How WeatherXM Transforming Weather Forecasting Industry
By integrating DePIN and Web3, WeatherXM not only advances weather data collection but also brings financial incentives to its network contributors.
It is fascinating to witness the Decentralized Physical Infrastructure Network (DePIN) making its way into industries that previously had little connection with Web3 technology. WeatherXM recently came on our radar as a standout example, having secured $7.7 million in funding from top crypto investors.
WeatherXM is a community-based weather network. It rewards people who own and operate weather stations and provides accurate weather information to individuals, businesses, and researchers. Impressively, in just two years, WeatherXM has set up over 5,000 weather stations in more than 80 countries, with many located in Europe and the United States.
These stations, sold worldwide, connect through WiFi, Helium, and 4G/LTE networks. They cost $400 for WiFi and Helium stations and $900 for 4G/LTE stations.
A key feature of WeatherXM is its token model. Station owners earn $WXM tokens every day as a reward for sharing their weather data; in total, 14,246 tokens are distributed to these contributors daily. Although the $WXM token is not trading yet, it will be available on exchanges like Gate.io, MEXC.com, BitMart.com, and Uniswap v3 starting Thursday, May 30.
WeatherXM stores its data on the InterPlanetary File System (IPFS), a decentralized storage system that lets everyone access data freely. The project plans to sell this data to businesses in sectors such as agriculture, energy, sports, climate modeling, and insurance.
For example, accurate and local weather data can help farmers manage varying needs due to different weather conditions. WeatherXM is also working with universities like Aristotle University in Greece, which bought 20 stations to study urban heat effects.
The project developed an auction mechanism that allows interested parties to bid for the commercial use of their data. There will be four licenses available, with each starting bid set at 100,000 $WXM.
Revenues generated from the sale of licenses and other data sales will be used to buy $WXM from the market. This action is part of WeatherXM’s strategy to support the value of their native token.
The World Meteorological Organization states that:
“highly weather-sensitive sectors such as agriculture, energy, transport and construction, and disaster risk management can benefit by over US $160 billion per year from potential improvements in weather forecasting capabilities that would be within reach given our current state of scientific knowledge and our technology."
It will be interesting to Observe how WeatherXM helps drive these advancements, potentially reshaping key parts of the global weather market.
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