What if you had a phone, or better, a solar panel that earns you money while you sleep? What if your household appliances could be able to earn you crypto 24 hours a day just for doing their functions as usual, for example, by collecting data? Sounds from a futuristic movie, of course, but this isn’t science fiction anymore. It’s happening right now through the machine economy.
Here, Jing Sun, one of the founders of IoTeX, tells us how their company is actually paving the way in that future. Real-world devices will go into dedicated special networks, which are called Decentralized Physical Infrastructure Networks (DePIN), and then your devices earn real money, all this without the need to trade or manage it all the time.
Want to know how that will turn into your gadgets becoming personal earners? Let’s get into it!
1. Understand the “Machine Economy”: Your Gadgets, Your Paycheck
First, let’s get a handle on what this “machine economy” even is. You’ve probably heard of DeFi, which is about making finance decentralized. Well, DePIN is kind of like that, but for physical stuff. Think of it as “MachineFi” – turning the information or resources from machines into a way to make money.
Instead of huge companies or governments owning all the big infrastructure (like GPS systems or weather stations), DePIN projects let regular people like you contribute data from your own devices. You become part of a big, shared network, and in return, you get paid. IoTeX builds the main “highway” (a Layer 1 blockchain) that lets all these devices talk to AI models and businesses, turning their data into something valuable.
2. Become a GPS Data Miner with a Simple Tracker
Imagine buying a small GPS device, setting it up in your city, and having it earn you money. That’s exactly what projects like GEODNET, built on IoTeX, are doing. These little nodes collect super precise GPS data. Why is that valuable? Because companies building robots, self-driving cars, or advanced mapping systems need incredibly accurate location info.
So, you buy a GEODNET node (they might cost a few hundred bucks), deploy it, and it silently sends that valuable GPS data to the network. In return, you earn tokens, almost like a steady “basic income” from your gadget. It’s truly “plug-and-play” crypto – no complex trading needed. You can even track your earnings live on IoTeX’s DePINScan dashboard.
3. Turn Your Solar Panels into Profit with Energy Data
If you’ve got solar panels on your roof, they’re already saving you money. But what if they could make you money too? Projects like Glow, also on IoTeX, are exploring ways for your solar panels to contribute to a decentralized energy network.
By sharing data about the energy your panels produce, you could earn rewards. This helps build a more distributed and efficient energy system, especially in areas where traditional power grids might not be as strong. Your clean energy efforts get a double bonus: helping the planet and boosting your wallet with crypto.
4. Help Track Flights (and Get Paid!) from Your Home
Think about all those airplanes flying overhead. What if you could help track them and earn crypto for it? Wingbits, another project running on IoTeX, lets you do just that. By deploying a small device, you contribute to a community-powered flight tracking network.
This data is useful for many reasons, from improving air traffic management to providing more accurate flight information to apps. For simply running a device and contributing, you get paid in tokens. It’s a cool way to be part of a global system and earn passive income right from your own home.
5. It’s “Plug-and-Play” Crypto: Easier Than You Think
The best part about this machine economy built by IoTeX is how accessible it is. You don’t need to be a crypto wizard or a full-time trader. Jing Sun emphasizes that you and I can simply buy these devices, set them up in our cities, and operate them. They gather data, sell it to the networks, and the networks pay you in tokens.
It’s about becoming an “operator of a diverse machine network” and earning rewards for the valuable data your devices provide. This idea of machines being the biggest users of blockchain for payments and automation isn’t far off. IoTeX is already laying the groundwork, building the system where devices can have identities and prove their data is real. So, get ready – your gadgets might just be your next big source of income!
