Decentralized Physical Infrastructure Networks (DePin) are transforming the tech by enabling decentralized projects in real-world infrastructure.
Here’s what happened in the DePin sector recently: VanEck invested $2.5 million into DAWN to provide decentralized wireless service, IoTeX joined the Blockchain Association for DePin political advocacy, Exabits received $15 million in seed funding, and more.
VanEck Invests in DAWN
In the first piece of news, VanEck invested in DAWN, a DePin Project. DAWN stands for Decentralized Autonomous Wireless Networks, and the firm is attempting to create a DePin wireless service provider. According to a social media post from VanEck, this “AirBnB for internet” approach has the potential to compete with traditional ISPs:
“While internet usage has exploded, the infrastructure delivering it has been constrained by legacy models that strugle to keep pace with modern demands. In the US alone, over 80 million Americans only have one option for high-speed Internet, creating local monopolies with little incentive to innovate,” VanEck claimed.
VanEck invested $2.5 million into this project. This represents a rare DePin investment for the firm; it has funded crypto and AI startups and is a major ETF issuer, but it does not have a strong DePin presence. At no point in its social media announcement did the firm imply or directly state that it would ramp up its presence in the sector.
Exabits Receives $15 Million Seed Funding
Exabits, an AI GPU tokenization startup, recently received $15 million in seed funding. The firm, which uses tokens to represent fractional ownership of GPU compute resources, described this funding round on social media. With this new funding, Exabits boasts $150 million in valuation, and a 300% quarterly revenue increase.
Exabits Seed Funding from Hack VC. Source: ICO Analytics
GPUs are a crucial component of the DePin AI ecosystem, as the computing requirements for AI research can be astronomical. Aethir, a “GPU-as-a-service” company, has recently engaged in several massive partnerships to research different subsectors of the field. Exabits is offering a different vision, however, that is currently showing promise.
IoTeX Joins Blockchain Association
IoTex, which makes DePin modular infrastructure, is taking an unusual direction for this space: pursuing friendlier regulations. The firm described its efforts in a blog post detailing its motives for joining the Blockchain Association, a crypto advocacy group. It also provided a series of updates from the “DePin Working Group” at a recent policy summit.
“Collaboration with policymakers is the cornerstone of building a thriving DePIN… ecosystem. By joining Blockchain Association, IoTeX is [creating] clear pathways for DePIN projects to launch. Together, we can unlock the full potential of decentralized infrastructure… under the guidance of clear regulation,” said Raullen Chai, CEO and Co-Founder of IoTeX.
This policy working group also included DePin leaders like Hedera and Helium, a Solana-based infrastructure firm. Political lobbying groups are growing in the broader crypto/Web3 scene, as they played an influential role in the last US election. By joining this type of advocacy movement, IoTeX is contributing to further DePin innovation.
Karrier One Launches WiFi Hotspots
Karrier One launched its decentralized WiFi hotspot devices, using the SUI network to contribute to DePin Internet access. Users who provide WiFi offloading services to various carriers can earn the protocol’s KONE tokens in return. To celebrate the launch, the firm is also hosting a giveaway of 300 hotspot devices.
“At a time when traditional telecom providers are struggling to keep pace with growing demand, Karrier One is leveraging Sui’s technology to add much-needed capacity and expand access to underserved areas,” said Jameel Khalfan, Head of Ecosystem Development for Sui Foundation.
The firm claimed that close collaboration with Sui was critical for this project’s success, involving greater support than their standard relationship. However, thanks to these resources, Karrier One hopes to enable DePin WiFi access through Sui’s blockchain.
