On September 17, Singapore time, the DePIN Summit "R3al World" hosted by IoTeX and co-organized by Messari ended successfully, with more than 5,000 people registered. It was one of the top three summits in terms of the number of registered participants among more than 700 Side Events during Singapore 2049, and it was also the event with the most attending institutions, projects and participants in the DePIN field. Such a large number of participants not only shows the appeal of IoTeX, the leading ecosystem in the DePIN field, and Messari, the concept proposer, but also reflects the market's close attention to this track and its continued heating up.
In his speech at the summit, IoTeX co-founder Raullen pointed out the dilemma of the hot but slow development of the DePIN concept, and gave a detailed construction path for how IoTeX 2.0 modularization can accelerate the development of DePIN. At the same time, based on IoTeX's modular DePIN and Polygon's chain aggregation AggLayer, the two parties jointly released a cooperation plan to establish the DePIN layer to support the construction of DePIN projects on all chains, further enhancing the multi-chain development and liquidity expansion of the DePIN project. Dylan, a DePIN researcher from Messari, said excitedly: "DePIN autumn has arrived, it's time to start!"
DePIN’s confusion: is it popular but not hot?
Judging from the "R3al World" event, DePIN has the largest number of participants among all tracks, and the guests and audience present are also very different from other events: the age group is older, the dress is more formal, and the communication atmosphere is more serious. There are many traditional listed companies and venture capitals who come to experience the water. DePIN has become the best gateway for many traditional industries with strong accumulation to understand and enter Web3.
However, even though DePIN is at the intersection of Web2 and Web3, its industrial development and number of projects are far less than the concept and market popularity. In this regard, Raullen, co-founder of IoTeX, said that there are two major obstacles on the road to the development of DePIN. First, compared with other blockchain projects, the construction threshold of DePIN is higher; second, the isolated construction of DePIN projects does not communicate with each other and lacks trusted verification, which creates barriers to the entry of capital and users. In this regard, IoTeX 2.0 provides a systematic solution, that is, by providing the complex and common parts of DePIN construction and operation to DePIN projects in the form of modular products and services, it helps DePIN projects to enter the market with higher efficiency and lower cost.
IoTeX co-founder Raullen shares about DePIN modularization
Under the modular strategy, IoTeX will become the open infrastructure of DePIN that transcends chain and ecological limitations to support all project teams. This cooperation with Polygon is an important part of promoting the construction of cross-ecological DePIN facilities, aiming to use AggLayer's cross-chain communication and liquidity sharing to enable projects based on IoTeX modules to distribute rewards and allow users to settle on the chain of their choice. Raullen said: "Our infrastructure will enable any DePIN developer to seamlessly connect with AggLayer, allowing users to interact with DePIN applications across multiple blockchains." In this regard, Polygon's co-founder Nailwal added: "This integration not only enhances cross-chain capabilities, but also unlocks unprecedented liquidity and expansion opportunities for DePIN projects through AggLayer. By providing a dedicated platform that seamlessly connects different ecosystems, these projects are able to thrive in a multi-chain world."
IoTeX and Polygon Release Strategic Plan to Co-build DePIN Layer
As the originator of the definition of DePIN, Messari has great expectations for the DePIN industry. Messari's DePIN researcher Dylan shared their data and research on public infrastructure, including energy and carbon emissions. Although the current exploration on the demand side still needs to be deepened, the imagination of building public facilities through decentralized DePIN is very huge. It is foreseeable that with the support of IoTeX DePIN modular infrastructure and various ecosystems, the construction threshold of DePIN will be greatly reduced. With the improvement of real-world devices and data chain verification, users and capital will also be more confident to join the development wave of "DePIN Autumn".
Messari researchers propose that "DePIN Autumn" is coming
Real! Web3 Physical Device Awards
Looking at Web3, DePIN may be the most suitable track for offline activities. Dozens of projects with physical equipment made their collective debut at the summit, from the trendy charging head Cybercharge, the weather monitoring instrument Nubila, the smart wearable DeRing, WatchX, Eden, to OORT's AI mining machine, Qualoo's network node, DeSIM's unmanned beverage machine... Various physical equipment covering technology and business model innovations became the focus of the entire event that attracted the most guests.
Various DePIN devices on display at R3al World
The DePIN event with a strong offline experience is unique among many industry summits, making "R3al World", a "Web3 Real World" event brand that has been established for two years and has traveled to more than ten cities around the world, the best stage for everyone to get close to and understand DePIN. It has been given the title of "Web3 CES (International Consumer Electronics Show)" by the industry.
Very high-end! The collision of hard-core innovation and top-level capital
Different from purely digital projects such as DeFi and Gamefi, DePIN requires a lot of interaction with the real world, which makes innovation challenging and attractive. At this summit, the collision between DePIN and AI, such as computing power and data, became a hot topic around the new infrastructure of human civilization. Leaders from projects such as CESS, Masa, Nesa and 375.ai introduced their innovations in their respective fields at the summit, and all the guests expressed highly consistent expectations for the use of Web3 to build decentralized AI infrastructure.
At the VC and other institutional capital levels, the idea of using socialized public construction to develop public infrastructure for DePIN and AI is also widely recognized. For a long time, investment institutions with traditional and crypto backgrounds such as Samsung Next, FMG, EV3, Borderless Capital, etc. have maintained very close cooperation with IoTeX, and all parties work together to provide the most powerful support for valuable innovators. Participating institutions Samsung Next, CoinFund, Animoca Brands, OKX Ventures, Dragonfly, Leminscap and M55 Capital also expressed their optimistic development trend for the DePIN track.
Top VC institutions discuss DePIN's investment approach
Very passionate! Entrepreneurs with bright eyes
Despite the recent downturn in market sentiment and the overlap of a large number of events during 2049, IoTeX's DePIN Summit was not affected at all. The event was packed with people, and it was reported that the 800 badges originally prepared were all distributed within 3 hours of the opening, so stickers had to be used temporarily to meet the needs of the guests. The entire floor of the venue was full, and the hotel lobby outside the venue was naturally "requisitioned" by the guests, becoming a platform for everyone to exchange DePIN.
The most excited people in the whole venue were naturally the entrepreneurs who brought their projects to the exhibition. The booths of projects such as Secret, Geodnet, Multiple Network, Huddle01, INNOVEX, etc. were always surrounded by guests who came to learn about and cooperate. On the podium, team members from XNet, AEON, DeCharge, the graph, Drone dash, izumi, etc. discussed and shared their views on the future development of DePIN. Overall, everyone is optimistic about the trend of DePIN, but the high innovation threshold is also an obstacle to the large-scale development of DePIN. To this end, IoTeX initiated and promoted the modular construction path of DePIN, and provided complex projects such as device chain verification and data off-chain calculation to DePIN projects in a modular way, which can help projects greatly reduce construction costs, thereby promoting DePIN's innovation efficiency and accelerating the arrival of the era of large-scale adoption in the industry.
DePIN Surf serves as a track accelerator and provides a stage for many innovative projects to showcase their ideas.
As one of the most attended events during Token2049 in Singapore, IoTeX's "R3al World" DePIN Summit showed us the continued popularity of this track regardless of bull or bear markets, and it was also the first time we had the opportunity to experience so many real-world physical facilities of Web3. It is precisely because of the endless exploration of these innovators that the Web3 industry has continued to make breakthroughs. During 2049, IoTeX built a platform for DePIN innovators, investors, and enthusiasts to communicate, share, and experience; and outside of 2049, IoTeX is building a comprehensive, underlying infrastructure for DePIN, building an open ecosystem for innovation, creation, and growth.
