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Yup this is a16z's modus operandi the last few years. Basically crypto grifters.
It seems unlikely that they actually sold, given typical VC lockups. Is there evidence that they did?
Helium would perhaps be one of the coolest things ever, if they would drop the dang cryptocurrency.

Does Sidewalk or Tile need it? Nope. The bandwidth is small. You run a node for personal use that happens to serve others. And it clearly works.

The server power needed is relatively small. Especially if heirarchal small community run servers are a thing. It could easily be donation or hardware sales funded.

It could even run on a distributed hash table and not need servers.

All we need is an open source, 2 way version of Tile that has more transports than Bluetooth. Everything is already in place for Helium to be amazing.

Helium without cryptocurrency is TTN/"The Things network"