The competitive dynamics of crypto are novel — and unforgiving — because open composability doesn’t just enable innovation, it invites disruption.

The competitive dynamics of crypto are novel — and unforgiving — because open composability doesn’t just enable innovation, it invites disruption.

In this edition of the Variant newsletter, we’re talking about decentralized physical infrastructure networks, or DePIN. In Part 1, Alana focuses on where DePIN can solve supply-side challenges. In Part 2, she explores how it can sustainably boost demand.

In this edition of the Variant newsletter, we’re talking about decentralized physical infrastructure networks, or DePIN. In Part 1, Alana focuses on where DePIN can solve supply-side challenges. In Part 2, she explores how it can sustainably boost demand.

Many of the same ideas that inspired Bitcoin are now being used to decentralize AI. By leveraging the core principles behind Bitcoin’s success, we can build collective-intelligence networks that grow smarter and stronger with each new participant.

Many of the same ideas that inspired Bitcoin are now being used to decentralize AI. By leveraging the core principles behind Bitcoin’s success, we can build collective-intelligence networks that grow smarter and stronger with each new participant.

Pockets of real demand are emerging and beginning to provide a guidebook for markets that are well-suited to DePIN. Here’s how we’re thinking about what’s most interesting on the demand side of DePIN projects.

Pockets of real demand are emerging and beginning to provide a guidebook for markets that are well-suited to DePIN. Here’s how we’re thinking about what’s most interesting on the demand side of DePIN projects.

If the future of the internet involves a bazaar of agents paying each other for services, crypto will find a level of mainstream product-market fit it could previously only dream of.

If the future of the internet involves a bazaar of agents paying each other for services, crypto will find a level of mainstream product-market fit it could previously only dream of.

One of the areas where crypto can catalyze productivity gains is within the realm of physical infrastructure. Projects in this category are often referred to as DePINs (decentralized physical infrastructure networks).

One of the areas where crypto can catalyze productivity gains is within the realm of physical infrastructure. Projects in this category are often referred to as DePINs (decentralized physical infrastructure networks).

We’re excited to announce our pre-seed investment in Plastic Labs. The team has built Honcho, a plug-and-play platform that lets developers personalize any LLM app effortlessly.

We’re excited to announce our pre-seed investment in Plastic Labs. The team has built Honcho, a plug-and-play platform that lets developers personalize any LLM app effortlessly.