Borderless Capital launches its third $100 million fund to invest in DePIN projects

One of the fund’s investors was the Solana Foundation

19.09.2024 - 10:45

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What’s new? Investment firm Borderless Capital has unveiled its third fund focused on decentralized physical infrastructure networks (DePINs) with $100 million in funding. Investors included DePIN-focused blockchain teams Peaq and IoTeX, NPO Solana Foundation, and market maker Jump Crypto.

Material by CoinDesk

What else is known? “DePIN will become the global standard for deploying physical infrastructure, coordinating human resources, and generating billions in passive income while at the same time providing easy access and lower cost for the users,” Álvaro Gracia, partner at Borderless Capital, said.

DePIN projects are blockchains for managing and operating physical infrastructure systems. Use cases range from protocols in energy solutions to GPU networks and data collection.

These projects are created using blockchain technology and incentive payments for users involved in building and maintaining the infrastructure. This infrastructure can then be utilized by other projects and users, eliminating the need to run their own hardware.

DePIN projects are also actively developing on the Solana blockchain, with Helium, Hivemapper, and Render being the most notable.

For example, Helium incentivizes users to provide connectivity through access points using its own HNT token. And in Hivemapper, operators are rewarded for taking video footage of streets, which is then used to create maps. In the GPU Render distributed network, users can create content on rented computing power, for which their owners also receive tokens.

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