Key Takeaway:
Decentralized physical infrastructure network market experiencing 296% YoY growth with $246 million raised across 70 deals by Aug. 1, 2024. IoTeX leads in funding. Top DePIN projects showing 400% market cap growth to $20 billion.
Growth in the DePIN Sector
Venture capital firms and investors focused on emerging DePIN projects challenging top platforms like Filecoin, Helium, and The Graph in areas such as decentralized gaming infrastructure and AI data layer.
Top DePIN Funding Deals
IoTeX and peaq secure significant funding rounds in 2024, with IoTeX raising $50 million and peaq securing $30 million in strategic funding led by top VC firms.
Revenue Challenges in the DePIN Sector
Despite funding growth, revenue in the DePIN sector remains low, with only a few projects ranking high in revenue. Centralized platforms dominate with integrated solutions, posing a revenue challenge for DePIN projects.
