Jasper De Maere is Head of Research at Outlier Ventures, a U.K.-based Web3 accelerator.
The first wave of DePIN initiatives, around 2019, focused on digital infrastructure, but now we're seeing other types of networks emerging . Projects centered on data or service networks are becoming more common. Ultimately, I classify DePINs as those that 1) use blockchain-based, decentralized coordination to operate infrastructure and 2) rely on or impact physical infrastructure like servers, sensors, or property.
DePIN networks often rely on utility tokens due to their network effect, as these tokens align incentives among stakeholders with different economic interests. Sound token design is critical for creating the right game theory and incentivizing behaviors that support the network, rewarding contributions appropriately. Utility tokens also help kickstart the initial network effect, and more token engineers are now using scenario analysis and statistics during design.
Meanwhile, AI has been experiencing a renaissance since the launch of GPT nearly two years ago, with models improving and integration evolving rapidly. AI assistants, now being developed on blockchain, are set to simplify application use, reducing the need for human-friendly front-ends.Concerns around data protection are proving beneficial for the adoption of DePIN, which foundationally improves this due to its decentralized nature.
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