Chainfeeds Introduction:
Over the past few months, DePIN has shown early signs of "sharing economy" product-market fit. These projects are spread across various areas of DePIN, each with different use cases. This article explores the current state of DePIN, the problems faced by DePIN projects, and the subsequent development of the industry.
Article Source:
https://ocular.substack.com/p/putting-a-pin-in-it-the-rise-of-decentralized
Article author:
Jomo, NotDegenAmy, Derek
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Ocular: DePIN project venture capital has seen a resurgence this year, with 70 DePIN projects raising a total of $192 million in funding as of April. Major deals include io.net, a Solana-based distributed GPU project, which raised $20 million in a Series A round at a token valuation of $1 billion; and Aethir, a decentralized GPU computing node provider, which raised $65 million in the first hour of node sales. Currently, the total market value of DePIN projects exceeds $54 billion, generating more than $18 million in on-chain revenue per year, with projects such as Filecoin, Flux, Braintrust, and Helium leading the industry, and more than 1,220 projects in the entire ecosystem. According to Messari data, the DePIN industry added more than 600,000 nodes in 2023. Supporting this growth is the support of token holders: the percentage of token locks in successful projects as a percentage of total supply has increased, giving teams more room to incentivize supply or expand into other markets. While traditional DePIN projects have developed sustainable incentive models, we believe new DePIN projects that address less complex and less critical infrastructure can succeed. Hivemapper has created a decentralized way to map the world and has gained good initial traction, with users around the world using their own cameras to map the world. This is a new model that produces better maps at a faster rate by replacing centralized solutions with decentralized solutions. Underdeveloped markets such as Africa and Southeast Asia or conflict zones that lack digital infrastructure will benefit from improved digital infrastructure. Internet prices in Africa are the most expensive in the world, and decentralized models have the opportunity to offer more competitive prices. Southeast Asia has two very large archipelagic countries: the Philippines and Indonesia. Markets like these, with young and tech-savvy populations, will benefit from the more advanced technical and economic solutions that DePIN provides. Looking ahead, we see more room for experimentation with DePIN projects, including zero-knowledge, Memecoin, and increasingly AI. 【Original text in English】
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