In this episode, we catch up with Will for a look at the DePIN (Decentralised Physical Infrastructure Networks) space — what’s changed, what’s working, and where the big opportunities are.

We dig into the Crypto State of DePIN Report, which shows just how far the sector’s come since 2022. What was once a tiny, under-the-radar niche has exploded in 2025. Projects like Helium now run more than 60,000 mobile hotspots, and importantly we’re seeing real revenue flow through these networks.

Will points out the current “good problem” in the industry: there’s loads of supply (plenty of nodes, plenty of data) but not enough demand yet to soak it all up. Rather than being a setback, he sees it as the perfect time to focus on attracting customers who’ll actually pay for that data, locking in long-term value.

We unpack the journeys of Peak and Silencio, two projects Will knows inside-out as an ambassador. Both have gone for a compliance-first, slow-and-steady approach to launching tokens — which means fewer legal headaches, but also some delays that have tested community patience. Peak’s “Get Real” campaign and Silencio’s niche focus on monetising noise pollution data are standout moves in their own right.

Will also shares highlights from ETH Denver, where as he puts it the main conference is good, but the real magic happens at the side events. As MC of the “DePIN Dinner,” he connected builders, sparked collaborations, and had the sort of valuable, open conversations you don’t get on a show floor.

Then there’s DePIN Happy Hour, Will’s weekly unscripted livestream with other industry voices. It’s part banter, part brain dump — a space where they talk DePIN, Web3, and RWAs without the corporate polish, often with a beer in hand. It’s all about making complex ideas easy to grasp and fun to talk about.

Chapters

00:00 – Welcome & Life Updates

02:00 – State of DePIN 2024 Overview

05:50 – Supply vs Demand Challenges

09:40 – Community Building in DePIN

12:50 – Peak & Silencio Token Launches

18:00 – ETH Denver Highlights & Side Events

26:00 – What’s DePIN Happy Hour?

30:00 – Bear Market Tips & Earning on the Side

33:30 – Closing Thoughts

Bullet Points

DePIN’s growth from small niche to serious Web3 sector

Oversupply issues creating a push for real demand

Peak & Silencio: compliance-first token launches

ETH Denver side events delivering the strongest connections

DePIN Happy Hour: industry insights with a casual twist

Bear markets as the best time to build and earn

Key Topics

DePIN sector growth and revenue trends

Balancing supply with sustainable demand

Token launch strategies that avoid legal risk

Networking beyond the main conference stage

Earning with DePIN without big upfront costs

Thought-Provoking Questions

How can DePIN projects turn oversupply into a growth advantage?

Does a slower, compliant launch set a project up for greater success?

Is a bear market the smartest time for newcomers to start in DePIN?