The funding will be used to expand the peaq DePIN ecosystem ahead of a public offering and mainnet launch.
Blockchain project peaq, a Layer 1 for decentralized physical infrastructure networks , has raised $15 million in a pre-launch multi-tranche funding round co-led by Generative Ventures and Borderless Capital.
The funding will be used to expand peaq’s ecosystem of more than 20 DePINs in areas including multi-chain machine IDs, AI agents and data verification, according to a statement shared with The Block. DePIN protocols are one of the newest growth niches for the crypto industry. DePINs leverage token incentives, composable with the broader DeFi ecosystem, to help bootstrap hardware networks, offering distributed networks of computers offering services like computing power and storage.
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