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DePIN platform peaq has added major European enterprises and research institutions to its genesis node pool, marking a significant step in enterprise adoption of Web3 technologies. As peaq reported, the launch includes Bertelsmann Investments, Deutsche Telekom, Lufthansa Innovation Hub, and the Technical University of Munich (TUM), entities with combined holdings exceeding $170 billion.
The integration of these organizations into peaq’s ecosystem illustrates growing interest in DePIN, which connect real-world services with blockchain technologies. By participating in the network’s genesis node pool, these entities will play a crucial role in securing the blockchain’s decentralized infrastructure, contributing to its stability and operational efficiency as it progresses toward wider enterprise adoption.
peaq growth and development
The layer-1 blockchain has been actively developing its ecosystem and forging partnerships to bridge the gap between Web3 and real-world applications.
In April 2023, peaq received major migrations from decentralized mapping projects, including MapMetrics and NATIX Network. MapMetrics, a Web3 drive-to-earn platform, migrated from Solana to peaq to leverage its DePIN-focused features and growing enterprise ecosystem. NATIX Network successfully integrated peaq IDs into its street-mapping DePIN, utilizing the decentralized machine identity within its Drive& app for real-time geospatial data collection.
More recently, peaq has been gearing up for its mainnet launch between Sept. 22 and Sept. 30. In March, peaq’s co-founder Leonard Dorlochter announced that these events were “closing in by the day” following a successful $15 million pre-launch funding round. The peaq token launched on CoinList in May.
The substantial investment highlighted the growing interest in the DePIN space, which Messari estimates could reach a market potential of $3.5 trillion by 2028. peaq’s focus on providing a robust, scalable, and interoperable platform for DePINs, coupled with its growing ecosystem and industry partnerships, positions it as a key player in this emerging sector.
peaq Enterprice Adoption program
Per peaq, this initiative serves as the pilot for its Enterprise Adoption program, aiming to foster collaboration between DePIN projects and established global businesses. The program connects leading corporations with the DePIN ecosystem, offering updates, consulting sessions, and early funding opportunities for innovative projects.
Jan Rettel, Senior Vice President at Bertelsmann Investments, highlighted the potential of peaq’s DePIN-powered “Economy of Things.” Deutsche Telekom’s Dirk Röder emphasized the company’s support for peaq’s infrastructure, while Lufthansa’s Steffen Boller pointed to future applications in avionics projects, including flight tracking initiatives.peaq’s genesis node pool, initially capped at 32 active nodes, is supported by tokens staked by both node operators and delegators. This structure aims to maintain open participation for various stakeholders, including enterprises, infrastructure providers, and community members.
Paul Momtaz, a professor at TUM’s School of Management, noted peaq’s position to lead the shift in managing decentralized infrastructures. Leonard Dorlöchter, peaq’s co-founder, emphasized that the collaboration with entities like Deutsche Telekom and Bertelsmann Investments demonstrates growing recognition of blockchain’s role in reshaping traditional industries.
This development represents a convergence of traditional business models with emerging Web3 technologies. The integration of major enterprises into peaq’s network infrastructure may accelerate the adoption of blockchain-based solutions across various sectors, potentially reshaping industry standards and operational practices.
However, the success of this initiative will depend on the ability of these partnerships to deliver practical, scalable solutions that address real-world challenges while leveraging blockchain technology’s unique properties.
As the initiative gets underway, it will provide insights into the practical applications and challenges of integrating DePIN solutions into established business models, potentially influencing future developments in the intersection of blockchain and traditional industries.