IoTeX: Transforming Everyday Machines into Income-Generating Assets
Wednesday, June 4, 2025 12:00 AM
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IoTeX is revolutionizing the way everyday machines, such as solar panels and GPS trackers, can generate passive income by turning them into valuable assets. Co-founder Jing Sun emphasizes that their platform is at the forefront of a new machine economy, where real-world devices connect to Decentralized Physical Infrastructure Networks (DePINs) to yield real financial returns. The vision for IoTeX was inspired by the Ethereum whitepaper, leading to the creation of a Layer 1 blockchain that links device data with AI models and traditional businesses. This innovative approach allows communities to contribute data from devices and earn rewards from AI firms, effectively merging the physical and digital worlds.
The concept of DePIN, which stands for Decentralized Physical Infrastructure Networks, is emerging as a promising real-world application of cryptocurrency. Sun describes it as “MachineFi,” which refers to the financialization of machine data and resources. DePIN projects aim to crowdsource infrastructure that has traditionally been managed by governments or large corporations, providing coverage to underserved regions. Existing projects on IoTeX, such as GEODNET for GPS, Glow for solar energy, and Wingbits for flight tracking, are already operational and generating revenue, demonstrating the societal benefits of this model.
IoTeX’s machine economy is accessible to everyone, allowing individuals to purchase and operate devices that collect data and sell it to networks in exchange for tokens. This model offers a form of basic income, empowering users to become operators of a diverse machine network. Traditional investors are also taking note, as DePIN’s clear business model and revenue structures make it an attractive opportunity. With over 100 DePIN projects and a total locked value of $2.7 billion, IoTeX is poised to attract traditional investment into the crypto space. Looking ahead, the company aims to support the next generation of AI agents and smart devices, positioning itself as a leader in the integration of blockchain technology with everyday machines.
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