test runs with Helium. The project launched in the fall of 2022 to implement a decentralized 5G network via Helium has also not yet progressed beyond a good 8,000 hotspots.

1663 will access the already better Helium network for data transmission. The web presence cites use cases such as water quality control, supply chain tracking, or smart agriculture, where IoT devices collect data that can then be analyzed to lead to efficient strategies. Nova Labs promises to provide customized support to customers for 1663.

Conclusion: Helium aims to become more attractive through large-scale IoT project 1663

HNT’s price curve shows a positive trend in 2023, up about 70 percent year-to-date, but with price levels currently around $2.90, Helium is miles away from all-time highs above $50 from 2021. The original IoT concept of Helium and Nova Labs, which was aimed at an active community, did not work out, and now the wooing of large companies as customers is supposed to herald a turnaround. However, even competitors like IOTA () know that cooperation with industry often “only” leads to pilot projects and misses the decisive step towards practice. For Helium, it is now the acid test to turn the 1663 idea into a package for IoT that is accepted by the market.

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(Featured image by emrahkarakas via Pixabay)

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