What’s New in DePin? VanEck Invests in DAWN, IoTeX Blockchain Association, And More

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As a seasoned analyst with over two decades of experience in the tech and finance sectors, I’ve witnessed the evolution of technology from the dial-up era to the current decentralized revolution. The recent developments in Decentralized Physical Infrastructure Networks (DePin) have caught my attention, and I believe they are set to disrupt traditional infrastructure models significantly.

Decentralized Physical Infrastructure Networks, or DePin for short, are revolutionizing technology by providing a platform for decentralized initiatives to build and manage real-world infrastructure.

In the DePin sector, here are some recent developments:

VanEck Invests in DAWN

In the initial announcement, investment firm VanEck has put money into DAWN, a project under DePin Development. DAWN refers to Decentralized Autonomous Wireless Networks, and their goal is to establish a decentralized wireless service provider. According to a post on social media from VanEck, this “AirBnB-style internet” concept may challenge traditional Internet Service Providers (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

In a recent development, AI GPU tokenization startup Exabits has secured $15 million in seed funding. On social platforms, the company announced this funding round. With this fresh injection of capital, Exabits now boasts a valuation of $150 million and a remarkable 300% growth in quarterly revenue.

GPUs play an essential role within the DePin AI environment, given the enormous computational demands associated with artificial intelligence studies. Recently, Aethir, a provider of GPU services on-demand, has entered into significant collaborations to explore various segments of this field. Meanwhile, Exabits presents a unique concept that is proving intriguing at present.

IoTeX Joins Blockchain Association

IoTeX, a company specializing in building modular infrastructure for DePin, is venturing down an uncommon path within this sector: they’re aiming for more accommodating regulations. In a blog post, the company explained their reasoning behind joining the Blockchain Association, a group that advocates for cryptocurrency. They also shared updates from the “DePin Working Group” at a recent policy meeting.

Building a prosperous Decentralized Privacy-by-Design Internet (DePIN) ecosystem requires working hand in hand with policymakers. By becoming part of the Blockchain Association, IoTeX is paving the way for DePIN projects to get off the ground. With our combined efforts, we can fully unleash the power of decentralized infrastructure under the supervision of clear regulations, as stated by Raullen Chai, CEO and Co-Founder of IoTeX.

This policy working group was comprised not only by its members, but also heads from DeFi platforms such as Hedera and Helium, who are associated with Solana’s infrastructure sector. The influence of lobbying groups in the wider crypto/Web3 community has been on the rise, having significantly impacted recent U.S. elections. By becoming part of this advocacy effort, IoTeX is further propelling DeFi innovation.

Karrier One Launches WiFi Hotspots

Career One unveiled its line of decentralized WiFi hotspot gadgets, leveraging the SUI network to bolster Depin Internet connectivity. Those who offer WiFi load-sharing services to multiple service providers can receive KONE tokens as compensation. In honor of the debut, the company is also running a contest where 300 hotspot devices will be given away.

As an analyst, I’d rephrase it like this: “In a period where conventional telecom service providers are finding it challenging to meet the escalating demand, Karrier One is capitalizing on Sui’s technology to increase capacity and extend coverage to regions that have been historically under-served,” according to Jameel Khalfan, the Head of Ecosystem Development at Sui Foundation.

The company asserted that a tight partnership with Sui was essential for the project’s triumph, requiring more assistance than usual. Yet, by leveraging these resources, Karrier One aspires to facilitate DePin WiFi access via Sui’s blockchain network.

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2024-12-17 08:48