Top 5 DePIN Projects to Have On Your Radar

A Messari State of DePIN report indicates that the number of DePIN projects has risen 12x from less than 100 in 2022 to 1,170 in 2024

Decentralized Physical Infrastructure Networks (DePINs) are a hot topic in the cryptocurrency sector. They leverage the blockchain to create interconnected hardware networks, with resource providers being rewarded in crypto for their contributions and clients benefiting from enhanced scalability, security, and reduced costs.

A Messari State of DePIN report found that the number of DePIN projects has risen 12x, going from less than 100 in 2022 to 1,170 in 2024, while revenue has increased by 33x in 2024. The report also noted that local governments are evaluating DePINs to tackle infrastructure challenges. These statistics highlight how quickly the sector is gaining traction and that it is worth watching.

A separate Messari report predicted the DePIN sector will grow 59% to a value of $3.5 trillion by 2028.

As such, it’s clear that DePINs will play a big part in our future. But what are some emerging DePIN projects worth keeping an eye on? We’ll answer that question below.

A Step Back: What Is DePIN in Crypto?

A Decentralized Physical Infrastructure Network or DePIN is a concept in cryptocurrency where the blockchain is utilized to decentralize control and ownership of real-world physical infrastructure like storage devices, Graphics Processing Units (GPUs), and other computer hardware.

Instead of a central authority or institution being responsible for decision-making, acquiring the hardware, and running the network, a DePIN democratizes ownership across all participants, weighted based on their contribution. People who contribute more resources to the network earn a larger share of the rewards and typically gain increased voting power on proposals over less significant contributors.

Outside of rewarding contributors with crypto, DePIN networks boast many other benefits. The blockchain is immutable and transparent, so all contributions can be easily verified and people can audit it straightforwardly. DePINs also save on initial hardware (and upgrade) costs by pooling resources across a network. Similarly, DePINs reduce costs as intermediaries are removed from the process, enhancing efficiency.

Examples of established DePIN projects include Filecoin, a peer-to-peer data storage system, and Helium, a decentralized wireless network that sees people install custom networking hardware to earn rewards.

5 DePIN Projects to Have On Your Radar

Now that we understand what a DePIN is, let’s explore a few projects that leverage the technology.

1. NodeOps Network – DePIN Orchestrator Layer with 58,000+ Nodes

NodeOps Network is a rapidly growing DePIN orchestrator (handling coordination and resource allocation). Its NodeOps Console is a Node-as-a-Service (NaaS) solution, while the Cloud Marketplace is a DePIN marketplace. The project provides a streamlined way for developers to hire computational nodes that they can use to operate key aspects of decentralized applications (dApps), such as storage or validation.

NodeOps leverages Autonomous Verifiable Services (AVS) to enhance security, providing a secure ecosystem for projects to operate. NodeOps has been designed to support most blockchains, ranging from well-known options like Solana and Arbitrum to lesser-known alternatives like Avail and KIP, making NodeOps an extremely versatile solution for running dApps.

NodeOps recently rebranded its Atlas Network testnet to NodeOps Network to help fuel its expansion strategy. The testnet had over 300,000 verified users and 3.44 million registered wallets, highlighting demand for the project. On February 12th, NodeOps shared a key milestone: the project took fourth place on the DePIN.Ninja revenue leaderboard, ahead of leading DePIN solutions in the space.

Why NodeOps Is Worth Watching

While the NodeOps mainnet and token generation event are coming soon, the project is already outperforming some established DePIN projects in terms of revenue. It supports 80+ blockchains and, according to Dune, has 60,000+ monthly active users. Unlike most crypto companies, which rely on launching a token to survive, NodeOps has proven itself to be a viable business on its own, which will only be enhanced by releasing a token.

2. Render Network – DePIN Video Rendering Solution

The Render Network is an innovative project building an expansive network of GPU hardware. People can contribute their unused hardware to earn rewards or leverage the Render Network to have complex graphics or visual effects rendered at a fraction of the hardware costs.

A significant benefit of using the Render Network is that it facilitates seamless creative workflows via plugins for leading 3D applications like Cinema 4D and Blender. This enables people to submit jobs without leaving their creative software. The network also offers cost-effective pricing tiers. Priority projects can be processed for €0.50 per 200 OBH (equal to one hour of processing