This week, the DePIN and AI sectors showcased a flurry of strategic integrations, high-impact summits, and significant fundraising activities. Here’s a more detailed rundown of the key developments:
1. OKX Boosts IoTeX Ecosystem Through Strategic Wallet Integration
OKX, a leading cryptocurrency exchange, has integrated the DePIN modular platform from IoTeX into its wallet, which supports over 50 million users. This strategic move is anticipated to significantly increase traffic to the IoTeX ecosystem, especially after IoTeX's upgrade to version 2.0 which includes modular infrastructure improvements. The integration is part of a broader strategy that includes collaborations with TON to potentially bring 950 million TG users and with Filecoin to enhance modular integration strategies in the DePIN ecosystem.
2. Roam Advances Global WiFi Connectivity at Asia Blockchain Summit 2024
At the Asia Blockchain Summit 2024 held in Taipei, Roam (previously MetaBlox) highlighted its contributions to the DePIN ecosystem with the introduction of its new product line, Roam Growth. Roam is pioneering a decentralized global WiFi roaming network, now supporting over 3.5 million OpenRoaming nodes. This initiative enhances the public WiFi experience by simplifying WiFi authentication processes and ensuring secure data transmission, backed by Roam's integration of decentralized identifiers (DIDs) and verifiable credentials (VCs).
3. Raiinmaker Debuts DePIN App on Solana Mobile, Empowering AI Contributions
Raiinmaker has launched a groundbreaking DePIN app on the Solana Mobile dApp Store, designed for Solana Mobile Saga handset users. This app allows users to utilize their idle device processing power to contribute to AI model training, with participants being rewarded in $COIIN tokens. This initiative is pivotal in democratizing access to AI and enhancing user engagement within the Web3 space.
4. Significant Funding Rounds in DePIN and AI: Morpho and Hyperbolic
This week saw Morpho leading with a $50 million raise aimed at expanding its decentralized finance markets. The round included participation from notable investors such as Ribbit Capital, A16z Crypto, and Coinbase Ventures. In another significant financial move, Hyperbolic, a Web3 AI cloud firm, secured $7 million in seed funding to advance its AI inference services. This funding is critical for expanding their GPU Marketplace and developing open-access AI services.
5. Andrena Secures $18M for Decentralized Internet Services on Solana
Andrena, a DePIN project based on the Solana platform, raised $18 million in a Series A extension round led by Dragonfly. The funding will accelerate the deployment of Andrena’s decentralized autonomous wireless network (DAWN), aiming to democratize internet access by allowing users to buy, sell, and share bandwidth in a peer-to-peer manner.
6. IoTeX and TONX Forge Partnership to Boost DePIN Integration
In a strategic move, IoTeX and TONX announced a partnership during The Open Summit in Taipei, focusing on integrating DePIN with Telegram applications. This collaboration aims to leverage IoTeX’s modular DePIN infrastructure to potentially onboard Telegram’s vast 950 million user base, marking a significant step towards large-scale adoption of DePIN technologies across various sectors.
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