DePIN is short for Decentralized Physical Infrastructure, which refers to projects that require hardware devices to deploy decentralized networks. Simply put, DePIN uses blockchain tokens to incentivize users with "hardware devices" to establish large-scale collaborative relationships of physical devices, forming a service-capable infrastructure network, allowing small and medium-sized enterprises to access and utilize network resources in an affordable manner without the need for accessibility.

As for AI, it is a global trend this year. If we were to identify AI's best partner, it would be DePIN, as DePIN will attract a large amount of computing power. If DePIN can mobilize hardware devices such as GPUs through supply chain cloud services to form an infrastructure network, there will be strong demand for large-scale model training, distributed machine learning, data storage verification mining, distributed reasoning, and more. GPUs are the lifeblood of AI, and as AI innovation continues, GPUs will become one of the world's most valuable assets.

Therefore, AI + DePIN will take on the role of the previous DeFi Summer and become the value narrative of this bull market.

Second-tier list of DePIN tracks

First, let's take a look at the current second-tier list of DePIN tracks

There are many targets listed above, let's categorize them briefly:

Leading projects (top 100 in market value): $fil, $rndr, $hnt, $theta (if I had to choose one, I would choose rndr)

Mid-market value projects: $AKT, $iotx, $lpt, $pokt, $shdw (iotx)

Low-market value projects: $honey, $dimo, $nodl, $mobile

We do not provide investment advice here, so everyone should research and choose their favorite projects.

Next, let's look at the current primary market hot AI + DEPIN projects

Io.net

io.net is a new decentralized computing network that launched its public test network in November 2023. Despite its short history, io.net has accumulated a large amount of GPU resources by integrating resources from Render, Filecoin, and its own network.

io.net is building the world's largest AI computing cloud, bringing AI to the world. The GPU assets on the current network exceed $3.4 billion. This places ionet higher than Arbitrum in the TVL ranking.

io.net plans to launch its token on April 28, which coincides with Nvidia's financial report release, making it an opportune time.

Grass

Grass is an exciting project expected to launch its mainnet in the first or second quarter. Grass already has over 500,000 users. When Grass network goes live, it will be one of the largest crypto protocols in the market solely based on user count, creating new income sources for everyone with an internet connection.

Grass combines several bullish narratives: DePin + AI + Solana

Aethir

Aethir Cloud is a decentralized platform that connects computing processing service providers and consumers, aiming to become an aggregator of public GPUs. In terms of investment, Aethir has successfully raised $9 million from a wide range of investors, including venture capitalists and family offices such as Animoca, Maelstorm Fund, IVC, Framework, Sanctor Capital, and Merit Circle.

Over 65,000 nodes have been sold, and all nodes will receive the first batch of NFT checker node licenses. The first batch of NFT checker node licenses will be issued on Friday, April 12, 2024, at 8 am UTC.

Meson Network

Meson is a new force in DePin, aiming to build a decentralized bandwidth network. With 350,000 nodes in 150 countries/regions, it has achieved over 20 Tb/s of bandwidth capacity. Users include well-known projects such as Filecoin, Arweave, Arbitrum, Greenfield, OKX chain, and BNB chain.

Meson nodes are very user-friendly, accepting various existing hardware such as personal computers, servers, and IoT devices. Importantly, users do not need to purchase mining machines like other DePin projects, significantly reducing user investment costs. This allows Meson to quickly grow and gather long-tail resources of bandwidth, supporting AI, big data, and DePin fields.

Privasea

Privasea is a pioneer in DEPIN + AI technology and has successfully raised $5 million to advance its groundbreaking integration of fully homomorphic encrypted machine learning (FHEML) with distributed computing networks.

The funding has attracted some of the most forward-thinking investors in the technology and blockchain fields, including Binance Labs, Gate Labs, MH Ventures, K300, QB Ventures, Crypto Times, as well as Zakaria (zak) Awes and Luke Shen (from Chainlink).

Peaq

DePIN Layer1 protocol Peaq completed a $15 million financing round, led by Generative Ventures and Borderless Capital, with participation from Spartan Group, HV Capital, CMCC Global, Animoca Brands, Moonrock Capital, Fundamental Labs, TRGC, DWF Labs, Crit Ventures, Cogitent Ventures, NGC Ventures, Agnostic Fund, and Altana Wealth, among others.

This funding will be used to expand Peaq's ecosystem, which consists of over 20 DePINs covering multiple areas such as multi-chain machine ID, AI agents, and data validation. The protocol is expected to conduct a public offering and token listing in the coming weeks, with its mainnet scheduled for release in May.

Ritual

Ritual brings together a distributed node network that can access creators of computing and models, allowing all creators to host their models on these nodes. Users can then access any model on this network (whether it's LLM or classic ML models) using a universal API, and the network has additional encryption infrastructure to ensure computational integrity and privacy.

Previously, decentralized AI computing platform Ritual announced the completion of a $25 million financing round, led by Archetype, with participation from Accomplice and Robot Ventures, among others. Ritual aims to create an incentive network to power distributed computing devices to support various applications of artificial intelligence. The funds will be used to build network infrastructure, expand the team, and develop the Ritual ecosystem.

GM Network

The first Ethereum ecosystem DePIN+AI exclusive modular L2 GM Chain, supported by AltLayer and built on Eigenlayer and OPStack, will gradually launch more components (GM ID, GM OS, GM Launchpad, etc.) to accelerate the entry of DePIN and AI projects into the Ethereum ecosystem.

Leading Web3 user security network GoPlus announced a strategic partnership with the first DePin+AI gasless modular Layer2 GM Network, strengthening technical and resource sharing to address Web3 user security challenges and enhance ecosystem user security, fully covering the open, permissionless, user-driven Web3 security network in the DePin and AI tracks.

The most anticipated projects are ionet and grass, with the potential for listing on Binance. The AI+DEPIN narrative will be in a long-term bullish trend, and as the new leader, ionet will go live this month, so let's look forward to the big wave coming.

END

Currently, it is the rising period of the bull market. The cryptocurrency market outlook predicted last year emphasized that ETFs would be approved smoothly, officially entering a major bull market.

During a bull market, many users may feel lost. Unlike the grinding nature of bear markets, where both sharp rises and sharp declines coexist, the high-frequency nature of sharp rises in a bull market makes it easier for cryptocurrency users to incur losses. Frequent trading and shorting throughout the entire bull market become fuel for others.

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