DePIN Wave Arrives: 12 Decentralized Infrastructure Projects to Watch in 2024-2025

Decentralized Physical Infrastructure (DePIN) is becoming the hottest track in the crypto industry in 2024. This wave has not only attracted billions of dollars in funding but is also redefining our understanding of internet infrastructure.

What exactly is DePIN? Why is it so popular?

The core logic of DePIN is simple: using blockchain + token incentives to decentralize infrastructure power that was traditionally monopolized by large corporations. Traditional data centers, communication networks, and storage systems are controlled by a few giants, but DePIN breaks this situation.

Imagine your idle GPU at home, excess network bandwidth, or even a WiFi hotspot—all can connect to a decentralized network to earn money. That’s the magic of DePIN—everyone can become a participant and beneficiary of the infrastructure.

According to the latest data, by November 2024, the total market cap of the DePIN track has surpassed $3.2 billion, with daily trading volume approaching $300 million. This growth rate is crazy, and it’s no wonder that major investment institutions like VanEck and Borderless Capital are starting to heavily bet on this field. Borderless Capital even launched a $10 billion DePIN dedicated fund in September this year, showing industry optimism about this track.

Core advantages of DePIN

Security + Reliability: No single point of failure risk. Traditional centralized systems crash completely when they go down, but decentralized architecture ensures services never go offline.

Significant Cost Reduction: No middlemen earning margins. Through token incentives, participants directly earn rewards, reducing costs to a fraction of traditional models.

Strong Scalability: From energy to IoT to AI training, DePIN’s application scenarios are expanding rapidly. It’s not just storage and computing but a comprehensive infrastructure overhaul.

Must-see DePIN projects overview

1. Internet Computer (ICP) —— Ambition: Build a global computer

ICP’s mission is simply crazy—using a decentralized node network to completely replace traditional cloud services. No reliance on giants like AWS or Alibaba Cloud, running web applications directly on a public chain.

In 2024, ICP released heavyweight updates like Tokamak, Beryllium, Stellarator, with performance and scalability soaring. The result? ICP’s token price increased by 121% in one year, with a market cap exceeding $430 million.

ICP’s future goal is to integrate AI capabilities and plans for deep collaboration with Solana. If successful, ICP will truly become the “central hub” of Web3 infrastructure.

2. Bittensor (TAO) —— The ultimate fusion of AI + blockchain

Bittensor’s approach is different—it brings machine learning models into a decentralized network. Participants contribute computing power and data, earning TAO tokens in return. Basically, it’s using blockchain incentive mechanisms to cultivate a global AI collaboration ecosystem.

In 2024, TAO became one of the most rapidly growing projects, with an increase of over 152% in one year, and a market cap surpassing $380 million. Bittensor has integrated advanced technologies like Proof of Intelligence, with increasing AI service interactions and collaborations.

3. Render (RENDER) —— GPU computing power sharing platform

Want to do 3D rendering or video processing but lack high-end graphics cards? Render enables idle GPUs worldwide to serve you. Creators can pay with RENDER tokens, and GPU holders earn rewards.

In 2024, Render migrated from Ethereum to Solana, rebranded as RENDER. It saw a 150% increase in one year, with a current market value stable at around $6-7 million (based on latest data). This project is a real productivity tool upgrade for creative workers.

4. Filecoin (FIL) —— The promise of permanent storage

FIL is a pioneer in decentralized storage. Hard drive owners earn by providing storage space, and users pay with FIL tokens for secure and reliable storage services.

Latest data shows FIL at about $1.23, down -3.29% in 24 hours, with a market cap of approximately $899 million. Although the token price fluctuates, the Filecoin Virtual Machine (FVM) has launched new application scenarios, with ecosystem locked-in value exceeding $2 million.

5. The Graph (GRT) —— Guardian of data retrieval

The Graph provides data query services for blockchain applications. Want efficient on-chain data access? GRT has you covered. Indexers, curators, and delegators form an incentive network that ensures data accuracy and timeliness.

Latest market: GRT is at $0.04, down -1.09% in 24 hours, with a market cap of $386 million (down 83.78% over the past year, but the ecosystem continues to expand). The Graph is expanding across multiple chains, supporting Ethereum, Arbitrum, Polygon, and more than ten other chains.

6. Theta Network (THETA) —— Disruptor in video streaming

Traditional video platforms burn money and can’t sustain. Theta uses decentralized edge computing to transform video delivery, and users sharing bandwidth can earn tokens.

Latest data: THETA is at $0.26, down -4.73% in 24 hours, with a market cap of about $259 million (down 89% in a year, but EdgeCloud’s new products are gaining traction). Theta Network has launched EdgeCloud version 2, with version 3 coming soon—a open market connecting customers and edge nodes.

7. Helium (HNT) —— The miracle of IoT wireless networks

Deploying a Helium hotspot can cover IoT devices within a radius of several kilometers and earn HNT. This model has exploded in fields like agriculture, logistics, and environmental monitoring.

Current HNT price is $1.49, down -1.91% in 24 hours, with a market cap of $277 million (down 79.86% in a year). But Helium is now running on Solana, with 5G integration underway. The ambition to cover mobile devices is huge.

8. Arweave (AR) —— Fortress of permanent data

Arweave aims to permanently preserve internet data. Using SPoRA consensus to incentivize miners to continuously store historical data, creating an “internet archive” that never loses data.

Latest data: AR is about $19 (as of mid-November). Arweave’s recent Protocol 2.8 upgrade improved network efficiency and energy consumption. Although market cap is around $124 million, the project’s vision is wild—the goal of permanent storage.

9. JasmyCoin (JASMY) —— Advocate of IoT data sovereignty

Founded by former Sony executives, JASMY aims to give users ownership of their data. Integrating blockchain and IoT to build a data democratization ecosystem.

Latest market: JASMY is at $0.01, down -2.20% in 24 hours, with a market cap of $296 million (a staggering 366% increase over a year, peaking around mid-June). Rumored collaborations with NVIDIA and Ripple are unannounced but market interest remains high.

10. Grass Network (GRASS) —— Idle network monetization

Want to earn from your idle home network? Run a Grass node, and your bandwidth will be used to crawl public network data to train AI models, with tokens flowing into your wallet.

In October 2024, Grass airdropped 1 million tokens to 1.5 million wallets. Currently, GRASS is at $0.30, down -0.82% in 24 hours, with a market cap of $130 million. Since launch, it has surged over 200%, making participation extremely hot.

11. IoTeX (IOTX) —— True integration of IoT and blockchain

IoTeX uses Roll-DPoS consensus to provide a high-throughput, low-latency on-chain environment for IoT devices. Machines can autonomously interact and trade data on IoTeX.

Latest: IOTX is at $0.01, down -1.35% in 24 hours, with a market cap of $67,800 (down 81.61% in a year). But IoTeX 2.0 launched in 2024, introducing DePIN infrastructure modules, with over 230 dApps and 50+ DePIN projects in the ecosystem.

12. Shieldeum (SDM) —— Fortress of Web3 security

Shieldeum applies DePIN ideas to security—building a decentralized security network with professional-grade data center nodes. Covering application hosting, data encryption, threat detection, and more.

In 2024, Shieldeum developed cross-platform applications and received $2 million for node testing. The goal is to build a secure infrastructure for the BNB Layer-2 ecosystem.

What pitfalls does the DePIN track still face?

Technical challenges: Truly integrating physical infrastructure with blockchain is not easy. Security, scalability, and compatibility are major hurdles.

Regulatory ambiguity: DePIN involves both digital and physical worlds, and policies are still being explored by various countries.

Market education: It takes time to get traditional industries to accept decentralized solutions. Cost advantages need to be recognized, and trust needs to be built.

How big is the future?

Market forecasts suggest the DePIN track could reach $3.5 trillion by 2028. What does this mean? The era of fully decentralized infrastructure—from video streaming and content distribution to data storage—is truly coming.

Final words

DePIN is not just a technological revolution but also a redistribution of power. Everyone has the opportunity to become a builder and beneficiary of infrastructure. Despite market fluctuations in 2024, the long-term logic of this track remains rock solid—decentralized, cheaper, and more reliable infrastructure will eventually replace outdated centralized models.

For Gate.io users, paying attention to the development of the DePIN ecosystem might be the key to seizing the next wave of wealth opportunities.