Framework Ventures is leading a $10 million investment round for Uplink, a business that aims to democratise internet access.
As a Decentralised Physical Infrastructure Network (DePIN), the company operates in a market that data provider Messari projects could be worth $3.5 trillion by 2028. DePIN initiatives use tokens to encourage individuals to crowdsource the infrastructure and link blockchain technology with physical systems.
Improved distributed and user-operated infrastructure is the goal of uplink, which offers decentralised network connectivity. Reducing dependency on conventional centralised telecommunication carriers is the objective, according to the business.
Tokens will be awarded to users and businesses for their contributions to and use of the network. They can install gear that is compatible with the Uplink network or integrate their current infrastructure into it for their business or community. Later this year, the business intends to create a token.
“More users will be able to access connectivity wherever Uplink offers coverage and flag areas of need where it does not by creating financial incentives that encourage people to increase DePin-powered internet access,” the business stated in the news announcement.
Framework Ventures claims that most DePIN projects—including Helium—have traditionally approached the early deployment of the network and devices with a retail-focused strategy. Helium, with an almost $1 billion market valuation, is undoubtedly one of the biggest and original DePIN ventures.
Rather, Uplink is giving priority to big business alliances for first distribution. Our best guess for early adoption of DePIN, in our opinion, will come from corporations that can actively support fleet deployment, according to Framework Ventures.
According to the statement, Uplink, which was founded in 2016, worked with Ericsson, Deutsche Telekom, and E.ON.