Exploring DePINs: Which Projects Are Reshaping Web3 Infrastructure in 2025?

The blockchain industry is witnessing a fundamental transformation through Decentralized Physical Infrastructure Networks (DePINs), a sector that has evolved from theoretical concept to practical reality. As we move into 2025, understanding which projects are leading this shift becomes critical for anyone tracking crypto innovation.

Understanding DePINs: The Bridge Between Digital and Physical Worlds

Decentralized Physical Infrastructure Networks represent a paradigm shift in how we approach digital infrastructure. Rather than relying on centralized providers, DePINs tokenize physical resources—bandwidth, storage, computing power, GPU capacity—and create economic incentives for individual contributors to participate in maintaining these networks.

The mechanism is straightforward: participants provide real resources, receive verification through blockchain, and earn rewards in cryptocurrency. This model eliminates intermediaries while reducing costs and improving resilience. Think of it as turning unused bandwidth, storage, or computing resources into productive network assets.

How the DePIN Ecosystem Functions

DePINs operate through several interconnected components:

Tokenized Incentives: Contributors are rewarded with native tokens for maintaining network infrastructure, creating a self-sustaining economic model.

Distributed Architecture: Physical components (servers, hotspots, storage nodes) are spread across multiple locations, eliminating single points of failure.

Blockchain Verification: Smart contracts automatically verify participation and distribute rewards without requiring centralized intermediaries.

Interoperability Layers: DePIN projects increasingly integrate with multiple blockchain networks, allowing seamless data exchange and service provision across ecosystems.

This design philosophy addresses a critical weakness of traditional infrastructure: centralized control creates vulnerability and limits accessibility for smaller users or emerging markets.

The DePIN Market Landscape: Growth Trajectory and Scale

The sector has expanded considerably, with the combined market capitalization of DePIN projects reaching approximately $32 billion in late 2024. This represents a market demonstrating resilience and attracting institutional attention from venture capital firms and established investors.

Major venture firms like Borderless Capital have committed substantial resources to this space, launching a $100 million fund specifically targeting DePIN expansion. This level of institutional backing signals confidence in the sector’s long-term viability.

Market analysts project that by 2028, DePINs could command a market size exceeding $3.5 trillion, driven by demand for sustainable streaming solutions, efficient content delivery, and secure data storage. This projection reflects the potential to onboard the next wave of Web3 users through practical, utility-driven applications.

Leading DePIN Projects Reshaping the Sector

Internet Computer (ICP): Computing at Global Scale

Internet Computer presents a fundamentally different approach to decentralized infrastructure. Rather than operating within existing blockchains, ICP creates its own “world computer”—a network of independent data centers hosting applications directly on blockchain.

The platform distinguishes itself through:

• Autonomous execution: Applications run directly on ICP without requiring traditional cloud infrastructure
• Scalable architecture: The Tokamak, Beryllium, and Stellarator protocol upgrades in 2024 enhanced performance metrics
• Cross-chain integration: Planned Solana compatibility expands ecosystem reach

Currently priced at $3.20 with a $1.75B market cap, ICP has faced significant pressure, declining 74% over the past year. Nevertheless, the platform continues developing AI capabilities and interoperability features that position it as foundational DePIN infrastructure.

Bittensor (TAO): Decentralized Machine Learning Networks

Bittensor uniquely merges blockchain with artificial intelligence infrastructure. Rather than traditional machine learning requiring centralized training facilities, Bittensor creates a marketplace where distributed ML models train collaboratively, with participants earning TAO tokens based on their contribution value.

The protocol’s 2024 achievements included deploying Proof of Intelligence mechanisms and Decentralized Mixture of Experts architecture, advancing collaborative AI development. TAO currently trades at $260.50, representing a 53% annual decline, yet maintains a $2.50B market capitalization.

Looking toward 2025, Bittensor’s focus includes expanding industrial applications and exploring how decentralized ML networks can serve enterprise-level AI requirements, potentially capturing segments currently dominated by centralized AI platforms.

Render (RENDER): GPU Resource Monetization

Render Network solved a specific infrastructure problem: rendering requires enormous computing power, yet many users maintain idle GPU capacity. The platform connects these two needs, allowing content creators to access affordable rendering resources while GPU owners generate passive income.

The 2024 transition from Ethereum to Solana exemplified the sector’s technical evolution, with Render rebranding its token (RNDR to RENDER) to optimize for the new blockchain’s speed and cost efficiency. RENDER now trades at current market rates with gains reflecting industry momentum.

The platform has demonstrated particular appeal in creative industries—3D animation, virtual reality, gaming—and continues expanding services to film production and entertainment sectors.

Filecoin (FIL): Decentralized Storage Infrastructure

Filecoin operates as a peer-to-peer storage marketplace where participants monetize excess storage capacity while users access economical, verified storage solutions. The network functions through a unique economic model: storage providers receive payment proportional to their contribution and service quality.

2024 brought substantial evolution through the Filecoin Virtual Machine (FVM), enabling programmable storage applications and attracting Total Value Locked beyond $200 million. However, FIL token performance has remained muted relative to broader market movements, currently trading below 2024 peaks.

The Graph (GRT): Data Infrastructure Layer

The Graph solves a foundational DePIN problem: blockchain data accessibility. By creating a decentralized indexing protocol, the platform enables developers to query blockchain information efficiently through custom APIs (subgraphs).

The protocol’s multi-chain support spanning Ethereum, NEAR, Arbitrum, Optimism, Polygon, Avalanche and other networks demonstrates institutional demand for reliable data infrastructure. GRT trades at $0.04 currently, down 83% annually, yet maintains $424.70M market capitalization, suggesting institutional confidence in long-term protocol utility.

Theta Network (THETA): Video Streaming Decentralization

Theta addresses the substantial infrastructure costs associated with video streaming by incentivizing users to share bandwidth and computing resources. This approach reduces delivery costs while improving streaming quality through distributed delivery.

The 2024 launch of EdgeCloud represented significant protocol advancement, creating next-generation edge computing solutions combining cloud and edge infrastructure. With current pricing at $0.30 and market cap around $297.50M, Theta continues expanding its vision of creating a global computing grid powered by community infrastructure.

Arweave (AR): Permanent Data Preservation

Arweave tackles digital preservation through its blockweave architecture—a network structure where each block connects to multiple previous blocks, ensuring redundancy and historical data preservation. The protocol’s innovative Succinct Proof of Random Access (SPoRA) consensus mechanism incentivizes maintaining historical data.

The 2024 version 2.8 upgrade enhanced network efficiency and reduced mining costs. AR currently trades at $3.88 with $253.83M market capitalization, representing ongoing ecosystem development in the permanent storage segment.

JasmyCoin (JASMY): IoT Data Monetization

Jasmy combines Internet of Things infrastructure with blockchain to enable decentralized data ownership and monetization. Founded by former Sony executives, the project emphasizes data sovereignty—individuals controlling and profiting from their personal information rather than corporations centralizing this value.

Currently at $0.01 pricing with $336.77M market cap, JASMY represents the intersection of DePIN infrastructure with data privacy concerns gaining mainstream prominence.

Helium (HNT): Wireless Network Decentralization

Helium pioneered decentralized wireless infrastructure by deploying Hotspots—devices providing IoT connectivity while mining HNT tokens. This model incentivizes network expansion without requiring centralized infrastructure investment from companies.

Operating on Solana blockchain, Helium has expanded beyond basic IoT connectivity into 5G capabilities. With current pricing at $1.57 and market cap of $293.08M, the network continues expanding global coverage while supporting diverse IoT applications.

Grass Network (GRASS): AI Data Infrastructure

Grass enables users to monetize idle internet bandwidth by running network nodes that collect unstructured web data for AI model training. This emerging approach addresses a critical AI requirement—high-quality training data—through decentralized crowdsourcing.

Launched via substantial airdrop in October 2024, GRASS distributed 100 million tokens to 1.5 million wallets. Currently trading at $0.33 with $149.80M market capitalization, the project represents recent DePIN innovations addressing AI infrastructure demands.

IoTeX (IOTX): IoT Blockchain Integration

IoTeX creates infrastructure specifically optimized for machine-to-machine transactions, utilizing Roll-DPoS consensus for high throughput and low latency. The 2024 launch of IoTeX 2.0 introduced modular DePIN support through Infrastructure Modules and Modular Security Pool architecture.

Currently priced at $0.01 with $74.45M market capitalization, IoTeX positions itself as foundational layer supporting 50+ DePIN projects and 230+ decentralized applications within its ecosystem.

Shieldeum (SDM): Web3 Security Infrastructure

Shieldeum applies DePIN principles to cybersecurity, leveraging distributed data center servers for threat detection, application hosting, and high-performance computing. The project emphasizes professional-grade security through decentralized architecture.

2024 development expanded platform availability across Windows, Mac, Linux, Android, and iOS, with $2 million in funding supporting node testing and operational validation.

The DePIN Advantage: Why Decentralized Infrastructure Matters

Decentralized physical infrastructure networks offer several compelling advantages over traditional centralized systems:

Resilience Through Distribution: Eliminating single points of failure creates systems capable of withstanding outages, attacks, or provider failures that would cripple centralized alternatives.

Economic Efficiency: By leveraging idle resources, DePINs dramatically reduce capital requirements compared to building traditional infrastructure. A startup can launch services without massive upfront infrastructure investment.

Democratic Access: Individuals with modest resources can participate in infrastructure provision and benefit from shared rewards, democratizing participation in what were previously capital-intensive industries.

Scalability Without Centralization: DePIN architectures scale by expanding the participant network rather than requiring increasingly centralized infrastructure investment.

Data Sovereignty: Decentralized architectures empower individuals to control their data rather than surrendering it to centralized corporations.

These advantages explain why institutional investors and venture capital increasingly target DePIN projects—the sector addresses fundamental infrastructure problems through innovative economic models.

Current Headwinds: Technical and Regulatory Realities

Despite compelling opportunities, DePINs face genuine obstacles requiring resolution:

Integration Complexity: Combining blockchain’s digital capabilities with physical infrastructure requires sophisticated engineering across security, scalability, and system interoperability. Ensuring reliable communication between decentralized networks and physical assets remains technically demanding.

Regulatory Uncertainty: DePIN projects operate across jurisdictions regulating both digital assets and physical infrastructure. Navigating these overlapping regulatory frameworks while maintaining operational compliance presents ongoing challenges.

Adoption Barriers: Displacing established infrastructure requires demonstrating clear advantages in cost, efficiency, and user experience. Overcoming institutional skepticism and proving reliability across diverse use cases remains essential.

Market Acceptance: The sector must demonstrate that decentralized infrastructure can match or exceed performance standards users currently expect from established providers.

Addressing these challenges requires continued technical innovation, regulatory engagement, and real-world performance validation demonstrating DePIN superiority over centralized alternatives.

Market Outlook: Infrastructure Innovation Trajectory

The DePIN sector’s trajectory suggests infrastructure innovation entering critical inflection points. Several factors support continued sector expansion:

Sector Convergence: Computing, storage, and AI represent natural applications where DePINs create immediate value by reducing costs and improving accessibility.

Institutional Capital: Venture funding targeting DePINs demonstrates professional investors’ conviction regarding sector fundamentals and long-term value creation potential.

Technical Maturation: Platform upgrades and protocol innovations—from modular architectures to cross-chain compatibility—indicate the sector moving beyond early-stage experimentation toward production-grade infrastructure.

Real-World Adoption: Expanding use cases in streaming, IoT, AI training, and data storage demonstrate DePINs solving practical problems rather than remaining purely theoretical.

Market forecasts projecting $3.5 trillion DePIN market valuation by 2028 reflect this momentum, driven by fundamental demand for decentralized solutions addressing infrastructure challenges.

Conclusion: DePINs as Infrastructure Innovation

Decentralized Physical Infrastructure Networks represent more than technical innovation—they embody a philosophical commitment to building inclusive, resilient, and efficient infrastructure. By distributing control and economic participation, DePINs enable individuals and communities to participate in infrastructure provision while reducing costs and improving accessibility.

As the sector matures and technical capabilities advance, DePIN projects will increasingly become essential infrastructure components within the broader Web3 ecosystem. For investors, developers, and industry participants, understanding DePIN projects and their specific use cases has become essential for navigating crypto’s infrastructure evolution.

The projects highlighted above represent different approaches to decentralized infrastructure provision, each addressing specific infrastructure challenges while demonstrating broader sector momentum. As regulatory clarity improves and technical maturation accelerates, DePINs are positioned to fundamentally reshape how societies approach essential infrastructure—from energy to storage to computing power.