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Monday, May 27, 2024

JDI Invests $10M into MXC Foundation to Advance Ethereum’s Largest DePIN Network

Last updated Monday, March 18, 2024 17:26 ET , Source: ThronePR

This latest Investment propels MXC’s Dominance within the DePin network

Singapore, Singapore , 03/18/2024 / SubmitMyPR /

JDI Ventures, a prominent DePIN investment fund under the blockchain hardware manufacturer JDI Global, has announced a strategic investment of $10 million in the MXC Foundation. This significant investment is set to drive the development of Ethereum's most expansive Decentralized Physical Infrastructure Network (DePIN), solidifying MXC's position as a key player in the decentralized technology landscape.

"Coupled with invaluable hardware development expertise and market influence, JDI Global has been instrumental in propelling MXC's vision forward," said Aaron Wagener, leading Operations at Meta X Connect. "Since inception in 2017, MXC has diligently cultivated a robust technical foundation within the DePIN space. This foundation has not only paved the way for innovative solutions but also positioned us as leaders in driving advancements within the decentralized technology landscape."

JDI's investment in MXC includes a focus on DePIN tokens, with plans to list these tokens on MXC's AXS (native dApp), thereby amplifying the network's reach and solidifying its position as the largest DePIN Network in the Internet of Things (IoT) sector. JDI's latest investment in DePIN includes DIMO, further diversifying its portfolio and strengthening its support for decentralized technologies.

Commenting on the investment, Yiming Wang, JDI Global CEO, said, "We believe that MXC has many advantages, from market positioning to technical architecture to ecosystem construction. Our investment reflects our confidence in MXC's ability to drive innovation and adoption in the decentralized space."

JDI's extensive experience and prominent position in the decentralized technology landscape, including its status as the largest miner community of Helium, exemplify its forward-thinking vision for the future. Their decision to invest in MXC underscores the growing recognition of MXC's potential to lead the DePIN revolution.

About JDI Ventures

JDI Ventures is a leading investment fund specializing in decentralized technologies, committed to driving innovation and adoption within the blockchain space. Backed by JDI Global, JDI Ventures plays a pivotal role in shaping the future of decentralized ecosystems.

About MXC Foundation

MXC Foundation is a pioneering organization dedicated to revolutionizing the connectivity of physical devices through decentralized technology. Beginning in 2017, MXC has emerged as a leader in the DePIN space, leveraging LPWAN technology and Layer3 solutions to enable seamless data communication and monetization. With a focus on promoting innovation, collaboration, and community engagement, MXC Foundation is committed to building the infrastructure for the future of decentralized Internet of Things (IoT).

Media Contact:

Robert Penington

[email protected]

Original Source of the original story >> JDI Invests $10M into MXC Foundation to Advance Ethereum’s Largest DePIN Network