"This is my biggest creation to date," Paul told Babcock on "TMZ Sports" (airs nightly on FS1). "This is like all my brain power put into one thing. It took a lot of brain power for me, but it's called W and it's basically taking the term W, winning, whether that's the valedictorian, firefighter, high school jock, those are all winners in my mind, and giving them a product in an old and outdated space."

And no, we're not talkin' some teeny, tiny, fancy, schmancy jar of lotion that costs hundreds of bucks ... Paul's W brand body wash, body spray, and deodorant all cost under $10.

"We had to come in at the same price as the competitors. And it turns out that it's actually not that expensive to make these really, really good products. These other companies are just marking things up and making margins on top of it. But, we wanted everyone to have these products."

Despite the bargain basement prices, Jake says the products are top-notch ... and he's ready to take on the industry heavyweights.

"Axe and Old Spice has been on the shelf since I was like 7 years old, right? It's been 20 years, no competition. And we're in a more health-conscious world now. So we took out the parabens, sulfates, artificial dyes, made this the best-in-class winning formula. And we put vitamins in it because most young men are struggling with vitamin deficiency."

Just how involved was Paul in the creation of W? Very, he says. In other words, this isn't a big celebrity lending his name to a product.

"I've lost hair during this process. I came up with the name, the scents, the vision, everything, the color scheme. This is quite literally my baby, which is why I'm nervous to see how people receive it and accept it in the world. But I think we've created something really special here and I'm very proud of it."