IOTA (MIOTA), announced early this month that it was partnering with Nordic Semiconductors to explore the potential of combining their technologies, the Nordic Thingy:52 and IOTA Data marketplace. The partnership also involves the Norwegian Science and Technology University (NTNU) in Trondheim which has a long history of partnership with the fabless semiconductor company.

IOTA Foundation works with Nordic Semiconductor and NTNU to explore and unleash the potential of combining The Nordic Thingy:52 and IOTA https://t.co/2K6y6C9fBR#IOTA #NordicSemiconductor #NTNU — IOTA (@iotatoken) June 1, 2018

Benefits of partnership with Nordic Semiconductors and NTNU University

It is expected that the partnership with Nordic Semiconductors will unearth real applications of IOTA and aid its development. According to IOTA’s head of business development Wilfried Pimenta, “the partnership won’t just be a temporary boost to the cryptocurrency’s price […] it’ll have a long-term impact on the overall development of IOTA itself by increasing overall adoption of the platform”

In a blog post about the partnership, Nordic Semiconductors said that it worked with students from the university to integrate the Nordic Thingy:52 on the Data marketplace.

In a business case, it illustrated a company which needs to collect air quality data and sells to customers which may include scientists, local authorities, and news agencies. The company can use The Nordic Thingy: 52, which is a multi-purpose sensor dev kit, to collect the data and host on IOTA data marketplace where it can be accessed using MIOTA tokens.

Before this partnership, IOTA recently partnered with DNB ASA, one of the top financial service providers in Norway. Nordic Semiconductors is one of the key players in the innovation of wireless and portable electronics while NTNU is one of the best IT institutions.

IOTA (MIOTA) Price Watch

MIOTA is currently trading $1.39 on downward trend f that start at the new month when it was $1.9. The market cap is also down to $4.5 billion from 5,368,130,000 on 2nd June. The coin had increased by 5 percent to $1.7 following the announcement of IOTA’s collaboration with Nordic Semiconductors and NTNU.

IOTA (MIOTA) only regained its 9th spot recently from Tron (TRX) which overtook it in market cap after launching its mainnet. It will be interesting to watch how these latest collaborations boost the price and market cap of MIOTA. The company hopes that the price reaches $5 by the end of the year—that is 3 times its current price.