Quick take:
- Unlike other DePINs that tend to take a retail-focused approach to distribution, Uplink is prioritising larger enterprise partnerships for the initial distribution.
- The network will reward enterprises with tokens for either contributing or using the network.
- The company has already collaborated with leading telecommunications companies including Ericsson, Deutsche Telekom, and E.ON.
Uplink, a decentralised physical infrastructure network (DePIN) founded by Carlos Lei Santos in 2016 has completed a $10 million funding round led by Framework Ventures.
DePINs use blockchain technology to reward communities for their contributions to the development of physical infrastructure networks like electric vehicle charging networks and telecommunication networks, among others.
DePINs are emerging as the next crypto buzz in 2024, with crypto research firm Messari predicting a market value of $3.5 trillion by 2028.
Uplink is taking a different approach from other DePIN networks that chose a retail-focused distribution. According to the announcement, the company will focus its initial distribution on large enterprise partnerships, an approach that lead investor Framework Ventures is excited to see play out.
“We think in DePIN’s nascent stage, our best bet for initial adoption will come from conglomerates that can actively help push fleet deployment,” said Framework Ventures.
The company said it has already made some key milestones in the onboarding process, partnering with some of the largest telecommunications and mobility networks including Ericsson, Deutsche Telekom, and E.ON.
Uplink is on a mission to reduce the reliance on traditional centralised telecommunication providers with its decentralised network connectivity. The company’s platform allows enterprises to integrate their existing infrastructure into the Uplink network or install compatible hardware for their communities.
“By creating financial incentives that encourage people to increase DePin-powered internet access, more users will then be able to access connectivity wherever Uplink offers coverage and flag areas of need where it does not,” Uplink said in a press release on Thursday, also revealing a token launch is planned for later this year.
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