MyBit, a blockchain-based platform for investing in connected devices, has inked a deal with Prague-based smart furniture manufacturer Ability Concept. The collaboration marks a major milestone as the
MyBit, a blockchain-based platform for investing in connected devices, has inked a deal with Prague-based smart furniture manufacturer Ability Concept. The collaboration marks a major milestone as the Swiss startup prepares to roll out MYDAX, what it describes as the first decentralized trading venue for assets within the emerging machine economy.
MyBit's model allows investors of all sizes to acquire stakes in income-producing connected infrastructure—from autonomous trucks and robotics to cryptocurrency mining operations, smart buildings, and unmanned aerial systems. The sector's growth trajectory is staggering. Ian Worrall, MyBit's founder and chief executive, noted that the IoT space will support roughly 50 billion active devices generating roughly $11 trillion annually by mid-century. The nearer-term opportunity is equally compelling: annual industry revenues are forecast to approach $9.5 trillion by 2030.
Joost Toornend, the company's marketing chief, framed the broader context for MiningPool: "Automation will materially impact three in ten jobs within the next dozen years." This shift underscores MyBit's value proposition—providing ordinary people entry into an asset class poised to reshape economies.
This partnership represents MyBit's second such collaboration. In December, the firm partnered with Dubai-based Arabco, a smart technology integrator with governmental backing and a mandate to deploy internet-connected furniture across the emirate as part of its Smart City Initiative, championed by His Highness Sheikh Mohammed bin Rashid Al Maktoum. The geographic strategy is deliberate: Central Europe and the Middle East represent the planet's two dominant markets for intelligent street furniture.
Municipal authorities worldwide increasingly pursue smart infrastructure that incorporates renewable energy systems, integrated charging networks, and wireless connectivity. For MyBit's investor base, the timing aligns perfectly. Ability Concept's benches are proliferating across European municipalities, creating fractional ownership opportunities. Subscribers pay for WiFi; advertisers purchase display space. Smart contracts on Ethereum automatically allocate these revenues to the asset owners.
"This partnership exemplifies the shift toward decentralized ownership models," MyBit stated, emphasizing how the approach democratizes wealth generation traditionally gatekept by financial intermediaries. MYDAX aims to reshape investor expectations entirely. Beginning this fall, users will access a private testing phase, transitioning to public availability in the final quarter. Once live, the platform will permit instantaneous trading in IoT asset shares—what typically required weeks or months now happens in seconds. The fee structure is transformative: a single percentage point versus the 20 to 30 percent charges extracted by conventional asset managers.
Ashley Halladay, MyBit's head of user experience, told MiningPool the team prioritized accessibility. "We're adopting familiar elements from crypto exchanges and decentralized applications but moving the technical complexity behind the interface," Halladay explained. "The goal is to make sophisticated investing genuinely intuitive."
