The valuation of a heavyweight project in the DePIN field soars to $470 million, with ambitions to disrupt the cloud computing market.

Recently, an important piece of news in the DePIN track seems to have been underestimated by the market. A certain cloud computing project has recently received strategic investment from a well-known investment institution, with a valuation reaching 470 million USD. It is worth noting that this investment institution was an early investor in several successful technology companies. So, why has this cloud computing project been able to achieve such a high valuation recognition? What is unique about its claim to disrupt traditional cloud services? Let's analyze its technology and business logic in depth.

Problems in the Traditional Cloud Computing Market

Currently, the cloud computing market is dominated by a few tech giants, creating a new centralized structure. This structure has led to the following issues:

1. Service costs are continuously rising: Giants are increasing service prices year by year, forcing companies to accept the escalating cloud costs.
2. Users are deeply bound: Once the business is deployed on a certain cloud platform, the migration cost is high, and users can hardly escape.
3. Enterprises lose data sovereignty: User data is actually stored on service providers' servers, and privacy and security rely entirely on the platform.

Vision of Decentralized Cloud Infrastructure Network

This project aims to establish a decentralized cloud infrastructure network, designed to enable enterprises to regain data sovereignty, reduce costs, and avoid being locked in by a single vendor. This is precisely the core value proposition of DePIN - to reconstruct traditional physical infrastructure using blockchain technology and token economics, reclaiming control from centralized authorities.

Three-tiered decentralized architecture

The technical architecture of the project divides the traditional integrated cloud service into a three-tier "checks and balances" system:

1. Hardware Layer: Contributed by global hardware providers with enterprise-grade hardware devices, rather than ordinary PCs or idle computing power. This ensures the stability and reliability of the service, which is key to attracting enterprise-level clients.

2. Service Layer: Service providers build various cloud products on top of hardware resources. This layer emphasizes composability, allowing infrastructure to be reconfigured like building blocks, facilitating the birth of innovative services.

3. Monitoring Layer: This layer is responsible for monitoring and verifying service quality by specialized nodes. It addresses the common challenge of "malicious verification" faced by DePIN projects by introducing a verifiable proof mechanism.

These three layers are coordinated through specialized protocols to achieve market-based pricing and an automated reward and punishment mechanism, forming a self-regulating ecosystem.

Business Strategy and Progress

Unlike many blockchain projects, this project chooses to establish business operations and generate revenue before considering token issuance. According to the project party, they already have over 1,000 clients from Europe and the United States, with an annual revenue exceeding $5 million and a growth rate of 2,000%. It is expected that by the end of 2025, the contracted annual recurring revenue will reach $32.7 million.

The project chooses to focus on storage services as a starting point, concentrating on serving B2B enterprise clients. This strategy leverages the "data gravity" effect—once enterprise data is stored on the platform, subsequent computing and network services are also likely to migrate.

Token Economic Model

The token economic model of the project is highly aligned with its business logic:

1. Staking mechanism: Hardware providers must stake tokens to connect to the network, serving as a deposit for service quality.
2. Payment medium: Service providers purchase resources with tokens, creating real demand.
3. Reward Tools: Monitoring nodes and hardware providers receive token rewards for their contributions.

This design makes the token the "blood" of the network rather than merely a speculative tool, with its value stemming from actual business scale rather than market speculation.

Team Background and Investment Support

The project team has a strong background in Europe and the United States: the co-founder successfully brought a gaming company to the NASDAQ indirectly; core team members have rich experience in the gaming and cloud storage fields, and the Chief Technology Officer holds patents related to storage. The project has secured $18 million in funding, with investors spanning both Web3 and traditional sectors.

The latest investment institution entering manages $1.6 billion in assets and has been an early investor in several successful technology companies, which undoubtedly provides strong endorsement for the project's development prospects.

Market Prospects and Significance

According to predictions, the global cloud infrastructure market revenue is expected to reach $837.97 billion by 2034. The goal of this project is to become the "AWS of Web3", and even capturing a small portion of the market presents considerable business opportunities.

More importantly, this project represents the forefront of Web3 technology's penetration into core enterprise IT systems. It integrates the advantages of Web2 and Web3, opening a more pragmatic and feasible path for blockchain technology in enterprise-level applications.