London-based Web3 investor and accelerator Outlier Ventures has partnered with peaq, the layer-1 blockchain dedicated to real-world applications, to launch the DePIN Base Camp accelerator program. This initiative underscores a strategic pivot towards leveraging blockchain technology not just in the digital space but in tangible, real-world infrastructure development.
DePINs represent a forward-thinking approach to building out physical infrastructure, such as smart sensors and Web access points, through the innovative use of tokenization to facilitate crowd-sourcing. As these projects start making significant inroads beyond the digital, expanding into sectors traditionally dominated by centralized entities like telecom and technology, the timing of the DePIN Base Camp could not be more opportune.
The enthusiasm surrounding the DePIN Base Camp is palpable, with Max Thake, Co-founder of peaq, highlighting the sector’s potential for real-world application as a major draw.
“DePIN is the most exciting Web3 sector. It’s what everyone’s been waiting for — real-world use. Blockchain-based applications that anyone can use and want to use,” Max said.
“peaq was purpose-built to power DePINs, so we’re looking forward to providing the best possible network for the next generation of visionary DePIN founders,” Max added.
Thake’s remarks emphasize the collaborative effort’s focus on launching projects with significant, tangible impacts, utilizing peaq’s blockchain infrastructure designed explicitly for DePIN applications.
Benjamin Meyer, Chief Product Officer, Outlier Ventures, pointed out: “DePIN is breaking new ground, extending its reach from digital resources into data/ IoT and social platforms as it becomes more widely adopted.”
DePIN Base Camp Accelerator Program
The 12-week accelerator program is designed to support and nurture the best and brightest founders from around the globe, offering up to $200,000 in investment.
Participants can look forward to a comprehensive suite of resources including virtual workshops, mentoring sessions, and a culminating virtual Demo Day, aimed at showcasing their ventures to a wider audience of potential investors.
The selection of peaq as a partner in this venture is strategic. Peaq’s layer-1 blockchain, specifically focused on DePIN applications, alongside its Modular DePIN Functions and sister network, krest, offers an unparalleled platform for startups to build upon.
Outlier Ventures and peaq’s in-house team of experts plan to provide bespoke support tailored to each startup’s specific needs. This comprehensive approach covers a broad spectrum of segments crucial for the development and deployment of DePINs, from data networks and IoT service networks to decentralized digital infrastructure and AI-enabled user experiences.
As the DePIN Base Camp prepares to welcome its first cohort, the broader implications for the Web3 and blockchain industries are significant. This program is not just about funding and mentorship; it’s a concerted effort to foster innovation that bridges the gap between blockchain technology and practical, real-world utility.
By focusing on decentralized physical infrastructure, Outlier Ventures and peaq are setting the stage for a new era of digital transformation that promises to decentralize and democratize access to essential services and infrastructure.
Applications for the DePIN Base Camp program are open now and will close in April, 2024.
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