VanEck Invests $2,5 Million in DAWN, DePIN Project on Solana
- VanEck Invests $2,5 Million in DAWN DePIN
- DAWN democratizes the internet with Solana-based technology
- Solana Powers DePIN Projects with Decentralized Solutions
Traditional finance giant VanEck has announced a $2,5 million strategic investment in DAWN, a DePIN project based on the Solana blockchain. The initiative aims to decentralize internet access and challenge the monopolies of traditional internet service providers (ISPs).
Unveiling our investment in @dawninternet pic.twitter.com/x5r6WNGZUA
— VanEck (@vaneck_us) December 16, 2024
DAWN, which stands for Decentralized Autonomous Wireless Networks, is betting on DePIN (Decentralized Physical Infrastructure Networks) technology to replace costly fiber optic networks with smart wireless technologies. With this, it seeks to democratize global connectivity and offer more affordable alternatives to millions of users. The project proposes a model in which local operators can become part of the infrastructure and benefit from the decentralized system.
VanEck’s support for DAWN was made through VanEck Ventures and VanEck Digital Assets Alpha Fund, marking the first time the asset manager has allocated investments from two funds simultaneously to the same project. In addition to VanEck, DAWN already has the backing of prominent names in the crypto market, such as DragonFly Capital and Wintermute Ventures, which led a previous financing round of US$18 million in August 2024.
According to VanEck’s statement, current internet providers monopolize the market, charging prices that are far above the actual cost of service. DAWN estimates that consumers pay up to $70 to $100 per month, while actual delivery costs are less than $1. Through its partner Andrena, the project already serves more than 10 homes in 10 US states and plans to expand to 1,5 million homes in New York City alone.
VanEck’s vision for DAWN is clear: to transform the project into an “Airbnb of the internet,” where users not only save money but also actively participate in the decentralized network by providing and distributing the internet signal. According to Neil Chatterjee, CEO of Andrena, the network allows consumers to become “owners of the infrastructure that serves them,” creating a new model of participation and profit in the telecommunications market.
This move further strengthens VanEck’s position within the Solana ecosystem. Solana has established itself as one of the leading blockchains for DePIN projects due to its transaction speed and low operational cost. Protocols such as Helium and Hivemapper have already demonstrated the potential of this segment by attracting thousands of users and operators.
VanEck’s investment reinforces the growing trend of DePIN projects and signals a surge in institutional interest in decentralized infrastructure. This could represent a new phase for the crypto market, connecting blockchain applications directly to the physical world and generating real solutions to modern challenges.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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