Crypto has had a bad reputation for a while, mostly due to the massive energy consumption of Bitcoin's Proof of Work network. Besides, last year's NFT craze didn't help either, as Ethereum miners worked tirelessly to provide digital images to NFT enthusiasts. However, things are changing for the better.
Ethereum's merger has drastically reduced energy consumption by over 99%, and Bitcoin miners are finding innovative ways to make mining net positive for global energy infrastructures. Despite negative headlines, crypto gradually evolves from a problem to a solution.
The DePIN sector plays a significant role in this development, and many projects contribute to this cause. We've compiled a list of amazing projects that bring back utility to nature and, most importantly, decentralized governance to ESG.
Here are a few sustainable DePIN projects focused on environmental issues.
1. PowerPod - Making strides in the EV industry
Get ready for the launch of PowerPod's interconnected EV charging station network! This project is the perfect way to take action towards a more sustainable future for the automotive sector. Whether you're a homeowner or a business owner, installing a PowerPod charger means rewards for you and for other drivers who use your hardware.
Starting with a smart detachable charging adapter, PowerPod is expanding its line of hardware to include high-performance home AC chargers and an on-the-go charger. All devices will be linked to the blockchain. The project is supported by a dual token model with Energy Points ($PT) and PowerPod Token ($PPD).
2. Arkreen - Bringing green data on-chain
The revolutionary Web3 project Arkreen aims to significantly reduce carbon emissions by collecting green energy data. Its core applications, Renewable Energy Certificates (REC) and Virtual Power Plants (VPP), are set to impact sustainable energy tremendously.
Arkreen's network is the perfect solution for bridging the gap between green energy's demand and supply sides. Its immutable and verifiable data storage layer ensures transparency and trustworthiness in the system.
On the supply side, the network collects information from various equipment and devices, such as solar panels, wind turbines, batteries, and thermostats, which provide valuable data. On the demand side, Arkreen has a wide range of applications, and users can access various types of miners, including remote miners, standard miners, and even virtual API miners.
3. Aquasave - water management innovation.
Aquasave is a project that aims to track and analyze the Earth's water supplies. It provides insight into the quality and consumption of our planet's most vital resource. The project uses user-generated data to provide statistics and reports that enable more efficient decision-making at local and global levels. Incentivizing users to generate data, Aquasave brings awareness to responsible water use and provides actionable insights to key decision-makers. By doing so. It is a great example of the flywheel effect DePINs are known for.
The project monetizes the data generated by its users using its native $AQC token. Participants can earn $AQC tokens by contributing to the network. Aquasave is a project to watch, as there are still plenty of roadmap milestones to be met in 2024. These include the device presale, token launch, and stock exchange listing.
4. WeatherXM - The era of Weather 3.0
Have you ever noticed that your friend's weather app gives a different forecast than yours, even though you're standing right next to each other? Forget about that. With WeatherXM, you can access the most accurate weather data available in the market, thanks to its network of people-owned weather stations.
The WeatherXM network offers three weather stations with different connectivity options and price points. Choose the Wi-Fi station for $400, the Helium-LoRAWAN station for $400, or the 4G-LTE station for $900, and start enjoying the best weather data out there.
Contributing to the WeatherXM network can earn you $WXM tokens. Whether it's sunny or rainy, you can always be part of the network and earn rewards. To get started, visit the WeatherXM website today. It's essential to note that WeatherXM is a top-level DePIN project that has received funding from various sources, including a $1.5 million investment from Borderless Capital.
5. Powerledger - Decentralized energy since 2016
Powerledger is a trailblazer in the DePIN industry, having been one of the space pioneers long before it was even called DePIN. Over the years, the company has won several accolades for its outstanding achievements.
Since its establishment in 2016, Powerledger has been working towards creating an efficient marketplace that can effectively handle the fluctuations in renewable energy compared to more stable fossil fuel sources. The company has achieved this by developing solutions for tracking, tracing, and trading renewable energy.
Powerledger has used the Ethereum blockchain to secure its $POWR token and leveraging Solana's technology to build its custom Powerledger Energy Blockchain.
The energy market is transforming from centralized to decentralized, and DePIN projects like Powerledger are at the forefront. These innovative projects tackle real-world challenges in agile ways that governments and corporations cannot compete with. People worldwide align with these projects' intentions to do good and give back while being paid for their contributions, and it's only right.
Conclusion
However, it's worth noting that these are DePIN verticals with some of the most stringent regulatory measures, particularly in the energy sector. Messari's recent report highlights that revenue in energy, compared to other verticals, has yet to take off.
This could be viewed as a warning sign but also indicates the potential for significant growth. So, let's buckle up for an exciting ride ahead!
From Messari and EV3's State of DePIN 2023 report
With hundreds of DePINs gaining momentum, launching their products, and expanding their networks, the year ahead will be wild. We’ve got you covered!