Peaq’s ‘DePIN Layer 1’: “The ‘Machine Economy’ is just beginning… it will drive explosive growth” [Cointerview]

Interview with Leonard Dorlöchter, co-founder of peaq

DePIN-specialized Layer 1 blockchain ‘peaq’

“DePIN is the engine of the ‘Machine Economy’ era”

“Focused on expanding the ecosystem to support token value”

“Korea is an optimal environment… in talks with conglomerates”

“In Web3, every piece of information users provide should be assigned value, and rewards should be returned accordingly. Through the ‘Machine Economy’ peaq is building, we will help machines and people interact freely to create new value—and enable them to directly own the results.”

Leonard Dorlöchter, co-founder of peaq (PEAQ), 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 a wide range of devices, including energy and mobility. Users provide their data to devices and receive compensation in virtual assets (cryptocurrencies) or non-fungible tokens (NFTs).

Peaq’s long-term ambition goes further. Rather than stopping at simply connecting devices and data, it aims to usher in a ‘Machine Economy’ era in which the activities of billions of machines—such as AI, robots, and drones—and their users can generate value.

Dorlöchter emphasized that “for the era of robotics and AI to truly take hold, the Machine Economy must not become the exclusive domain of a handful of Big Tech companies,” adding that “peaq is pursuing an economy where machines and people participate together as legitimate members of society—an economy owned by everyone.”

“The ‘Machine Economy’ is just beginning… it will grow explosively”

Peaq was founded in 2017. It initially researched enterprise blockchain projects that combine the Internet of Things (IoT) with Web3 for corporate clients, but after collaborating with global brands such as Audi and Gucci, it felt the limits of existing infrastructure and went on to develop its own Layer 1 blockchain.

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

Dorlöchter said, “At first, we were often shunned by investors for talking about something too far into the future,” adding, “To realize the Machine Economy, we concluded that a public blockchain that anyone can participate in is necessary.”

He also argued that the DePIN market has very high growth potential and will become a key driver of the Machine Economy. “The advantage of DePIN is that it can be applied across diverse markets such as energy, telecom, data storage, and computing,” he said, adding that “some analyses suggest the DePIN market could potentially grow into a multi-trillion-dollar industry.”

“Expanding the ecosystem to bolster token value”

Peaq’s next goal is to lay the groundwork for the Machine Economy by expanding its ecosystem. The core is to bolster the value of its token (PEAQ) through that expansion. Currently, 58 projects—including DePIN and real-world asset tokenization (RWA)—are participating in the peaq ecosystem. Most recently, it unveiled the world’s first ‘tokenized robofarm.’ The robofarm is a model that automates agriculture using AI and robotics, and shares profits with investors in the form of NFTs.

Dorlöchter said, “The value of the peaq token ultimately follows demand for projects within the ecosystem,” adding, “We will focus on increasing token demand by expanding the number of projects that investors can find compelling.”

Peaq is also running a program called ‘Get Real.’ Get Real is a program in which users can complete missions through DePIN applications and receive rewards. Dorlöchter said, “Get Real was designed to actively encourage user participation,” adding, “We are preparing various promotions going forward to drive network growth.”

“Collaboration with Korean conglomerates signaled”

Expressing strong interest in the Korean market, Dorlöchter said, “Korea has world-class digital infrastructure and a high IoT penetration rate, making it an optimal environment to realize the Machine Economy,” adding, “We are preparing a mobile application that Korean users will be familiar with.”

He also hinted at the possibility of collaborating with Korean conglomerates. “Korea’s energy and robotics sectors are developing quickly,” he said, adding, “We are already engaged in active communication with Korean conglomerates.” He added, “It would be suitable to start in areas such as energy grids, robot cafés, and smart farms.”

He also encouraged Korean investors to use DePIN. “Many users provide data but do not receive fair compensation,” he said, adding, “I hope they experience tangible rewards by using peaq DePIN.”