Konstantin Tkachuk

Every infrastructure sector in modern history developed using the same playbook.

AI did not invent any new attacks or any new economic vulnerabilities.

DePIN is a $10 billion-plus market cap sector. 423 tracked projects. 41.8 million devices deployed across the globe.

I’ve been sitting with this question since May 2025, when I first learned about Anarchism from a political science perspective from a podcast (kudos @eschulmann).

If you had pitched a “crowdsourced infrastructure” (later DePIN) to a room full of VCs in 2021, the conversation would have inevitably drifted toward token prices, staking APYs, and how fast you could bootstrap a map full of dots.