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

Market Explosion: Why Is DePIN Becoming the New Favorite in the Crypto World?

When talking about the new hot spots in the crypto market, DePIN (Decentralized Physical Infrastructure Networks) cannot be overlooked. This concept sounds a bit complex, but in reality, it’s easy to understand: it’s about using blockchain technology to connect physical hardware scattered around the globe, forming a decentralized infrastructure network.

Market data speaks the loudest. As of November 2024, the total market capitalization of the entire DePIN sector has surpassed $32 billion, with a 24-hour trading volume approaching $3 billion. This is no small number—it clearly shows how enthusiastic the market is about this direction.

Major players in the investment community are also placing bets. Well-known asset management firms like VanEck are focusing heavily on this field, believing that DePIN is key to attracting the next billion users into Web3. Even more, professional investment fund Borderless Capital took direct action, launching a $100 million DePIN Fund III in September 2024, dedicated to supporting the rapid expansion of DePIN projects worldwide.

What Exactly Is DePIN? Why Is It So Important?

Simply put, DePIN combines physical infrastructure (energy networks, wireless networks, data storage, etc.) with digital blockchain technology. Traditional infrastructure is monopolized by large corporations, with high costs, low efficiency, and vulnerability to single points of failure. DePIN’s approach is different—it allows ordinary people to participate, contribute their hardware resources, and earn tokens as rewards.

This model has several core advantages:

Stronger Security and Reliability. Without a central control point, even if a node fails, the entire network won’t be paralyzed. In contrast, traditional infrastructure can suffer service interruptions from a single data center failure.

Significant Cost Reduction. The distributed architecture lowers the costs of building and maintaining infrastructure, and these savings ultimately benefit users and participants.

Everyone Can Participate. You don’t need to be a large enterprise; as long as you have idle hardware resources (servers, GPUs, storage space, network bandwidth, etc.), you can join the network and earn income. This truly democratizes the ecosystem.

Real-world examples make this clear. Helium Mobile now has over 335,000 users. Meson Network is even more impressive, with over 59,000 contributing nodes worldwide. These figures prove that DePIN is not just a technical concept but is actively changing how operations are conducted.

Hardware Decentralization: The Foundation of DePIN’s Success

The reason DePIN works is because hardware decentralization is key. In traditional networks, all servers, antennas, and storage devices are concentrated in the hands of a few large companies. DePIN disperses this hardware, maintained and operated by thousands of independent participants.

The benefits are obvious: no single point of failure risk, and the network becomes more democratic. Ordinary people contribute resources and receive rewards, fostering a more cohesive community.

Why Are These 12 Projects Worth Watching?

1. Internet Computer (ICP): The Dream of a Global Computer

ICP, developed by the DFINITY Foundation, aims ambitiously—to create a “world computer.” It allows developers to deploy web applications directly on a public blockchain without relying on traditional cloud providers.

Rather than calling ICP a DePIN, it’s better to see it as the foundational layer of DePIN. It replaces cloud service giants like Amazon and Microsoft with a globally distributed data center network.

2024 has been a bumper year for ICP. Upgrades like Tokamak, Beryllium, and Stellarator significantly improved network performance. As of December 26, ICP’s price is $2.99, with a circulating market cap of $1.63 billion, but it has experienced a -73.29% change over the past year. This reflects broader market adjustments rather than project failure.

Looking ahead to 2025, ICP plans to further integrate AI capabilities and achieve deeper interoperability with other chains like Solana.

2. Bittensor (TAO): Pioneering AI Democratization

If ICP represents the decentralization of computing resources, Bittensor stands for the democratization of AI computing resources.

TAO is an open protocol that combines blockchain and artificial intelligence. Participants can contribute their AI models or computing power and earn TAO tokens based on the quality of the information provided. It effectively creates a peer-to-peer AI marketplace.

In 2024, Bittensor integrated advanced technologies like Proof of Intelligence and distributed Mixture of Experts, enabling exchange and collaboration among AI services. Currently, TAO’s circulating market cap is $2.08 billion, with a -56.67% change over the past year.

Looking ahead to 2025, the TAO team plans to continue optimizing its decentralized machine learning protocol and explore new industry applications.

3. Render Network (RENDER): The Gold Mine of GPU Computing Power

Imagine how many computers worldwide have idle GPUs most of the time. Render aims to utilize this idle GPU computing power.

Content creators need GPUs for rendering (3D images, videos, VR content, etc.), and Render acts as an intermediary connecting demand and supply. It benefits both sides: creators reduce costs, and GPU owners increase income.

In 2024, Render achieved a major milestone—migrating from Ethereum to the Solana chain and completing the token swap from rndr to RENDER. This greatly improved transaction speed and scalability. The current market cap data needs the latest update.

Starting in 2025, Render plans to further develop infrastructure and promote applications in film, gaming, virtual reality, and other industries.

4. Filecoin (FIL): The Pioneer of Storage Networks

Filecoin turns data storage into an open market. Traditional cloud storage is monopolized by giants like Amazon and Google, but Filecoin allows anyone to rent out their hard drive space to store others’ data.

In 2024, FIL launched the Virtual Machine FVM, opening up programmable capabilities of the network. Developers can deploy Ethereum-compatible smart contracts and create their own applications. This pushed TVL (Total Value Locked) over $200 million.

As of December 26, FIL’s price is $1.23, with a market cap of $899 million, and a 24-hour change of -3.29%.

In its planned developments, Filecoin aims to further expand FVM’s programming features and involve more developers.

5. Shieldeum (SDM): The Guardian of Web3 Security

Security is always the most critical issue in the blockchain world. Shieldeum is a Web3 cybersecurity platform that offers various security services using the DePIN model.

It uses enterprise-grade data center servers to provide application hosting, data encryption, threat detection, and more. Its native token SDM is used to pay for services, incentivize node operators, and participate in DAO governance.

In 2024, Shieldeum developed applications across Windows, Mac, Linux, Android, and iOS, greatly improving usability. It also raised $2 million USDT for node testing.

Looking ahead, Shieldeum plans to expand its product line, enter new markets, and develop BNB-based Layer-2 blockchain solutions dedicated to node operation.

6. The Graph (GRT): The Index of On-Chain Data

Want to query data from blockchain as easily as using Google to search web pages? The Graph is such a tool.

Developers can create and publish open APIs called “subgraphs” to efficiently query blockchain data and build decentralized applications. GRT tokens are used to incentivize indexers, curators, and other network participants.

As of December 26, GRT’s price is $0.04, with a market cap of $386 million, and a -83.78% change over the past year.

In 2024, The Graph expanded support to multiple chains, including Ethereum, NEAR, Arbitrum, Optimism, Polygon, and Avalanche.

The plans for 2025 include launching richer data service markets, enhancing developer tools, optimizing indexing performance, developing composite data tools, and further improving the protocol itself.

7. Theta Network (THETA): The Revolution in Video Streaming

Why is video streaming so expensive? Because CDN (Content Delivery Network) costs are high. Theta changes this model—allowing users to share idle bandwidth and computing resources, improving video quality and reducing costs for content providers.

Theta uses a dual-token system: THETA for governance, and TFUEL for transactions and rewards.

The highlight for 2024 is the launch of EdgeCloud—a new generation edge computing solution integrating cloud and edge computing for video, multimedia, and AI applications.

As of December 26, THETA’s price is $0.26, with a market cap of $259 million, and a -89.02% change over the past year.

In 2025, Theta plans to release EdgeCloud Phase 3, an open marketplace connecting clients and community-managed edge nodes.

8. Arweave (AR): The Promise of Permanent Storage

If Filecoin is short-term storage, then Arweave is permanent storage. It uses a unique blockweave structure and SPoRA consensus mechanism to ensure data can be stored forever.

AR tokens are used to pay for storage fees, creating an economic model that supports long-term data preservation.

In November 2024, Arweave released version 2.8 of its protocol, introducing new packaging formats to improve network efficiency and scalability.

As of December 26, AR’s price is $3.43, with a market cap of $224 million, and a -80.04% change over the past year.

Future plans include expanding the ecosystem, integrating with more dApps, and optimizing developer tools.

9. JasmyCoin (JASMY): The Sovereign Protector of IoT Data

JasmyCoin was founded by former Sony executives, aiming to protect the sovereignty and security of IoT device data. Established in 2016, the project has built a solid foundation in data privacy and security.

Using blockchain, Jasmy ensures secure data exchange among IoT devices, allowing users full control and monetization of their data.

In 2024, JASMY’s price surged over 366%, with a market cap reaching $1.35 billion. This growth was driven by rumors of partnerships with NVIDIA, Ripple, and others. As of December 26, JASMY’s price is $0.01, with a market cap of $296 million, and a -84.59% change over the past year.

In 2025, the team plans to establish strategic alliances with IoT hardware manufacturers, develop new features, and demonstrate the real value of IoT data.

10. Helium (HNT): Decentralized Wireless Networks

Helium uses blockchain to incentivize ordinary people to install and maintain hotspots, providing long-range connectivity for IoT devices. Each hotspot offers network coverage and can mine HNT tokens.

Now operating on the Solana chain, Helium’s performance and speed have greatly improved. The focus in 2024 is on integrating 5G capabilities to support more devices and applications.

The launch of IOT and MOBILE tokens further enriches the ecosystem. Over the past year, HNT’s market cap increased by over 190%, approaching $990 million.

In 2025, Helium plans to optimize its Proof-of-Coverage mechanism and expand global network coverage.

11. Grass Network (GRASS): Crowdsourcing AI Training Data

Grass allows ordinary people to earn money by contributing unused network bandwidth. Users run Grass nodes, and the network uses this bandwidth to collect and process public network data for AI model training.

In 2024, Grass experienced explosive growth, attracting over 2 million users during testing. During a large-scale airdrop on October 28, 100 million GRASS tokens were distributed to 1.5 million wallets.

Post-airdrop, GRASS’s price surged over 200%, with a current market cap of about $600 million. As of December 26, the price is $0.30, with a change of -0.82%.

In 2025, Grass plans to expand infrastructure and create a community governance mechanism to involve users in decision-making.

12. IoTeX (IOTX): The Blockchain Brain for IoT

IoTeX creates a secure, scalable cross-machine interaction ecosystem with blockchain + IoT. Its unique Roll-DPoS consensus mechanism offers high throughput and low latency.

In 2024, IoTeX launched version 2.0, introducing modular infrastructure supporting verifiable DePIN. This includes DePIN infrastructure modules(DIM) and modular security pools(MSP), providing core functions for DePIN projects.

Currently, there are over 230 dApps and more than 50 DePIN projects in the ecosystem. As of December 26, IOTX’s price is $0.01, with a market cap of $678 million, and a -81.61% change over the past year.

The big goal for 2025 is to connect 100 million devices and unlock trillions of dollars in network value.

Real Challenges Facing the DePIN Sector

Development will not be smooth sailing. For DePIN to become mainstream, it must overcome three major challenges:

Technical Complexity. Integrating blockchain with physical infrastructure involves complex issues like security, scalability, and compatibility. Ensuring seamless communication between decentralized networks and physical assets is crucial.

Regulatory Uncertainty. DePIN projects involve multiple regulatory frameworks for digital and physical infrastructure. Different countries have vastly different regulations, which can be a headache for project teams. The evolving regulatory landscape for blockchain adds another layer of complexity.

Market Acceptance. To achieve large-scale adoption, DePIN must prove it is cheaper, more efficient, and easier to use than traditional solutions. Convincing established industries to adopt new models is a significant challenge.

How Big Will It Get? Market Forecasts Are Optimistic

Based on current market trends, the outlook is quite bright. DePIN’s total market cap grew by 28% over the past year, surpassing $32 billion. Sub-sectors like computing, storage, and AI are especially hot.

Institutional analysts believe that by 2028, the DePIN market could reach $3.5 trillion. Growth drivers include rising demand for high-quality streaming, online content distribution, comprehensive data storage solutions, and the shift from centralized to decentralized networks.

This forecast may sound exaggerated, but if DePIN can deliver on its promises, it has real potential. After all, the global infrastructure market itself is already worth trillions.

Conclusion: DePIN Is More Than Just Technology—It’s a Paradigm Shift

Overall, the DePIN sector is experiencing rapid growth. Projects focused on security, scalability, and decentralization are attracting increasing attention from investors and traders.

As demand for decentralized solutions grows, these DePIN projects will play an increasingly important role, opening up broad opportunities for technological innovation and diversified investment. Whether from a technical or investment perspective, DePIN is worth close attention.