DePIN (decentralized physical infrastructure network) is a rapidly evolving narrative, with the aim of creating a decentralized infrastructure for the physical world through blockchain and token rewards.
DePINsย fall into two categories:
โก PRN (physical resource network) and
โก DRN (digital resource network).
๐๐๐๐ดย incentivize users to employ equipment to provide goods and services in the real world, such as 5G, VPN, and others.
๐๐๐๐ด encourage those who use equipment to create real physical infrastructure networks for digital resources.
Major crypto funds likeย Coinbase,ย Pantera Capital, andย The Spartan Groupย are making a big bet on this narrative in their forecasts for 2024. This view is also held by one of the worldโs biggest funds,ย VanEck.
The market is already packed with projects that are traded on exchanges or those getting ready to issue tokens.
๐ง๐ฟ๐ฎ๐ฑ๐ถ๐ป๐ด ๐ง๐ผ๐ธ๐ฒ๐ป๐
There are several dozen tokens of DePIN projects available in the market. Iโve analyzed the most interesting ones.
Filecoin Foundation (FIL)ย is a direct competitor to giants like AWS and Microsoft Azure. Itโs a decentralized data storage network.
Market Cap: $5.46B.
Token Price: $10.41, down by 95% from its highs and only by 3x from its lows.
Render Networks (RNDR)ย is a leading provider of decentralized rendering solutions based on GPUs.
Market Cap: $4.3B.
Token Price: $11.28, the token is already trading close to its all-time highs.
Helium (HNT)ย is a truly decentralized blockchain network that connects IoT devices. Users receive token rewards for participating in the networkโs operations.
Market Cap: $1.35B.
Token Price: $8.28, down by 84% from its highs and up by 7.874% from its lows.
Arweave (AR)ย is a data storage platform based on the Proof-of-Access protocol that creates scalable storage. It offers low-cost data storage and censorship resistance.
Market Cap: $2.4B.
Token Price: $36.7, down by 60% from its highs, and up by 12.153% from its lows.
๐ฃ๐ผ๐๐ฒ๐ป๐๐ถ๐ฎ๐น ๐๐ถ๐ฟ๐ฑ๐ฟ๐ผ๐ฝ๐
io.netย is a decentralized computing network that enables developing machine learning apps on theย Solanaย blockchain.
Investments: $30M.
PrivaSeaย is a decentralized AI network that uses FHEML.
Investments: $5M.
Gensynย is a marketplace that allows small data centers and devices to provide computing power for machine learning.
Investments: $43M.
Fleekย is a platform that builds websites and applications on IPFS.
Investments: $25M.
๐๐ผ๐ป๐ฐ๐น๐๐๐ถ๐ผ๐ป
The DePIN narrative is at the intersection of blockchain and the real world, and leading financial funds believe in its success. Besides, many projects interact with AI, a pivotal technology of recent years. Itโll undoubtedly play a very important role in blockchain development.
