Wingbits, a Swedish blockchain-based aviation data network, is set to expand its capabilities with the introduction of satellite-tracking. This strategic move is part of the company’s ambitious plans to penetrate the lucrative $22 billion aviation data sector. Wingbits’ latest venture, a satellite launch in partnership with Spire Global, an operator of a low-orbit satellite constellation, is scheduled to occur late-February. The launch will be facilitated by SpaceX’s Transporter-13 mission from Vandenburg Space Force Base, located in California.

The announcement was made during the Consensus Hong Kong event by Robin Wingardh, the CEO and co-founder of Wingbits. According to Wingardh, the satellite will complement the company’s vast on-the-ground node network of over 2,200, managed by aviation enthusiasts worldwide. This decentralized physical infrastructure network, also known as DePIN, incentivizes data providers with Solana testnet tokens.

The current flight-tracking industry heavily depends on aviation enthusiasts to supply data on airplane movements. However, unlike companies like FlightAware and Flightradar24 that sell data to aviation analytics firms, airlines, insurers, and more, Wingbits plans to reward these enthusiasts for their contributions.

Currently, Wingbits boasts contributors from over 90 nations tracking approximately 120,000 unique flights daily. The company aims to establish a global network through its innovative reward system. This system permits the exchange of tokens for air miles, airport lounge access, and other services, providing a unique value proposition for contributors.

The launch of the satellite will enable Wingbits to cross-verify ground data, safeguarding against potential “spoofing”. By cross-referencing flight data from DePIN with data from the satellite, Wingbits aims to deliver more accurate information than its competitors. The company has recently secured $5.6 million in a second seed round from renowned investors such as Borderless Capital and Bullish Capital, indicating strong confidence in its innovative approach to aviation data tracking.