DePIN blockchain 'peaq' with public token launch

DePIN is considered one of the biggest hypes in the blockchain space. With the public token launch, peaq (the name of the blockchain) raised $20 million in capital.

"The token launch on CoinList was a big step toward becoming a truly "community-driven" organization," said peaq co-founder Till Wendler. According to CoinList, peaq's launch was the largest on the platform in two years.

peaq is a layer-1 blockchain for DePIN and dApps, which use tokens to develop real-world infrastructure projects such as the world's first robo-cafe with tokens and an agribusiness platform. DePIN is a decentralized application that uses blockchain tokens to digitally map real-world physical applications. DePIN is currently one of the biggest hypes in the blockchain space. It analysis portal Messari estimates the sector's value at $3.5 trillion by 2028.

More than 20 applications in eight industries and more than 250,000 devices, vehicles, machines and robots (machine RWAs) run on peaq. The company also plans to expand with 15 million raised from institutional investors as part of a capital round.