Decentralized Physical Infrastructure Networks (DePINs) leverage the blockchain to create interconnected hardware networks. Resource providers are rewarded in crypto for their contributions, while clients benefit from enhanced scalability, security, and reduced costs.
A Messari State of DePIN report indicates that the number of DePIN projects has risen 12x from less than 100 in 2022 to 1,170 in 2024, while revenue has increased by 33x in 2024. The report also indicates that local governments are evaluating DePINs to tackle infrastructure challenges. These statistics highlight how quickly the sector is gaining traction and that it is worth watching.
A separate Messari report predicted the DePIN sector will grow 59% to a value of $3.5 trillion by 2028. As such, it’s clear that DePINs will play a big part in our future. But what are some emerging DePIN projects worth keeping an eye on? We’ll answer that question below.
A Step Back: What Is DePIN in Crypto?
A Decentralized Physical Infrastructure Network or DePIN is a concept in cryptocurrency where the blockchain is utilized to decentralize control and ownership of real-world physical infrastructure like storage devices, Graphics Processing Units (GPUs), and other computer hardware.
Instead of a central authority or institution being responsible for decision-making, acquiring the hardware, and running the network, a DePIN democratizes ownership across all participants, weighted based on their contribution. People who contribute more resources to the network earn a larger share of the rewards and typically gain increased voting power on proposals over less significant contributors.
Outside of rewarding contributors with crypto, DePIN networks boast many other benefits. The blockchain is immutable and transparent, so all contributions are verifiable, and people can audit it straightforwardly. DePINs also save on initial hardware (and upgrade) costs by pooling resources across a network. Similarly, DePINs reduce costs as intermediaries are removed from the process, enhancing efficiency.
Examples of established DePIN projects include Filecoin, a peer-to-peer data storage system, and Helium, a decentralized wireless network that sees people install custom networking hardware to earn rewards.
5 DePIN Projects to Have On Your Radar
Now that we understand what a DePIN is, let’s explore a few projects that leverage the technology.
1. NodeOps Network – DePIN Orchestrator Layer with 58,000+ Nodes
NodeOps Network is a rapidly growing DePIN orchestrator (handling coordination and resource allocation). Its NodeOps Console is a Node-as-a-Service (NaaS) solution, while the Cloud Marketplace is a DePIN marketplace. The project provides a streamlined way for developers to hire computational nodes that they can use to operate key aspects of decentralized applications (dApps), like storage or validation.
NodeOps leverages Autonomous Verifiable Services (AVS) to enhance security, providing a secure ecosystem for projects to operate. NodeOps has been designed to support most blockchains, ranging from well-known options like Solana and Arbitrum to lesser-known alternatives like Avail and KIP, making NodeOps an extremely versatile solution for running dApps.
NodeOps recently rebranded its Atlas Network testnet to NodeOps Network to help fuel its expansion strategy. The testnet had over 300,000 verified users and 3.44 million registered wallets, highlighting demand for the project. On February 12th, NodeOps shared a key milestone: the project took fourth place on the DePIN.Ninja revenue leaderboard, ahead of leading DePIN solutions in the space, which positions NodeOps as an interesting blockchain infrastructure company to keep an eye on.
Why NodeOps Is Worth Watching
While the NodeOps mainnet and token generation event are coming soon, the project is already outperforming some established DePIN projects in terms of revenue. It supports 80+ blockchains and, according to Dune, has 60,000+ monthly active users. Unlike most crypto companies, which rely on launching a token to survive, NodeOps has proven itself to be a viable business on its own, which will only be enhanced by releasing a token.
2. Render Network – DePIN Video Rendering Solution
The Render Network is an innovative project building an expansive network of GPU hardware. People can contribute their unused hardware to earn rewards or leverage the Render Network to have complex graphics or visual effects rendered at a fraction of the hardware costs.
A significant benefit of using the Render Network is that it facilitates seamless creative workflows via plugins for leading 3D applications like Cinema 4D and Blender. This enables people to submit jobs without leaving their creative software. The network also offers cost-effective pricing tiers. Priority projects can be processed for €0.50 per 200 OBH (equal to one hour of processing on an RTX 2070), while the economy tier is cheaper at just €0.25.
The team behind the Render Network is constantly working to improve the project. They’ve recently released a differential upload feature enabling people to alter lighting and materials without re-uploading assets. Moreover, the project is hosting the annual RenderCon on April 15th, which could see new updates or services unveiled.
Why Render Is Worth Watching
While the Render Network is one of the most established DePIN crypto projects, creators are just discovering its value. The network recently crossed a milestone of 46 million frames rendered, or roughly 200-400 hours of video. With the team working to integrate Render into creative software, it could become a go-to method for fast, on-demand rendering, making the asset worth watching as it grows in popularity.
3. Akash Network – A Pioneering Cloud Computing Marketplace
The Akash Network is a DePIN marketplace that enables people to securely and efficiently buy and sell computing resources. The platform is trustless, meaning people can operate entirely independently. In addition to providing computational resources, Akask Network facilitates the deployment of projects via Akash Console.
Like most DePIN projects, the Akash Network cuts out intermediaries, which eliminates any single point of failure and enhances resilience compared to centralized cloud resource providers. The project also offers a price comparison tool that lets people estimate the cost of their project on Akash versus platforms like AWS, indicating an average saving of around 30%.
The Akash Network has been at the center of several exciting events in recent months. The project launched is currently undergoing a v2.0 upgrade, which enhances performance and scalability. Akash Network recently released DeepSeek R1 support, letting people host their own AI models. The project was also featured in a Grayscale report, highlighting the exponential growth of its fee revenue.
Why Akash Is Worth Watching
Demand for Akash’s services is ramping up quickly, as evidenced by Grayscale’s findings. Since October 2024, the project has more than tripled its fee revenue and GPU leases. With partnerships, network upgrades, and support for new features being constantly developed, it’s worth keeping an eye on the Akash Network in 2025.
4. Io.net – Providing On-Demand GPU Access
Io.net is a DePIN project focused on decentralizing access to GPUs. It was built on the Solana network to take advantage of its low fees and fast settlement times. The project lets people contribute their unused GPU resources to earn rewards while giving creators access to cheap GPU processing power, which can be used to train machine learning models, among other purposes.
The primary benefits of Io.net center around scalability and cost-effectiveness. The project uses market-driven pricing to lower costs and provides on-demand resource access, ensuring applications can scale as needed. The project is highly versatile. The IO Intelligence (launched February 12th) segment enables people to integrate AI into their projects, IO Cloud handles GPU resource allocation, and IO Worker lets users rent out unused resources.
Io.net raised around $30 million in 2024 with the goal of building an ‘internet of GPUs.’ More recently, the project announced some of its January 2025 statistics. It delivered 7.1 million compute hours, up from 5 million in December. The project also recently partnered with Injective, Nillion Network, and QUAI Network in an effort to expand its use case.
Why Io.net Is Worth Watching
Io.net is a relatively new project, but it’s gaining traction quickly. With it posting solid growth statistics and consistently adding to its list of 80+ partnerships, it could be a good idea to follow Io.net and see how it develops over the coming months.
5. Storj – Alternative Decentralized Storage System
Storj is a decentralized GPU cloud network and file storage system competing with projects like Filecoin. It’s built on the Ethereum network and lets people earn rewards for contributing unused GPU and storage resources. Similarly, businesses can leverage Storj to access low-cost storage and scalable GPU processing power.
According to the Storj site, the project can lower cloud costs by up to 90% while reducing carbon emissions by 83%, enhancing sustainability while securing cost savings. Storj also enhances privacy and security by encrypting data and distributing it across a network, eliminating any single point of failure and the possibility of losing important data.
Storj recently attended the Gartner IT Infrastructure, Operations & Cloud Strategies Conference and announced that it increased annual recurring revenue by 7x throughout 2024, posting an average monthly growth rate of 20%.
Why Storj Is Worth Watching
Storj has posted excellent 2024 growth statistics, indicating that demand for its services is ramping up significantly. The project is also steadily expanding its offerings, adding solutions like its GPU network. Storj can be used as a drop-in AWS S3 replacement, which could drive demand as businesses switch services to benefit from its cost savings.
Final Thoughts
Demand for Decentralized Physical Infrastructure Networks (DePINs) is growing rapidly. They enable physical hardware infrastructure to be distributed across a global network, combating centralization, improving privacy, and eliminating any single points of failure.
DePINs offer many benefits compared to traditional systems. They eliminate intermediaries, improve set-up speed, and reduce costs. They also incentivize people to contribute their unused resources to earn rewards, enhancing the user experience. Moreover, they offer transparency, ensuring people are fairly rewarded for their efforts and enhancing accountability in the space.
There is no single best DePIN project to have on your radar. Each has different goals and operates in a unique way. That said, the best DePINs share a few characteristics: strong growth statistics, an innovative approach, and flexible services tailored to individuals and businesses.
