$111 Million Raised by 5G Blockchain Network

As per the latest reports, Helium Network has reported that it has concluded a successful token sale round. According to Helium Network officials, the token sale round has proven to be extremely profitable for the company. The officials confirmed they have generated a high figure of $111 million from the sales of the tokens.

More details for the token sale round reveal that it was led by some of the largest and most prominent venture firms. These firms have gained tremendous growth and prominence and are linked with the blockchain industry.

The token sale carried out by the Helium Network was for its native tokens, called the HNT. Several venture capital firms and other investors jumped in on the opportunity to acquire as many tokens as possible. One of the most prominent entities in the particular funding round was Andreessen Horowitz.

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Other firms that also participated in the particular token sale round were Ribbit Capital, Multicoin Capital, and Alameda Research. This information has been shared by one of the major crypto-reporting firms known as BNN Bloomberg.

Ali Yahya, the general partner at Andreessen Horowitz shared his thoughts about the token sale and the Helium Network at Bloomberg. He stated that the cryptocurrency protocols have been destined to change the way the centralized world has been working.

According to Yahya, Helium Network would prove to be one of the major protocols from the cryptocurrency industry that introduces such change in the centralized world.

There was a time when the traditional financial firms and other institutions looked forward to centralized systems. However, with the passage of time, the decentralized world has started taking over the world. Therefore, things are going to take a different turn and they are ensuring they make the right investments at the right time. Their aim is to benefit from the industry as much as they can and Helium Network is one of those beginnings.

Yahya revealed that with the passage of time, the decentralized industry will take over the telecommunication service providers from around the world. The cryptocurrency and blockchain industries have been introduced to revolutionize the world. So far, they are doing exactly what they have been claimed to do.

Furthermore, Yahya made another announcement in regards to its collaboration with Helium Network on Tuesday, August 17, 2021. Yahya stated that they will be working together with Helium Network to introduce a futurist telecommunication network, calling it the “grassroots telecom network”.

Sam Bankman-Friend, the founder of Alameda Research also took the opportunity to talk about the Helium Network. He stated that the Helium Network has the potential of being a very advantageous network globally. The network can be used on a larger scale to bring the 5G technology to a huge number of people from all over the world.