DePIN Platform Uplink Raises $10M Led by Framework Ventures

A Decentralized Physical Infrastructure Network (DePIN) is a type of firm that bridges the gap between blockchain technology and physical systems. According to data provider Messari, this sector is projected to be worth an impressive $3.5 trillion by 2028. DePIN initiatives allow people to contribute infrastructure and are incentivized through the issuance of tokens.

Uplink offers decentralized network connections to build more dispersed and user-managed infrastructure. The goal, as stated by the company, is to lessen our dependence on conventional centralized telecom companies.

Users and businesses can receive tokens as compensation for participating in or utilizing the Uplink network. They have the option of connecting their current setup to Uplink or obtaining suitable equipment for their specific community/organization. The corporation intends to introduce the token into circulation by the end of this year.

The company stated in the press release that by introducing financial motivators which entice individuals to expand the use of Depin-powered internet, more people will be able to connect in areas served by Uplink, while uncovering regions where coverage is lacking.

Based on Framework Ventures’ assessment, many Decentralized Pinch-to-Earn (DePIN) projects, including Helium, have adopted a retail-targeted strategy for initially disseminating their networks and hardware. Notably, Helium is amongst the largest and pioneering DePIN projects, boasting a market value nearing $1 billion.

Framework Ventures announced that Uplink is focusing on forming partnerships with large enterprises for the initial distribution of their product. In the early stages of DePIN, they believe that these conglomerates will be most effective in promoting widespread adoption by actively facilitating fleet deployment.

According to the statement, Uplink, which was established in 2016, worked together with Ericsson, Deutsche Telekom, and E.ON.