Layer-1 Blockchain Peaq Raises $15M to Expand Its DePIN Ecosystem
Summary
Layer-1 blockchain Peaq has raised $15 million in funding to expand its ecosystem of decentralized physical infrastructure (DePIN) networks. The funding round was led by Generative Ventures and Bordless Capital, with participation from Spartan Group, CMCC Global and Animoca Brands. This comes before the blockchain's mainnet launch and the listing of the PEAQ token. DePIN uses blockchain technology and token incentives to build physical infrastructure networks, eliminating the need for other projects to purchase and operate their own equipment. Peaq currently hosts over 20 DePIN networks. Messari, a crypto market data provider, estimates that DePIN could be worth $3.5 trillion by 2028.
