EMB: March 27, 10:00 UTC

DePIN layer 1 Peaq raised $15 million in a funding round led by Generative Ventures and Borderless Capital.DePIN refers to using a blockchain to build physical infrastructure networks so other projects don't need to buy and run their own equipment.Peaq currently hosts more than 20 DePIN networks.Unmute

Decentralization in Focus

06:53Lido Gearing Up For Ethereum's Upcoming Shanghai Upgrade11:08Rebuilding Trust in Crypto After FTX Collapse07:09The Case for DeFi Amid FTX Fallout08:43Unstoppable Domains Exec on Future of Web3, Diversity in Crypto

Layer-1 blockchain Peaq said it raised $15 million in funding to expand its ecosystem of decentralized physical infrastructure (DePIN) networks.

The funding round, led by Generative Ventures and Bordless Capital and featuring participation from Spartan Group, CMCC Global and Animoca Brands, comes ahead of the blockchain's mainnet launch and listing of the PEAQ token.

DePIN refers to using blockchain technology and token incentives to build physical infrastructure networks so other projects don't need to buy and run their own equipment. In other words, DePIN is a decentralized version of Amazon Web Services (AWS) or Google Cloud.

Peaq currently hosts more than 20 DePIN networks, according to a Wednesday email statement.

Crypto market data provider Messari estimates that DePIN could have a market value of $3.5 trillion by 2028.

Read More: AIOZ Network Partners With Alibaba Cloud to Boost AI, Storage and Streaming Services

Edited by Sheldon Reback.