In some geographically challenging areas (such as deserts, seas, and forests) where direct connectivity to a terrestrial network is difficult, space communication is the only option. In these remote locations, Internet of Space Things (IoST) applications can also be used successfully. In this paper, the proposed payload for IoST applications demonstrates how an Automatic Identification System (AIS) and a fire detection system can be used effectively. A space mission based on efficient and low-cost communication can use a constellation of nanosatellites to better meet this need. These two applications, which use a constellation of nanosatellites, can provide relevant university-level data in several countries as an effective policy for the transfer of space technology in an educational initiative project. To enhance educational participation and interest in space technology, this paper shares the lessons learned from the project feasibility study based on an in-depth design of a nanosatellite with several analyses (data budget, link budget, power budget, and lifetime estimation). Lastly, this paper highlights by experiments the development and application of a cost-effective sensor node for fire detection and the use of GPS to enable AIS capabilities in the IoST framework.