Yes, you read correctly: a blockchain for pets. Pets are everywhere and a blockchain technology could help to simplify the life of millions of pet owners worldwide. For example, how to register their identity or how to keep track of their health data in a resilient way. It’s the bet of Pawtocol (UPI): a blockchain designed for pets data to be shared, secured and used.
1. What is Pawtocol?
Pawtocol is a blockchain for pets powered by a token called UPI. It’s solving multiple problems with pets data today:
- poor pet health: the health of pets in general is not monitored enough
- very centralized data held by big corporations
- missing pets is still an unsolved issue in 2022
- difficulty to label pets for identity tracking
Better than a thousand words, here is a video explaining it in more details:
As explained in their whitepaper, the blockchain is organized around the pet with different needs, tackling various issues from adoption to health/rewards/treats:
A pet tag is used to register the pet on the blockchain, you can then mint an NFT for it, adopt through their market place and finally contribute to a micro-economy through their token:
Various problems are solved by the technology, namely:
2. Pawtocol team and roadmap
The team seems very solid:
The Founder and CEO have an impressive track record of ventures, one in the pet industry. The fact that the project started 6 years ago and that the founder actually cares about pets is proof (to me at least) that this is not a scam. Also, a vet is onboard:
The roadmap is based on 8 steps from vets to suppliers and wearables:
The recommendation engine on step 7 sounds really interesting, converting the data into value. This looks like a detail but it actually shows that there is a vision for the project with a long term view regarding the data. A recommendation engine can transform an average project into a very good one under the assumption that there is enough data.
3. Pawtocol as an investment
The UPI token has been very resilient during the bear market with nice volumes and people believing in the vision:
The market capitalization is currently around 17 million USD:
Here is the interesting moment. The whitepaper tries to quantify the size of the market they target:
If blockchain absorbs 10% of that market and if Pawtocol takes 10% of this, it’s 1% of 202 billion USD or 2 billion USD market cap target for 2025. This is a potential 100x in 3 years!
On the debatable part, there is the circulating supply, 25% of the total supply at the moment:
The amount locked is surprising and I couldn’t find the tockenomics information easily.
I like the project, a great community (a bit like stepn for runners) who want to simplify the life of pet owners and increase the quality of life of the pets themselves. This is a 200 billion USD addressable market with a tremendous amount of growth to come. The team is very impressive with people who know what they’re talking about. The UPI token is a very high risk token but potentially targeting 100x growth based on a quick market cap analysis. However, the tockenomics is unclear and tokens at the moment are quite centralized. This often leads to inflation and price manipulation. However, it’s fair to say that the reward might be worth the risk and that’s why I’m planning to allocate a small portion of my portfolio to this project.
Thanks for reading.
Disclaimer: this is not financial advice