Moody's Ratings has published its first report on the DePIN (decentralized physical infrastructure) sector, highlighting its potential to scale and innovate existing networks.

- DePIN can improve network reliability and efficiency, reduce operational costs.

- Key hurdles: unclear regulations, cyber risks, need for large investments.

- Example: Helium (HNT), which has attracted over 350,000 participants.

Moody's notes that DePIN is becoming increasingly attractive to venture investors, with $583 million in investments this year.