DePIN Becomes the Subject of the Latest Cryptocurrency VC Obsession

Venture capitalists have pumped billions of dollars into the DePIN space, with some of them investing their entire funds into the DePIN protocol. While DePIN projects now have a combined market capitalization of tens of billions of dollars, the industry faces one of the oldest challenges in cryptocurrency: relatively few customers. Analytics point out that DePIN projects with great potential are those where the need for the underlying service is clearly identifiable, meaning that the customers already exist. Projects like the Helium protocol, which powers wireless networks through a token-driven ecosystem, or Filecoin's data storage platform.