hat is a DePIN track? What are the prospects for the future? A comprehensive interpretation of the development of the DePIN industry

The sensor DePIN project is tracking real-time conditions at all levels of the planet.

Real-time environmental data, previously only available to governments, militaries, and hedge funds, is now being published by open, verifiable sensor networks.

Back on Earth, DePIN wearables are enabling health-focused communities to emerge on-chain.

As healthcare becomes highly personalized, data from verifiable sensors becomes the backbone of leveraging AI to disrupt the healthcare and health insurance industry.

Smartphones provide a wealth of health data, and there is less friction for users to join than hardware.

The DePIN project draws inspiration from utilitarian fitness apps with proven product-market fit, and enhances user engagement by adding token incentives.

identity

Identity verification is a central issue that limits the most promising applications of cryptocurrencies.

The growth of the India stack shows that a trusted, neutral digital identity layer is a prerequisite for the mass adoption of digital payments and other real-world applications.

This cycle's "Samcoin" Worldcoin is the undisputed leader in the field of verifiable human identity.

Despite being banned in several major countries, World (formerly Worldcoin) has over 20 million verified identities and a fully diluted valuation of over $20 billion within its first 18 months of existence.

Worldcoin's success has fueled innovation in competitive proof-of-personality protocols.

Personality proof solutions compete between two overlapping trade-offs: scanning accuracy vs. cost, and identifier persistence vs. privacy.

Anymal

Humans aren't the only group that needs a digital identity: Anymal tracks more than 1.5 million pets on-chain.

By working directly with animal shelters and rescue agencies, Petastic (the first app on the Anymal protocol) has established digital identities for millions of pets before it goes public.

Dimo

Dimo's decentralized car ecosystem connects 135,000 cars with more than 100 developers.

In 2024, Dimo's ecosystem saw meaningful growth in supply-side scale and developer activity, while its on-chain revenue was broadly flat at around $10,000 in annualized revenue (ARR) at the end of the year.

Blackbird

A decentralized loyalty and rewards network creates value through "vertical identity".

Co-founded by Resy founder Ben Leventhal, Blackbird raised $35 million from a16z, Multicoin, and USV and saw users check in more than 75,000 times at partner restaurants in its first nine months.