This is a segment from the Lightspeed newsletter. To read full editions, subscribe . The crypto-powered cellular network Helium Mobile overhauled its pricing model for new subscribers — which formerly offered unlimited call, text and data for $20 per month. Invite-only free plans come with 3 GB of data, 300 texts, and 100 minutes per month, $15 plans offer 10 GB of data with unlimited talk and text, and unlimited plans are now $30 per month. Legacy subscribers to the $20 per month plan can keep their existing price. It also introduced a points program to reward things like location sharing that users can redeem for gift cards. The moves come amid a turbulent last several months that included layoffs and an SEC lawsuit at Helium Mobile’s parent company Nova Labs. Helium Mobile is one of the most ambitious attempts at building a decentralized physical infrastructure network — DePIN for short — a popular concept among the “ crypto should do things ” crowd. Helium Mobile comprises a network of individuals plugging in mobile hotspots to create a patchwork of what are essentially mini cell towers. Subscribers use Helium’s service where coverage is available and get T-Mobile service elsewhere. Helium Mobile rolled out its unlimited plan nationwide in the US for $20 per month in late 2023. $20 per month is a fraction of what legacy cell carriers charge for unlimited cellular plans, and combined with the fact that Helium Mobile must pay T-Mobile for some of the data subscribers use, it was never going to last forever. More price options are also nice for consumers — if you use less than 10 GB of data in a month, you no longer need to subsidize usage from data guzzlers. Helium Mobile’s new free tier is a cool concept, but it’s not clear to me that it’ll find much demand — do you know anyone, particularly in the crypto world, who uses less than three gigs of data and 100 call minutes in a month? One possible target demographic could be Solana mobile phone holders, who may own the devices as second phones and wouldn’t want to pay for a second cell plan. Coco Tang, general manager of Helium Mobile subscribers, said the free plan could also be a good option for consumers wanting to try Helium before fully making the switch. Helium Mobile developer Nova Labs will hope the new pricing model can drive up revenue following what has been a turbulent year for the company. It laid off 36% of its staff in August, Lightspeed reported exclusively . Then a couple weeks ago, outgoing SEC Chair Gary Gensler made his last enforcement action a lawsuit against Nova Labs charging the company with fraud. Start your day with top crypto insights from David Canellis and Katherine Ross. Subscribe to the Empire newsletter . Explore the growing intersection between crypto, macroeconomics, policy and finance with Ben Strack, Casey Wagner and Felix Jauvin. Subscribe to the Forward Guidance newsletter . Get alpha directly in your inbox with the 0xResearch newsletter — market highlights, charts, degen trade ideas, governance updates, and more. The Lightspeed newsletter is all things Solana, in your inbox, every day. Subscribe to daily Solana news from Jack Kubinec and Jeff Albus.
