DePIN generated $73.8M in revenue over 2025 but look at what happened to the tokens.
➥ YTD 2025, the average DePIN token is down 58.45% while most are down ~90%
➥ Even $TAO, one of the stronger performers is down ~40%+ this year
➥ The infra is being built and real usage is happening but none of that is flowing to token holders
Most DePIN tokenomics are broken. Tokens incentivize network growth but don't capture value from the network's success. The business generates revenue.
DePIN needs better token models. This is one of the few areas where crypto meets real world utility. New DePIN projects haven't launched tokens yet. If they figure out value accrual instead of just incentive distribution, they will set a new standard.

Going on a trek for NYE😁
I feel it will be fixed this year
Revenue grew, but tokens failed to capture value for holders.
Yeah bro wish that will change this year
I think the problem Is related to demand and bad tokenomics.
I feel the people have not realised the potential yet which is why the demand is Low. But If any sector which i feel can get web2 audience it’s going to be around DePIN or DePAI sector
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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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