Franklin Templeton Highlights DePIN Projects in Growing Crypto Sector
Thursday, June 13, 2024 7:10 PM
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Franklin Templeton has recognized two DePIN projects, Hivemapper and Helium, as promising within the $26 billion crypto sector. Both projects operate on the Solana blockchain, chosen for its speed and low costs. Hivemapper, a mapping project akin to Google Maps, has already mapped a fifth of the world’s roads, primarily in the US and Europe, rewarding contributors with its HONEY token. Despite its success in gaining contributors, the project still faces challenges in demand. Helium, valued at $570 million, offers a wireless mobile service with cheaper subscription packages than traditional carriers, having signed up 93,000 subscribers for its unlimited plan. While these projects show potential for disruption, their success is currently tied to token incentives rather than the intrinsic value of their services.
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