According to Messari and Depin.Ninjia data, the DePIN ecosystem has grown to more than 650 projects in 2023, with a market value of $35B, covering six sub-industries: computing (250), artificial intelligence (200), wireless (100), sensors (50), energy (50) and services (25). Messari predicts that the total potential market size of the DePIN sector is about 2.2 trillion US dollars, and it may reach 3.5 trillion US dollars by 2028.

According to CMC data, there are 60 DePIN projects that have issued coins, with a market value of 1.33 billion US dollars. The top 100 DePIN projects in terms of market value are FIL, RNDR, HNT, THETA, BTT, AKT and AR. The top projects in other tracks include IOTX, ANKR, and AI-related projects such as TAO.

Judging from the top 10 projects in the DePIN field, most of them belong to the fields of AI, Storage and Computing. DePIN currently accounts for a very small share of the entire Crypto market, which is lower than Meme, Defi, NFT and other sectors. If compared with the 21 projects with a market value of over 100 million in the traditional Internet of Things industry, there are only 4 projects with a market value of over 1 billion.

If we infer based on this data, then in the short and medium term, the potential profit expectation of entering DePIN is about 243 times, while the medium and long-term profit expectation is more than 400 times.

Here is the reference to the sector decomposition method of IOTEX, which is divided into two parts: software and hardware. The hardware part has two major sectors, sensors and wireless networks, and the software part has four sectors, namely, computing, storage, network distribution, and artificial intelligence. Depin track branch diagram Although the DePIN project is called — decentralized physical infrastructure network, all core business logic revolves around how to obtain value from data.

Sensors — responsible for data collection Wireless networks and network distribution — responsible for data transmission Computing — responsible for data calculation Storage — responsible for data storage Artificial intelligence — responsible for data application, So, the DePIN project itself starts with hardware, but the real development lies in how to apply data well, which is the same as the development model of the traditional Internet economy.

When evaluating the prospects of a DePIN project, we must think from the perspective of data. Whoever uses the data well and whoever masters the data is a good project. We must put aside the speculative part of Crypto and return to the pragmatic value part.

Investors in DePIN As mentioned earlier, there have always been investment institutions and entrepreneurs in the DePIN track, but the market environment in early 2023 is not suitable, and the new paradigm of DePIN is still being explored, so there are few new DePIN projects.

By the end of 2023, whether it is the improvement of the market environment or the exploration and accumulation of entrepreneurs, many projects have gradually taken shape from the initial concept, and then began to be launched into the market one after another. The subsequent actions were captured by the market. At this time, DePIN quickly occupied an important position in the market with weak technological innovation.

For example, VCs such as Multicoin, Borderless, A16Z, and HTX Ventures have a lot of layouts in DePIN, and the projects they invest in are very practical and have very weak speculative attributes. Of course, compared with their own portfolios, DePIN projects only account for a small part

According to Messari and Depin.Ninjia data, the DePIN ecosystem has grown to more than 650 projects in 2023, with a market value of $35B, covering six sub-industries: computing (250), artificial intelligence (200), wireless (100), sensors (50), energy (50) and services (25). Messari predicts that the total potential market size of the DePIN sector is about 2.2 trillion US dollars, and it may reach 3.5 trillion US dollars by 2028.

According to CMC data, there are 60 DePIN projects that have issued coins, with a market value of 1.33 billion US dollars. The top 100 DePIN projects in terms of market value are FIL, RNDR, HNT, THETA, BTT, AKT and AR. The top projects in other tracks include IOTX, ANKR, and AI-related projects such as TAO.

Judging from the top 10 projects in the DePIN field, most of them belong to the fields of AI, Storage and Computing. DePIN currently accounts for a very small share of the entire Crypto market, which is lower than Meme, Defi, NFT and other sectors. If compared with the 21 projects with a market value of over 100 million in the traditional Internet of Things industry, there are only 4 projects with a market value of over 1 billion.

If we infer based on this data, then in the short and medium term, the potential profit expectation of entering DePIN is about 243 times, while the medium and long-term profit expectation is more than 400 times.

Here is the reference to the sector decomposition method of IOTEX, which is divided into two parts: software and hardware. The hardware part has two major sectors, sensors and wireless networks, and the software part has four sectors, namely, computing, storage, network distribution, and artificial intelligence. Depin track branch diagram Although the DePIN project is called — decentralized physical infrastructure network, all core business logic revolves around how to obtain value from data.

Sensors — responsible for data collection Wireless networks and network distribution — responsible for data transmission Computing — responsible for data calculation Storage — responsible for data storage Artificial intelligence — responsible for data application, So, the DePIN project itself starts with hardware, but the real development lies in how to apply data well, which is the same as the development model of the traditional Internet economy.

When evaluating the prospects of a DePIN project, we must think from the perspective of data. Whoever uses the data well and whoever masters the data is a good project. We must put aside the speculative part of Crypto and return to the pragmatic value part.

Investors in DePIN As mentioned earlier, there have always been investment institutions and entrepreneurs in the DePIN track, but the market environment in early 2023 is not suitable, and the new paradigm of DePIN is still being explored, so there are few new DePIN projects.

By the end of 2023, whether it is the improvement of the market environment or the exploration and accumulation of entrepreneurs, many projects have gradually taken shape from the initial concept, and then began to be launched into the market one after another. The subsequent actions were captured by the market. At this time, DePIN quickly occupied an important position in the market with weak technological innovation.

For example, VCs such as Multicoin, Borderless, A16Z, and HTX Ventures have a lot of layouts in DePIN, and the projects they invest in are very practical and have very weak speculative attributes. Of course, compared with their own portfolios, DePIN projects only account for a small part