Deppin's Project Puffpaw is pioneering a new “vape-to-earn” model that aims to wean smokers off harmful nicotine, offering the product to end users through tokenized incentives – and promoting the new product. NFT collection and vapes.
“The goal is to attract more real users,” PuffPaw co-founder Refo Tese told Decrypt. “If you're selling to real smokers, real consumers, they don't know anything about crypto,” he explained, adding, “We're creating a new consumer experience here.”
The upcoming Gen2 NFT collection will be launched in Korea by PuffPaw's strategic partner, BeraChain, which developed PuffPaw, and Korean vape and juice brand TREATs. Billed as “the most unique sales event in this multi-billion dollar industry,” the collection consists of 30,000 NFTs, each with a puffpaw box containing one vape and three pods.
The PuffPaw Genesis Collection is aimed at crypto investors, with airdrops and additional benefits for early adopters, the next wave of tools and NFTs aimed at end users, including sub-$100 shipping and customs clearance.
“It only covers our production costs to produce the vape and shipping costs, so we don't make any profit from selling the product from the second batch,” Tse explained. Instead, the goal is to reach a wider range of end users—customers who can purchase smart vapes and NFTs with fiat currency, extending the benefits of Puffpaw's “vape-to-earn” model.
PuffPaw's novel business model is to use financial incentives to help smokers and vapers quit nicotine.
Its Smart Vape uses a tea-extract-based nicotine-free e-liquid designed to help users gradually reduce and stop nicotine use. While the PuffPaw's closed-pod ecosystem includes pods with nicotine, the more nicotine in the pod, the more rewards you get, Tse said.
“We put Bluetooth modules into every pod and every vape machine,” he explained. The device connects via Bluetooth to a mobile app, which uses a wallet to log in and authenticate the user's Puffpaw NFT.
Puffpaw Smart Vape. Image: Puffpaw
“We can use a mobile app to track and record your smoking data—the duration of each puff, the time stamp of each puff, the nicotine level, the flavor,” he said. That information is recorded on-chain and determines how rewards are distributed to each user. “To maximize your financial rewards, you should go with non-nicotine pot, only smoke within a certain range each day, to have a high rarity of your NFT,” he explained.
To date, PuffPaw has attracted a diverse user base, with 50% of its customers based in South Korea and Japan, with the rest split between the US and Europe. “In the Web 3 world, it doesn't matter where you are. “We are focusing heavily on certain regions as our target markets,” said Tse, adding, “We are doing bigger business than infra projects in the Korean market, because this is a real, tangible consumer product.”
Puffpaw is a Korean community event. Image: Puffpaw
PuffPaw says it's working closely with “local, regional vape partners.” The company's business model has enabled it to compete with established vape giants on both pricing and supply chain logistics from day one, he said.
The objective is that while blockchain technology offers benefits to end-users, it is “the same product; The quality of the vape that you can compete with other generic products is the same, it's the same great tasting juice.
“Many young people are not affected by nicotine addiction. They say everyone is suffocating. “So we're giving anyone who smokes an option to help them quit nicotine.”
He added: “There are 1.3 billion smokers. If we can convert some smokers to vaping and stick with non-nicotine products, we will be contributing to the world.
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