September 05, 2024
Puffpaw is an upcoming project that aims to use token incentives and blockchain-enabled vapes to help people quit nicotine. The project plans to sell special vapes that track users’ smoking habits on the blockchain and reward them with tokens for reducing their nicotine intake. Puffpaw is one of several startups relying on the soon-to-launch Berachain blockchain and has raised $6 million in seed funding led by Lemniscap Ventures.
Project | Latest Raise | Latest Raise Date | Stage | Lead Investor | Category |
|---|---|---|---|---|---|
Puffpaw | $6M | September 5, 2024 | Seed Round | Lemniscap Ventures | X-To-Earn |
Lemniscap’s General Partner, Shaishav Todi, described the investment as a bet on decentralized physical infrastructure (DePIN). He highlighted Puffpaw’s potential for mass adoption due to the growing demand for health-conscious vaping solutions.
Puffpaw’s model creates a self-sustaining ecosystem where users can only take a limited number of puffs per day from their special vapes. They earn more tokens for using lower-nicotine cartridges, which can be used to buy more cartridges from Puffpaw. The project also includes social bonuses for interacting with other Puffpaw users.
The project addresses potential system abuse, such as users trying to “farm” tokens by using multiple vapes simultaneously. However, there are concerns about users being dishonest about their smoking habits by using non-blockchain vapes while collecting tokens from Puffpaw’s devices.
Puffpaw’s seed round also saw investments from Volt Capital, Spartan, Folius Ventures, Karatage, Seed Club Ventures, Hypersphere, Panga Capital, EVG, Corner, Social Graph Venture, and Nonce Classic.
About Puffpaw
Puffpaw is a project that aims to help people quit smoking by using blockchain technology and token incentives. They sell special vapes that track your smoking habits and reward you with tokens for reducing your nicotine intake. These tokens can be used to buy more vape cartridges. The project is part of the decentralized AI movement and has received significant funding to support its mission.
Website: https://www.puffpaw.xyz/
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About Investor
Investor: Leminscap
Lemniscap is an investment firm that specializes in investments in emerging cryptoassets and blockchain startups. They believe that blockchain technology will revolutionize traditional business models, leading to significant changes in the global economy. Their primary goal is to drive this transformation towards a more decentralized and transparent future.
The team at Lemniscap comprises talented individuals with backgrounds in financial markets, PE/VC, technology, and entrepreneurship. They have been involved in the blockchain space since 2014 as both investors and advisors, and they leverage their deep relationships with other participants in the ecosystem.
Location: George Town, KY
Website: https://lemniscap.com/
A central focus of investor activity in the cryptocurrency space is the evaluation of new crypto projects to invest in, particularly those with huge potential. This blog provides insight into what new ventures are benefiting from venture capital support (VC funding in crypto). These new crypto projects, funded by professional investors, can dictate the next narrative in crypto and the next big crypto movers.
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