TechFlow news, according to the latest DePIN industry report released by Messari, the sector continues to grow, with funding increasing 296% year-on-year and total market capitalization rising 400% to reach $2 billion. Key highlights from the report include:
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Four new DePIN sub-sectors added: decentralized gaming infrastructure (DeGIN), AI data layer, robotics, and manufacturing.
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Among the top eight DePIN protocols by market cap, seven belong to digital resource networks (DRN), totaling $1.22 billion in value. Helium is the only physical resource network (PRN) in the top eight.
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Market cap growth is disproportionate to revenue growth. Overall revenues in the DePIN sector remain low, with only four major DePIN protocols ranking among the top eight by revenue.
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Two of the three largest financings in 2024 went to DePIN-dedicated Layer 1 blockchains, including IoTeX (raised $50 million) and Peaq (raised $30 million).
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Solana is currently the most favored development chain for DePIN projects, with an estimated 78 projects building on its network. Meanwhile, DePIN-focused Layer 1 blockchains such as IoTeX and Peaq are also continuously expanding their ecosystems.
