Helium (HNT-USD) is quietly building one of the most compelling use cases for a blockchain product available. The Helium network has flown largely under the radar throughout the year as a result of its declining HNT crypto prices, but it’s also secured investments from reputable crypto investment firms and internet service providers (ISPs). Today, it’s announcing a blockbuster collaboration with the Solana (SOL-USD) network, and further cementing itself as a dark horse 5G powerhouse.
Helium Mobile, a project of Helium developer Nova Labs, is announcing a partnership today with Solana Mobile. The collaboration between the popular blockchain networks will bring Helium’s mobile 5G network to Solana’s recently released Android phone, the Saga.
The Saga is a major step for blockchain technology expansion. Unveiled in June, the phone uses the Solana layer-1 blockchain to connect users with Web 3.0 dapps and trade crypto and non-fungible tokens (NFTs). Now, Helium Mobile will be adding to this first-of-its-kind tech by connecting Saga phones to its decentralized 5G network.
Using Helium 5G, Saga users will be able to connect to the internet from 6,300 active hotspot cells across the U.S. These cells, deployed and operated by other Helium users, will generate token rewards for owners each time a Saga user connects their phone to their hot spots. The program will provide Saga users with free 30-day trials of the network when the partnership takes effect.
Users can preorder the Saga on the Solana Mobile website for a $100 down payment. The phones are expected to ship in early 2023 when the partnership with Helium will officially begin.
Helium Network Continues Building Partnerships With Solana Mobile Deal
The Solana Mobile collaboration is a big moment for the Helium Network. Originally a project meant to connect less robust internet-of-things (IoT) devices, the Helium Mobile network and Nova Labs’ 5G ventures marks a major growth spurt for the company. It also adds to quite an eventful year for Nova Labs.
This partnership is quite huge, make no mistake. But, it’s far from the biggest collaboration Nova Labs has begun in 2022. In September, the company first launched its Helium Mobile subsidiary, thanks to a partnership with T-Mobile (NASDAQ:TMUS). The legacy ISP is helping to underlie Helium Mobile by filling in gaps in Helium’s network with its own 5G network.
Of course, the two companies aren’t strangers to each other. Earlier in the year, Nova Labs saw a significant capital injection by way of Telekom Innovation Pool, an investment fund that owns over 48% of T-Mobile. The investment came as part of the company’s $200 million Series D funding round. At this fundraiser in March, Nova Labs saw investment not just by the Deutsche Telekom (OTCMKTS:DTEGY) firm. But, from investment branches of several ISP companies, as well as crypto venture capital firms like Tiger Global and a16z.
It may be misleading to see all of this good news when one takes a look at the HNT crypto. Throughout the year, HNT prices have steadily declined from the close to $40 price it began 2022 with. Now, the coin is trading for around $4. With this much of a catalyst on the horizon, now might be a good time to consider the investment.
On the date of publication, Brenden Rearick did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
Brenden Rearick is a Financial News Writer for InvestorPlace’s Today’s Market team. He mainly covers digital assets and tech stocks, with a focus on crypto regulation and DeFi.