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Borderless Capital Introduces $100M DePIN Fund Backed by Peaq, Solana Foundation
DePIN refers to physical infrastructure networks built using blockchain technology and token incentives which other projects can use without having to buy and run their own equipment.
Updated Sep 18, 2024, 3:30 p.m. Published Sep 18, 2024, 12:00 p.m.
- Borderless Capital has unveiled its third DePIN fund with $100 million in backing.
- The fund counts DePIN-focused blockchain Peaq amongst its investors, as well as the Solana Foundation, Jump Crypto and IoTeX.
Investment manager Borderless Capital has unveiled its third decentralized physical infrastructure (DePIN) fund with $100 million in backing.
The fund counts DePIN-focused blockchain Peaq amongst its investors, as well as the Solana Foundation, Jump Crypto and IoTeX, Borderless announced via email on Wednesday.
STORY CONTINUES BELOW
DePIN refers to physical infrastructure networks built using blockchain technology and token incentives which other projects can use without having to buy and run their own equipment.
“DePIN will become the global standard for deploying physical infrastructure, coordinating human resources, and generating billions in passive income while at the same time providing easy access and lower cost for the users," Álvaro Gracia, partner at Borderless Capital, said.
One of the more prevalent DePIN areas is decentralized wireless networks, such as Helium, which incentivizes users to provide connectivity through hotspots through its native token HNT.
As of April this year, the top 10 DePIN projects had raised more than $1 billion combined, according to a report by Crypto.com.
Read More: WiFi Provider Andrena Raises $18M to Offer Decentralized Broadband
UPDATE 9/18/24; 15.26 UTC: Adds IoTeX to the list of investors.
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