DePIN project Network3 announced the completion of a $5 million pre-seed and seed round of financing, with participation from EV3, IoTeX Eco fund, SNZ, Waterdrip Capital and Bing Ventures. The company plans to use the funds raised to expand its team and continue to develop its technology stack. Network3 is building a decentralized AI infrastructure that distributes tasks to numerous devices, reducing latency while prioritizing privacy. (The Block)