Game studio Moku will open the Pupkins Gen 0 mint on October 27 at 11 a.m. ET as a “no-loss” raffle — meaning every ticket that does not win a NFT gets its deposit refunded, a format designed to remove the fear of walking away empty-handed.
By Jordan Lee | October 20, 2026
If you have watched the NFT market lately, you know the old playbook — frantic mint days, gas fee wars, and losers holding nothing. The Pupkins Gen 0 drop, detailed by Moku in a thread on X on October 16 and reported by eGamers.io, flips that script. Losing tickets are refunded within a week of the raffle closing, and the tickets themselves are priced in SCHIFFY, a token tied to the project’s ecosystem rather than in plain cash upfront. For everyday investors, the appeal is simple: the worst-case outcome is getting your deposit back, not losing it.
Here is what the mint involves, how the raffle math works, and what regular investors should weigh before jumping in.
Collection Mechanics: 2,000 Boxes, Two Pupkins Each
The Pupkins Gen 0 supply is strictly limited. According to Moku’s announcement:
- 2,000 Boxes total — each Box contains two Pupkin NFTs
- 1,800 Boxes available through the raffle — the rest, 200 Boxes, are reserved for partnerships and treasury
- Mint time — October 27 at 11 a.m. ET (3 p.m. UTC)
- Ticket price — a fixed amount of SCHIFFY per ticket, with the exact figure to be announced closer to mint day
There is no cap on tickets. Every additional multiple of the ticket price adds one more entry. “Deposit a set amount of Schiffy per 1 ticket, as many tickets as you want,” Moku said. Each winning ticket earns one Box, and every losing ticket gets its deposit back.
How the Weighted Draw Works
If demand exceeds the 1,800 Boxes on offer, winners are chosen in a weighted draw rather than pure luck. Three factors raise your odds, according to Moku:
- How many tickets you bought — more tickets, more weight
- How many Moki NFTs and SCHIFFY tokens you hold — existing ecosystem holders get an edge
- How early you deposited — earlier deposits carry more weight
The studio walked through the refund math with an example: if the ticket price were 10,000 SCHIFFY, a buyer depositing 50,000 SCHIFFY would hold five tickets. Winning three Boxes would mean 20,000 SCHIFFY is returned. It is a bit like a raffle at a county fair where the organizer hands back the price of every losing stub — except the “stub” here is a blockchain deposit anyone can verify.
Utility and Perks: An NFT That Is Also a Wallet
The most unusual feature is what sits inside each Pupkin. Every Pupkin NFT doubles as a wallet holding tokenized stock and SCHIFFY — the breed of a Pup decides which stocks it carries. “Trade the Pup and the stocks go with it. Unwrap the Pup and you’ll get the assets inside,” Moku said. In plain terms, the NFT is a container: sell the container and its contents travel with it; crack it open and you keep the assets.
Gen 0 owners also get two perks later generations will not have. First, a royalty cut of breeding fees across their entire bloodline — whenever descendants of a Gen 0 Pup are bred, the original owner earns a share of the fee, though Moku has not said what percentage. Second, pure traits from the Pup’s respective class, giving early owners more control over breeding outcomes.
At launch, Pupkins can be used in three game modes — Battle, Farm, and Dungeons — with a Pup’s traits setting its abilities in each. A hub called Whale Village is already open to players.
Getting SCHIFFY — and the Scam Warning
Because tickets are priced in SCHIFFY, buyers need the token first. Moku listed Uniswap for cross-chain purchases, along with OpenSea, Fomo, and Pump.fun, and published the official contract address on X. The studio closed its announcement with a warning worth repeating: “We will never DM you,” and advised buyers to use only the official SCHIFFY contract address. Fake contract addresses are among the most common NFT scam vectors, and mint weeks attract impostors.
For background, Pupkins is the newest addition to Moku’s game lineup, which includes Grand Arena. In its October 8 newsletter, the Ronin network said Moku had “welcomed Pupkins into its growing universe.” The Moki Genesis collection of 8,887 characters sits at the center of the ecosystem, and holding Moki NFTs raises a buyer’s weight in the draw.
Final Verdict: What This Means for Everyday Investors
A no-loss raffle lowers one barrier — the risk of a total loss on mint day — but it does not remove the bigger question: what will the NFTs be worth afterward? The refunds protect your deposit, not the future value of a Pupkin. With that in mind:
- Refunds cap your downside — losing tickets get deposits back within a week, so the format itself is unusually forgiving
- You must buy SCHIFFY first — the ticket is priced in a volatile ecosystem token, so its value can move between buying it and the refund
- Gen 0 perks are permanent — breeding-fee royalties and pure traits give early holders advantages later buyers cannot get
- Stick to official channels — use only the contract address Moku published, and ignore anyone who DMs you about the mint
- Treat it as entertainment capital — a game NFT with stock-carrying mechanics is a speculative bet, not a savings plan
The Pupkins Gen 0 mint is one of the more thoughtful twists on NFT distribution this cycle: scarce supply, refunded losers, and real utility inside the token. If the ecosystem delivers on its game modes and breeding economy, Gen 0 holders hold the best seat in the house. If it does not, at least the raffle hands back what you put in.
The cryptocurrency market remains highly volatile. This article is for informational purposes only and does not constitute financial advice.
refund within a week sounds nice but your deposit sits in SCHIFFY the whole raffle. thats the fine print nobody in the discord is reading
Exactly. The no-loss framing only holds if SCHIFFY does not move while your funds are locked. Token-denominated refunds are doing a lot of quiet work here.
11am ET on a tuesday means flippers and bots eat the gen 0 supply before anyone with a job checks their phone. format is better than gas wars tho, ill give moku that
tuesday 11am ET is brutal for anyone with a job. asia gets it at midnight, europe mid afternoon, bots eat the gen 0 supply either way
same complaint every single mint. set an alarm, it’s one tuesday, you’ll survive
Question the article skips: does the refund come back in SCHIFFY or in the original currency? If the token drops 20 percent mid-raffle, no-loss is marketing.
article says the refund comes back in SCHIFFY, read it twice. so the refund is a token you still have to sell lol, calling that no-loss is wild
the ‘no-loss’ angle only works if SCHIFFY holds its price between the raffle and the refund window a week later. thats the part nobody mentions
the SCHIFFY leg is the whole trade honestly. the refund protects the ticket, nothing protects the week you sit in the token waiting for the draw
200 boxes out of 2000 reserved for partnerships and treasury before anyone even mints. 10% off the top, standard stuff but worth knowing
10 percent off the top is actually low for this space, plenty of 2021 drops sat at 25 percent insiders before public. still would’ve been nice in the headline instead of the footnotes
Ines has a point on the 200 boxes, but 1800 through open raffle is still better odds than most 2021 drops gave you
lost every raffle this year, at least this one mails your money back lol