DePINs Identified as Web3’s Next Major Use Case in MV Global Report

Decentralized physical infrastructure networks (DePINs) are highlighted as Web3’s next significant use case in a recent report by MV Global. The report, dated Sept. 5, emphasizes DePINs' potential to attract a large number of new users to the cryptocurrency space. MV Global notes that real-world adoption of DePINs has accelerated, involving hundreds of thousands of users across various protocols. DePINs aim to decentralize real-world infrastructure like communications networks, data warehouses, and energy markets, leveraging blockchain technology. The ecosystem currently includes over 1,000 projects with a combined market capitalization exceeding $50 billion. By using token incentives and onchain governance, DePINs address challenges such as the 'cold start problem' and reduce infrastructure costs. The report also highlights emerging DePIN projects and use cases, including decentralized energy storage solutions and marketplaces. Additionally, the demand from AI applications is expected to drive the market for decentralized data storage and compute protocols to $128 billion by 2028.