DePIN
Revenue Grows Over 100x
in 2024, Messari Research Shows
DePIN projects saw revenue explode in 2024, reaching over $500 million—a 100x
increase from 2022—according to a report from Messari.
AI-powered DePIN projects dominated revenue streams, followed by off-chain
projects. This marks a major shift from the past two years when on-chain
developments accounted for nearly all DePIN revenue.
DePIN Growth Trejenctory Mirrors Early DeFi and NFT Boom
Blockchain• Информационные технологии » Информационно-коммуникационные технологии » Информационные технологии и телекоммуникации » Базы данных » Публичная база транзакций » Блокчейн
• Высокие технологии » Информационные технологии и телекоммуникации » Базы данных » Публичная база транзакций » Блокчейн intelligence firm Messari published its comprehensive update on the
Decentralized Physical Infrastructure Networks (DePIN) industry.
According to the report , the number of active DePIN projects nearly doubled
last year. DePIN tokens now represent 5% of the total cryptocurrency• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта market
cap. Over 13 million devices worldwide contribute to DePIN operations daily.
Sponsored
Sponsored
In 2024, 20 DePIN projects exceeded 100,000 active nodes , with five
surpassing 1 million nodes. State of DePIN in 2024. Source: Messari
Investment in such projects also surged, especially at the seed stage. Private
markets saw more capital raised at the pre-seed and seed levels than at Series
A. In liquid markets, low listing fully diluted valuations (FDVs) were the key
driver of high returns.
Among the top 22 DePIN tokens, only four lost value since their token
generation event (TGE). Virtuals Protocol posted exceptional growth , gaining
over 30,000% since its TGE. Other projects like NEURAL and NodeAI both grew by
more than 2,000%. DePIN Crypto Projects Returns since TGE. Source: Messari
Late-stage funding primarily flowed into a few standout DePIN projects ,
backed by leading venture capital firms. These projects often launched tokens
valued at 50-100x their book value, frequently achieving multi-billion-dollar
FDVs.
Community contributions played a key role in the industry s growth.
Nearly $230 million was raised in 2024 through node sales, crowdfunding, and
protocol-owned liquidity pools.
Meanwhile, Solana and Base emerged as leaders in network infrastructure and
consumer-focused applications, respectively. Solana’s low-latency design
continues to attract infrastructure innovators, while Base benefits from
Coinbase’s established brand and retail reach.
Overall, the DePIN momentum remained strong heading into 2025. Sui DePIN, the
first DePIN layer on the SUI blockchain• Информационные технологии » Информационно-коммуникационные технологии » Информационные технологии и телекоммуникации » Базы данных » Публичная база транзакций » Блокчейн
• Высокие технологии » Информационные технологии и телекоммуникации » Базы данных » Публичная база транзакций » Блокчейн, recently announced its upcoming
Initial DEX Offering (IDO) .
In December, Chirp launched Kage , the first play-to-earn (P2E) game on the
Sui blockchain• Информационные технологии » Информационно-коммуникационные технологии » Информационные технологии и телекоммуникации » Базы данных » Публичная база транзакций » Блокчейн
• Высокие технологии » Информационные технологии и телекоммуникации » Базы данных » Публичная база транзакций » Блокчейн . Kage combines gaming with IoT utility, featuring a treasure
hunt• Отдых, развлечения » Развлекательные игры » Игры на Местности » Поиск сокровищ (игра) inspired by “Pokémon Go” that rewards players through blockchain• Информационные технологии » Информационно-коммуникационные технологии » Информационные технологии и телекоммуникации » Базы данных » Публичная база транзакций » Блокчейн
• Высокие технологии » Информационные технологии и телекоммуникации » Базы данных » Публичная база транзакций » Блокчейн
incentives.
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