'DePIN Layer1' peaq "'Machine Economy', now beginning… will drive explosive growth" [Cointerview]

Leonardo Dorlöchter peaq co-founder interview

DePIN-specialized Layer-1 blockchain 'peaq'

"DePIN, the driving force of the 'Machine Economy' era"

"Focusing on ecosystem expansion for token value"

"Korea, an optimal environment… discussions with large corporations"

"In Web3, all information provided by users must be valued and rewarded accordingly. Through the 'Machine Economy' that peaq is building, machines and people can freely interact to create new value and directly own the outcomes"

Leonard Dorlöchter (Leonard Dorlöchter), peaq (PEAQ) co-founder, said this in an interview with BloomingBit on the 26th.

Peaq is a Layer-1 blockchain specialized for decentralized physical infrastructure networks (DePIN). DePIN refers to projects that apply blockchain-based economic systems to various devices such as energy and mobility. Users provide their data to devices and receive compensation in cryptoassets (cryptocurrency) or non-fungible tokens (NFTs).

Peaq's long-term ambition is even bigger. It aims not only to connect devices and data, but to open the era of the 'Machine Economy' where billions of machines — including AI, robots, and drones — and the activities of their users can all generate value.

Co-founder Dorlöchter emphasized, "For robotics and the AI era to take hold properly, the Machine Economy should not become the monopoly of a few big tech companies," and added, "peaq aims for an economy where machines and people participate as legitimate members of society, an economy owned by everyone."

"'Machine Economy', now beginning… will grow explosively"

Peaq was founded in 2017. Initially, it researched enterprise blockchain projects that combined the Internet of Things (IoT) and Web3 for businesses, but after collaborating with global brands such as Audi and Gucci and experiencing infrastructure limitations, it developed its own Layer-1 blockchain.

Recognizing this vision, peaq raised a total of 35 million dollars in 2024 from investors including Animoca Brands, HashKey Capital, and Borderless Capital.

Co-founder Dorlöchter said, "At first, investors often ignored us because they said we were talking about a too-distant future," and explained, "We decided a public blockchain that anyone can participate in is necessary to realize the Machine Economy."

He argued that the DePIN market has very high future growth potential and will be a growth driver for the Machine Economy. Co-founder Dorlöchter explained, "The advantage of DePIN is that it can be applied to various markets such as energy, telecom, data storage, and computing," and added, "There are analyses that the DePIN market could potentially grow into an industry worth trillions of dollars."

"Expanding the ecosystem to enhance token value"

Peaq's next goal is to lay the foundation for the Machine Economy by expanding its ecosystem. The core is to enhance the value of the token (PEAQ) through this ecosystem expansion. Currently, 58 projects including DePIN and real-world asset tokenization (RWA) participate in the peaq ecosystem. Most recently, peaq unveiled the world's first 'tokenized robo-farm.' The robo-farm automates agriculture using AI and robotics and shares profits with investors in the form of NFTs.

Co-founder Dorlöchter said, "The value of the peaq token ultimately follows the demand from projects within the ecosystem," and added, "We will focus on increasing token demand by increasing the number of projects that investors find attractive."

Peaq is also running a program called 'Get Real.' Get Real is a program where users complete missions through DePIN applications and receive rewards. Co-founder Dorlöchter said, "Get Real is designed to actively encourage user participation," and added, "We are preparing various promotions to grow the network going forward."

"Announced collaboration with Korean conglomerates"

Co-founder Dorlöchter, who showed great interest in the Korean market, said, "Korea has a high level of digital infrastructure and a high IoT penetration rate, making it an optimal environment to realize the Machine Economy," and added, "We are preparing mobile applications familiar to Korean users."

He also hinted at the possibility of collaboration with Korean conglomerates. Co-founder Dorlöchter said, "Korea's energy and robotics sectors are developing rapidly," and stated, "We are already engaging in active communication with Korean conglomerates." He added, "It would be suitable to start in areas such as energy grids, robot cafes, and smart farms."

He encouraged Korean investors to use DePIN. He said, "Many users provide data yet do not receive fair compensation," and said, "I hope they use peaq DePIN to experience tangible rewards."

BloomingBit reporter Jinuk wook9629@bloomingbit.io