In a move signalling increased growth and market demand, Network3, a cutting-edge DePIN (Decentralized Physical Infrastructure Networks) and AI protocol, recently announced the release of 5,000 additional N3 Edge V1 mining devices.
The expansion comes on the heels of several notable developments for the company, including successful funding rounds, strategic partnerships, and a quickly growing network of active devices.
For starters, in July, the company successfully raised $5.5 million as part of its pre-seed and seed events, allowing it to accelerate its team growth and continue developing its innovative tech stack. Key participants included Borderless Capital, EV3, IoTeX Eco fund, SNZ, Waterdrip Capital, and Bing Ventures.
Following the fundraisers, the company’s founder, Rock Zhang, emphasized his team’s continued focus on building a future-ready decentralized Edge AI infrastructure, a vision that seems to have already materialized into an impressive network of over 355,216 active nodes spread across 185 countries/regions (as per data from DePINscan).
Adding to its rapidly expanding ecosystem, it bears mentioning that Network3 has recently forged strategic partnerships with several prominent projects — such as Alterim AI, NOWChain, Star Protocol, and SFT Protocol — across the blockchain and AI sectors.
Each collaboration brings its unique strength to Network3, enhancing various aspects of the ecosystem, from social network aggregation and decentralized commerce infrastructure to improved staking liquidity and cloud node services.
Meeting increasing demand with increased supply
The decision to release an additional 5,000 N3 Edge V1 mining devices comes after the resounding success of the initial batch. The first 3,000 units sold out almost instantly during their presale launch. All of these devices are now fully operational and can be tracked via DePINscan.
From the outside looking in, the N3 Edge V1 is designed to be more than just a mining device, making it possible for a broader audience to engage with and benefit from the decentralized AI landscape.
Users can share their internet bandwidth to assist with network tasks, offering their device’s computational power to help perform operations. Additionally, they can contribute data from their devices to enhance data privacy and security, while also supporting the training of AI models.
Lastly, the N3 Edge V1 serves as a dual mining machine that can mine Network3’s native token and IoTeX tokens. Not only that, it is lightweight and offers high processing — all while being extremely easy to set up and use.
Future outlook
As Network3 continues to expand its mining operations, the company is also making strides in other areas. For instance, the firm’s next funding round is already underway, with several leading projects having confirmed their participation.
Furthermore, Network3 has commenced its token listing efforts, marking a crucial step in the project’s evolution since it is expected to increase liquidity and accessibility for Network3’s native token.
Looking ahead, the expansion of the firm’s mining operations, coupled with the aforementioned developments, has positioned Network3 at the forefront of the decentralized AI revolution. By distributing AI tasks across numerous devices, the company is working towards reducing latency while prioritizing privacy — a combination that is increasingly valuable in today’s data-driven world. Interesting times ahead!
