Latest DePIN Funding News

Aethir token (ATH) experiences a 35% surge after being listed on South Korea's top exchanges, Upbit and Bithumb. The token, known for its applications in AI and gaming, solidifies its presence in the market. With a strong market debut and trading incentives, Aethir aims for new highs amidst sector growth. Despite the revenue success and increased open interest, caution is advised as no DePin project has proven long-term viability yet. The surge in open interest and trading volume indicates a volatile market environment for Aethir.

August 2, 2024 - Daylight, a pioneering DePIN (Decentralized Physical Infrastructure Network) project, has secured $9 million in a Series A funding round, as reported by The Block. The investment was led by A16z Crypto, with participation from Framework Ventures, Lattice Fund, Escape Velocity, and Lerer Hippeau. This latest round brings Daylight's total funding to $13 million. IoTeX, a modular ecosystem actively expanding into the DePIN new energy sector, was an early supporter of Daylight, having participated in its seed round in 2022. Daylight operates as a distributed energy protocol, enabling users to connect their energy devices to its dApp and earn rewards. Additionally, users can access the Daylight marketplace to obtain energy upgrades for their homes or buildings, such as solar panels, EV chargers, heat pumps, and water heaters. Last month, IoTeX unveiled its 2.0 strategy, evolving into a modular open platform for DePIN. The company aims to provide comprehensive support to promising projects through its ecosystem fund, accelerator program, and incentive schemes. This support encompasses technical, resource, and capital assistance to facilitate rapid project growth. This investment in Daylight aligns with the growing interest in decentralized infrastructure for sustainable energy solutions. As the DePIN sector continues to expand, projects like Daylight are poised to play a crucial role in the future of distributed energy systems.

Raad Labs, a climate tech company, has secured a $2.25 million funding round to enhance climate data measurement and forecasting. The blockchain-enabled network, led by CoinFund and other investors, monitors weather patterns, greenhouse gas emissions, and soil degradation. Raad Labs aims to provide businesses and governments with high-quality data to prevent climate disasters cost-effectively. With the global forecasting market expected to grow, the company's technology has applications in various sectors, including AI and methane detection.

Meltem Demirors, a prominent figure in the crypto industry, is advocating for the development of Decentralized Physical Infrastructure Networks (DePINs), predicting they will lead to the creation of numerous multi-billion-dollar companies within the crypto space. Demirors, who serves as the Chief Strategy Officer at CoinShares, emphasizes the importance of sensible regulation that supports innovation while aligning with the core values of the crypto ecosystem. She has been instrumental in guiding CoinShares to become a top investment firm in the crypto market, managing billions of assets and pioneering new financial solutions. Demirors also highlights the need for the US to adopt a legal framework that encourages creativity and aligns with the values of the crypto ecosystem, drawing attention to the challenges faced by US entrepreneurs compared to those in countries like China, which has made significant progress in fintech under government oversight.

DePIN 2.0 represents the next phase in Decentralized Physical Infrastructure Networks, promising a world where decentralized networks manage our infrastructure. With a global market value of over $2 billion in 2023, DePINs are gaining recognition and investment, with over $1.5 billion invested in 2024. DePIN 2.0 introduces enhanced smart contracts, improved data security, and AI-driven resource allocation, making it more efficient and scalable than its predecessor. Despite the potential, DePINs face challenges such as technical complexity and market fragmentation, but their ability to address traditional system inefficiencies and offer economic benefits makes them an attractive investment.

Mizzle, a DePIN platform, has received a $1 million investment from tech investor Onextel to enhance its compute and storage platform. The funding will be used to improve platform capabilities, security features, and user experience. Mizzle's technology combines AI-based DevOps, eBPF security, and advanced encryption to offer a secure and efficient decentralized infrastructure solution. The investment is expected to help Mizzle capture a significant share of the growing DePIN market.

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.

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.