DePIN has existed for a few market cycles, with early successes in digital infrastructure networks like Helium and Golem. Now, half a decade later, it is taking off, as seen by a surge in product launches and new DePIN-dedicated funds. Outlier Ventures’ Jasper De Maere, asks: Why now?
The first wave of DePIN initiatives, around 2019, focused on digital infrastructure, but now we're seeing other types of networks emerging (DePIN stands for decentralized physical infrastructure networks). Projects centered on data or service networks are becoming more common. Ultimately, I classify DePINs as those that 1) use blockchain-based, decentralized coordination to operate infrastructure and 2) rely on or impact physical infrastructure like servers, sensors, or property.
Before moving on to the drivers, we need to understand that DePIN projects are almost always made up of two-sided marketplaces. These marketplaces have a demand and supply side.
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