If you've been actively searching for DePIN-related content lately, you must have stumbled upon the DePIN Connection YouTube channel by Bradley Meyer. Let us tell you, Brad is not just your average DePIN deployer; he is also a highly successful one. DePIN Hub recently contacted him to gain insights into his journey, what drives him, and his advice for those who aspire to follow in his footsteps. The $50K newsletter title is undoubtedly the real deal, as we'll soon discover below.
From Quarantine to Success
In 2020, Brad found himself in a 14-day quarantine and took advantage of the extra time to delve into the blockchain world. After discovering Helium, he set up shop in the DePIN space and became a successful entrepreneur. A long-term Hotspotty customer, Brad used their services to manage, optimize, and scale his Helium hotspot operations. Thanks to Hotspotty, Brad now runs 4 DePIN business lines, 3 built around deployments with impressive installation and fleet stats. The 4th line is focused on his DePIN YouTube channel, which has also contributed to his success.
Helium (60 rooftop installs) 📡
DIMO (170 vehicles connected) 🚗
Hivemapper (55 full-time drivers) 🗺
DePIN Earning Deployments
Brad's hobby has grown into a highly profitable business, earning him around $40-50k monthly across his DePIN projects. However, it is crucial for any deployer to thoroughly research a project's tokenomics and understand the implications of reward distributions.
Predicting earnings can be tricky, especially when working at scale for popular projects with extended delivery backorders.
To achieve growth in DePIN deployment, fleet management's hosting model is a crucial component. Brad initially scaled his Helium operations through Hotspotty's best-in-class fleet management software. Referrals have played a significant role in his growth, with approximately 40% of his hosts referred by other hosts.
Evaluating DePIN Projects
When it comes to choosing a DePIN project to invest your time and money into, the abundance of options can make it difficult to find the right one. However, Brad's 4-step checklist can help you evaluate potential projects with confidence.
Utility: What is the use case? How much revenue can the project generate? What is the differentiator that will capture market share?
Participation: Who is the target audience? What are the barriers to entry? Can the project gain enough participation to generate the necessary infrastructure or data?
Team: Are they doxxed? Do they have proof they can execute?
Tokenomics: How are the tokens distributed between the participants, the team, investors, and other categories? Are there any red flags?
It's not just Brad who has benefited from the DePIN projects. Many others, such as 5 Mile Trucker, have also seen significant success. 5 Mile Trucker has driven an impressive 1.8 million safe miles and earns money through the Natix network. This highlights the potential for profitability in the DePIN space and the variety of opportunities available to those involved.
Diego, a content creator on YouTube, generated $3,200 in passive income over a month through his involvement in the DePIN sector. He shares his experiences and strategies in a dedicated video on his channel, providing valuable insights for those interested in replicating his success.
In February, the CryptoJar YouTube channel received $759.33 in passive income through its involvement in the DePIN project. If you're interested in learning how they achieved this, check out their video detailing their experience.
Best DePINs to keep an eye out for
1. Cloud Computing/Storage:
Spheron Network, Filecoin, Arweave, Render, Akash, Nosana
2. Geo-Positioning:
Geodnet, Onocoy, NATIX Network, ELOOP
3. Pollution Control:
4. Weather Stations:
5. Flight Tracking:
6. Decentralized Rideshare:
Conclusion
In conclusion, a career in professional DePIN deployments can be a promising and rewarding path for individuals passionate about blockchain technology and willing to invest time and effort in research and development. There is significant potential for growth and success in this industry, particularly for those who approach it with a clear understanding of the risks involved and a well-thought-out strategy. To succeed, it's essential to carefully select the right projects, start small, and gradually scale up operations while continuously refining one's processes. With dedication, patience, and a long-term perspective, professionals in this field can achieve personal financial success and contribute to the evolution and adoption of innovative technologies that can potentially transform industries and society.
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