There has been quite a big interest in Solana DePIN projects. People are getting more interested in DePIN on Solana and expecting it to be the next big thing.
Solana DePIN projects are a means to get the token form of tangible assets. These tangible assets could be cellular networks, cloud storage, and computer processing power.
What’s Going On in the DePIN Market
The DePIN market is currently valued at $20 billion, having grown and expanded by about 400% in the past year. DePIN has become one of the most profitable areas in crypto, with growth surpassing 300%. The only sector that ranks above it is real-world assets (RWA). The value of DePIN on Solana has exceeded $4 billion. As AI and machine learning become more popular, regular users and companies adopt Solana depin projects.
Your comprehensive DePIN guide for 2024 and beyond
This free report from @buildwithMV contains:
-30+ pages of analysis
-8 market maps
-100s of protocols discussed
-Detailed investment frameworks proposedLink in the last tweet. TLDR in the next few
(We did our best to include… pic.twitter.com/Fo4FqhGvnx
— Tom Dunleavy (@dunleavy89) September 9, 2024
Why DePIN Loves Solana
Solana appeals to DePIN because of its speed, cost, and infrastructure. It processes transactions quickly and costs less than other blockchains.
Due to its high speed, easy system installation, and increasing number of users, it is attractive to DePIN projects. Now, let’s talk about DePIN projects on Solana.
1) Render Network
Render is a decentralized GPU rendering network. After major exchanges upgraded from Ethereum to Solana-based tokens, token migrations to Solana occurred. Why? Speed and cost efficiency.
Render is also introducing some cool new features. For example, the Render Network Cinema 4D Wizard streamlines designers’ workflows by supporting native C4D files. In addition, Render is part of Grayscale’s Decentralized AI Fund, showing its importance in AI.
Big news for Cinema 4D artists using the Render Network! Your rendering process will be streamlined like never before with @rendernetwork now supporting native C4D files. 🫡
Download the Render Network Wizard (compatible with all C4D versions from 2022 onwards) that provides a…
— The Render Network (@rendernetwork) August 15, 2024
2) Get Grass
Get Grass is a decentralized network that sells your unused Internet computing power. It sounds basic, yet it is a way of web scraping, converting available web data into useful AI datasets for developers.
Get Grass is a new way of accessing data, attracting over 2 million users worldwide. They’ve also launched a new product, the Desktop Node, and phase one of their airdrop, distributing 10% of their total token supply.
NEW PRODUCT RELEASE (INVITE-ONLY BETA)
Over the past few months, we’ve been making Grass operate better, faster, and cheaper.Today, we’re excited to introduce our Desktop Node, which uses less than 5% of the resources of a Chromium browser and handles 10x more bandwidth than… pic.twitter.com/6cNyLL4z2o
— Grass (@getgrass_io) July 22, 2024
3) Kuzco
Kuzco is all about scalable and cost-effective machine learning. It runs a decentralized GPU cluster on Solana designed for LLM inference—think ChatGPT, but decentralized.
Since launching in March, Kuzco has seen explosive growth.
By August, they had grown their online GPUs to 11.3K, and their daily points jumped from 4.3 billion in July to 10.9 billion in August. More workers are joining the network, and more machine-learning tasks are being completed.
There are over 11,000 nodes on the Kuzco distributed AI network.
From 70 countries.
And it’s only been a few months.
Soon we will connect all compute into a single, cohesive network to power AI models for the good of humanity. pic.twitter.com/k8OazpNd2P
— Kuzco (@kuzco_xyz) August 19, 2024
4) Ionet
Ionet is partnering with Chainbase, an omnichannel data network focusing on AI, to make it even more advanced. This cooperation aims to improve AI modeling, which will be important when AI is more advanced.
Also, Ionet is helping Chainbase grow, focusing on the $CBT token, which will launch toward the end of this year. Eligible Ionet users and stakers will also have the chance to take part in this launch.
ionet is partnering with @ChainbaseHQ to power Theia, an AI crypto model, on the decentralized GPU network. This collaboration advances AI and blockchain tech for the future ⛓️
read more at: https://t.co/vXgSgqoIaL
— io.net (@ionet) August 20, 2024
5) Compute Labs
Compute Labs is the last project in this part of the article, backed by the Solana Foundation. It is about AI-Fi (AI-powered finance). Its GPU RWA Liquidity Pool and Compute Tokenization Protocol (CTP) offers direct access to AI and computing power.
Compute Labs can help you invest in the $196 billion AI industry and gain up to 30% Annual Percentage Yield by staking the tokenized GPU on Solana. They also completed a pre-sale of H100 GNFT, raising $1 million in USDC.
@Compute_Labs H100 GNFT Pre-Sale has officially concluded, and it was a tremendous success!
$1M in total was raised from the community to tap into the 30% APY @nvidia H100 SXM5 Tensor Core GPU.
🤍 A heartfelt thank you to everyone for the incredible support! pic.twitter.com/Xa3iAP0axd
— Compute Labs | $AIFi (@Compute_Labs) August 28, 2024
Conclusion
Solana depin projects are huge and have a lot of room for growth. As more people look for ways to explore different aspects of blockchain technology, DePIN projects on Solana are well-positioned to meet their demand.
Whether tokenizing physical resources or providing cloud-based services, DePIN is shaping the future of decentralized infrastructure. Here is the second part.
Disclaimer
The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted risk tolerance levels of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses you may incur due to any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd.
