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IoTeX Partners with DePIN X to Launch a $2M DePIN Fund

Twitter icon  •  Published 1 day ago  •  Hassan Maishera

On Wednesday, the IoTeX team announced via X that it has partnered with Depin X, a crypto-native VC-funded firm, to launch a $2 million DePIN fund.

On Wednesday, the IoTeX team announced via X that it has partnered with Depin X, a crypto-native VC-funded firm, to launch a $2 million DePIN fund. The fund will prioritize supporting IoTeX-based projects and DePIN X initiatives, providing both mining resources and powerful GPU AI computing power to drive ecosystem expansion and innovation. 

Through this fund, the two entities aim to attract more outstanding projects, innovators, and developers to foster the ongoing growth of the DePIN. The fund's launch comes a month after IoTeX and DePIN X announced a partnership to provide technical support, investment, and FA service to drive innovation and expand the application of blockchain projects.

IoTeX's mission is to be a privacy-centric blockchain managing the entire information lifecycle of an Internet of Things (IoT) network, including data collection, transport, storage, and utilization. IOTX is down 8% today and is currently trading at $0.03780. 

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Hassan Maishera

Hassan is a Nigeria-based financial content creator that has invested in many different blockchain projects, including Bitcoin, Ether, Stellar Lumens, Cardano, VeChain and Solana. He currently works as a financial markets and cryptocurrency writer and has contributed to a large number of the leading FX, stock and cryptocurrency blogs in the world.