NodeOps, a DePIN orchestration layer for general-purpose compute, has reported a major milestone followed by a rebranding announcement for a part of its business.
The company has surpassed $2.53 million in total revenue according to the latest data on Dune, securing the fourth position on the DePIN Revenue Leaderboard.
This achievement comes amid the company’s rebranding from Atlas Network to NodeOps Network, which was initially launched as an incentivized testnet.
The pilot attracted over 282,000 verified users and registered 3.44 million wallets.
The rebrand is part of a broader strategy to expand the NodeOps ecosystem, which currently comprises four key services: NodeOps Console, NodeOps Validator, NodeOps Cloud, and the upcoming Agent Terminal.
Over the past year, NodeOps has achieved several milestones, including finding product-market fit, scaling its Node-as-a-Service offering, and becoming cash flow positive.
Naman Kabra, CEO and Co-Founder of NodeOps, highlighted the company’s rapid growth:
NodeOps Network’s discovery phase indicates market demand far exceeding our early expectations. This positions us to scale effectively and unlock new offerings.”
NodeOps currently supports over 80 projects and has facilitated the deployment of more than 58,000 nodes.
Some of the popular protocols that node operators and developers can deploy nodes on via NodeOps include Movement Labs, Avail, CARV, Celestia, and Farcaster.
Nishant Sharma, Head of Strategy at NodeOps, emphasized the company’s position in the DePIN ecosystem:
NodeOps Network is uniquely placed in the DePIN infrastructure space; our incentivized testnet has attracted a significant number of active users and now supports over 80 chains. The latest ranking by the depin.ninja leaderboard, which places NodeOps as the fourth DePIN project in terms of revenue in 2024, is further testament to this value proposition.”
The DePIN sector, as a whole, has witnessed considerable growth. A recent report by Messari revealed that the niche attracted over $350 million in funding across Pre-Seed, Seed, and Series A rounds in 2024.
Additionally, the sector boasts of a total market cap exceeding $50 billion, with tokens trading at 100x annual recurring revenue (ARR).
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