Is the Web3 platform 'Helium', which is mentioned by 'Cooperating with network expansion', really lucrative?



Helium is a blockchain platform based on a wireless network for IoT built by Peer to Peer (P2P), and is known as an example of the Web3 platform, which is a decentralized online ecosystem based on blockchain. Helium is attracting attention from some investors because if you install a dedicated device and help expand the network, you will receive a virtual currency called HNT token, but investor Liron Shapira said on Twitter about the actual situation. I'm picking it up.



Helium's network is built with a low power wireless router called 'Hotspot'. Users buy this Helium Hotspot to connect to their home or work Wi-Fi and share their network. Hotspot can cover up to 26km in circumference and can be connected to nearby Hotspot to build a unique network that supports the LoRaWAN protocol. Furthermore, by combining blockchain technology, HNT tokens will be given to users who have installed Hotspot.

According to Shapira, Helium has already raised $ 365 million in investment. And it is estimated that Hotspot has sold 250 million dollars (about 34.2 billion yen) by mentioning that the more Hotspot is installed, the more HNT tokens will be received. However, the HNT token distributed in June 2022 was about $ 6,500 (about 890,000 yen) for the entire network.

On the online bulletin board site Reddit's r / helium , people who have invested in Helium spend $ 400 (about 54,000 yen) to $ 800 (about 110,000 yen) to purchase Hotspot, and $ 100 a month (about 1). He was expected to have an income of about 3,700 yen). However, in reality, it seems that the per capita income was about 20 dollars (about 2700 yen) a month.



Moreover, according to Mr. Shapira, the legitimate reward for the network is $ 0.01 a month (about 1.3 yen), and the rest is a temporary profit from the investment in network growth and the market price of HNT tokens.



Meanwhile, Nova Labs , which runs Helium, raises $ 300 million from investors in a year, Shapira said. Helium seems to have become a business close to the Ponzi scheme , which raises $ 300 million and returns only $ 6,500 a month to investors.



After all, the Helium network was expected as a wireless network for IoT, but in reality the demand is so low that even if Helium has more than 500,000 Hotspots, it will not be profitable. .. After all, if you don't get the incentive of tokens, you won't be motivated by users, and it's unlikely that Helium will grow significantly from here. Therefore, it is predictable that there will be no end-user demand for Helium networks, and analysis of the wireless network market shows that the expectation that 'the demand for Helium networks will increase' is only a completely exaggerated speculation. Shapira evaluates that there is no such thing.



'Watch out for easy and lucrative ways,' says Shapira. 'Watch out for empty, abstract stories.'

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