Helium was touted as the best real-world use case of Web3 technology. But as it struggles to generate revenue, a Forbes investigation found that executives and their friends quietly hoarded the majority of wealth at the project's inception.
Even for someone skeptical of crypto, Helium’s pitch was hard for Dulce Davis to ignore.
Backed by investors Andreessen Horowitz and Tiger Global, the $1.2 billion Web3 company said it was building the “People’s Network,” a global wireless internet connection for objects like parking meters and dog collars. All Davis had to do was spend $500 on a machine that looked like a wifi router, plug it into her wall and receive Helium’s cryptocurrency in return — a recurring passive stream of income. One Helium investor claimed that owners could recoup their purchase in a few weeks.
Even better: If demand for Helium’s system took off, driving up the value of its Helium Network Token, or HNT, the company implied that the network’s gains would be shared by...
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INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...