Top 11 DePIN Projects to Keep an Eye on in 2024
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Authors: Bybit Learn Team, Miles Deutscher (Crypto analyst and DeFi addict)
Popular crypto niches like artificial intelligence (AI) and real-world assets (RWA) enjoy significant attention from investors and industry analysts. However, upon closer scrutiny, many projects within these areas are propped up primarily by hype, and often lack profitability. On the other hand, away from the glitz and glamor of the crypto market's center stage, one niche has firmly established itself as a model of profitability: DePIN, an acronym for decentralized physical infrastructure network.
DePIN platforms facilitate the decentralized sharing and utilization of hardware and software resources among users. Numerous computing infrastructure sectors, such as storage, processing power, AI services and media streaming, use DePIN platforms to achieve benefits such as exceptional scalability, cost-efficiency and service variety. With a projected valuation of at least $3.5 trillion by 2028, the DePIN niche of the crypto market is worth keeping an eye on.
Key Takeaways:
Decentralized physical infrastructure network (DePIN) platforms provide access to and enable the trade of hardware and software resources over blockchain networks.
Major DePIN categories include storage solutions, computing, network connectivity and media provision.
DePIN is a burgeoning sector with $1.5 trillion in annual revenues, and is forecast to reach $3.5 trillion in valuation by 2028.