Latest DePIN News

Decentralized physical infrastructure networks, or DePINs, are becoming increasingly prevalent in the blockchain industry. With over 1300 projects in the sector, these networks are leveraging blockchain technology to incentivize users to contribute to various services, such as health data tracking, wireless connectivity, and vehicle data collection. By focusing on demand-led growth, lowering barriers to entry, and leveraging speculation, the next generation of DePINs is building more efficient and effective networks compared to their predecessors.

Undervalued cryptocurrencies are gaining attention with potential for significant growth. Nosana (NOS-USD), a decentralized GPU grid, allows users to share computing power and earn rewards in $NOS tokens, showing a 1,000% increase since March. The Render Network (RNDR-USD) enables GPU owners to rent their computing power for various industries, with a 1,125% rise since July 2022. Ondo (ONDO-USD), a DeFi platform, aims to provide institutional-grade financial services to everyone, with ONDO tokens surging over 300% since the beginning of the year.

Filecoin (FIL) is expanding its reach in the AI space through strategic partnerships, aiming to become a key player in the web3 AI infrastructure. The decentralized data storage network has teamed up with Theoriq to develop smart AI Agents, which will facilitate easier access to data hosted on Filecoin, enhancing autonomy and efficiency. Additionally, a collaboration with Nuklai will establish a decentralized database to support AI and machine learning, with Nuklai utilizing Filecoin's network for data storage through its Lighthouse service. These integrations are part of Filecoin's broader DePIN (Decentralized Physical Infrastructure Networks) narrative, which combines blockchain with real-world assets and infrastructure to create a global decentralized storage system, compensating contributors with FIL tokens. Despite these advancements, Filecoin faces challenges such as scalability, governance, and regulatory compliance, which must be addressed for widespread adoption.

SingularityNET and Filecoin have announced a partnership to integrate decentralized AI and physical infrastructure networks, emphasizing ethical AI development and data provenance. They plan to form an AI ethics working group and use Filecoin's technology to enhance security and support AI data storage. Alchemy Pay has also partnered with Chiliz Chain to allow users to purchase CHZ and fan tokens, aiming to revolutionize fan engagement in sports and entertainment.

SingularityNET, an AI platform developer, and the Filecoin Foundation have announced a partnership to integrate AI and decentralized physical infrastructure networks while maintaining decentralization, AI ethics, and data provenance. The collaboration will establish an AI ethics working group to ensure ethical AI development and deployment. The partnership has objectives across different timelines, including using Filecoin's Lighthouse SDK for metadata storage and integrating Filecoin's technology stack into SingularityNET for improved security and AI-generated data storage infrastructure. In the long term, the collaboration aims to use Filecoin to manage Knowledge Graphs, essential to SingularityNET's Knowledge Layer initiative. Both the ASI token and the Filecoin (FIL) token will be used in the partnership.

Roam, a DePIN project, has reported significant growth in June, with over 464,000 active app users and 333,000 deployed nodes worldwide. The project has achieved over 321.6 million Roam Points for conversion to $ROAM tokens post-TGE. Roam's community engagement is evident through the Roam x OKX Wallet Giveaway event, which attracted over 100,000 participants. The project has also launched on the Solana Mobile dApp store, integrating with the world's most Web3-focused phone, the Saga phone, to provide faster load times and superior connectivity. Roam has partnered with APhone cloud devices and Coral App to enhance WiFi roaming and introduce Roam miners for new connectivity and earning opportunities. MetaBlox Labs, the developer of Roam, has been recognized by the Wireless Broadband Alliance as a Certified Access Network Provider for OpenRoaming™, reflecting Roam's commitment to seamless and secure WiFi access.

Despite skepticism, blockchain technology is being harnessed to empower everyday people through decentralized finance (DeFi) and traditional finance (TradFi) integration. On The Agenda podcast, John Wingate of BankSocial and Azeem Khan of Morph discuss their efforts to bridge the gap between these financial systems. BankSocial, founded by Wingate, aims to create user-centric financial products for credit unions, which are member-owned banks that align with the ethos of decentralized economy. Wingate believes that combining DeFi and TradFi can provide a harmonious platform for regulated financial institutions to access the ownership economy. Meanwhile, Morph, co-founded by Khan, is an Ethereum layer 2 solution focused on 'crypto-for-good activities,' targeting emerging markets and promoting decentralized science. Khan emphasizes the importance of using blockchain to empower people globally, particularly in developing regions where traditional financial systems are less accessible.

Up Mobile, a Web3 smartphone set to launch in 2024, integrates AI and blockchain technology, offering a user experience free from the restrictions imposed by Apple and Google's app stores. Developed by Up Network in collaboration with Movement Labs, the device ensures heightened security and privacy through the Move language, which was initially created by Facebook. With over 10,000 people on the waiting list and plans to distribute 100,000 units by year-end, Up Mobile is poised for rapid adoption. The smartphone's AI capabilities are utilized for creating unique digital identifiers using biometric data without compromising user privacy, and it integrates local language models for daily task assistance. Meanwhile, the Solana Saga, another Web3 smartphone, is set to release its second version in 2024, featuring an integrated crypto-wallet and a 'dApp store' for Web3 applications.

Decentralized physical infrastructure networks, or DePINs, are rapidly expanding in the blockchain industry. With over 1300 projects and growing, DePINs are transforming various sectors by incentivizing individuals to contribute resources and data. From health tracking rings to WiFi hotspots, browser extensions, and vehicle monitoring devices, DePINs offer innovative ways for users to earn rewards while providing valuable services and data. The new generation of DePINs is focusing on demand-led growth, lowering barriers to entry for contributors, leveraging speculation, and maintaining centralized control during the early stages of development. Projects like Spexi, Natix, and 3DOS are examples of how DePINs are evolving to build sustainable and impactful networks. As the DePIN industry continues to mature, we can expect even more innovation and positive real-world impact from these decentralized infrastructure projects.

Decentralized physical infrastructure networks (DePin) are gaining traction with innovative projects in telecommunications, GPUs, and IoT devices. Projects like io.net, Helium, and Akash Network have shown significant fee generation, attracting investors and analysts. Despite token price struggles, the DePin ecosystem thrives on token rewards and network growth, attracting developers and users. Notable projects include Nodle Network with 780,000 devices and Grass with 2 million users, indicating a promising future for DePin despite market fluctuations.