Staying in form is important, however discovering the motivation to hit the fitness center day-after-day ain’t straightforward. What in case you have been rewarded for burning energy?

That’s what Web3 health app Fitmint goals to do. The move-to-earn app has inbuilt gaming components that allow you to earn rewards in crypto/NFTs for strolling, working, or figuring out.

Co-founded by Viren Baid, Rohit Sharma, and Anurag Meena in January 2022, Fitmint goals to create a group of health lovers and make individuals internationally fitter.

In dialog with The Decrypting Story, Rohit explains. “We famous how difficult it was to remain in form. I personally discovered it troublesome to get off the bed day-after-day to work out. So, we determined to co-found Fitmint.”

The trio found Web3 could possibly be a medium to resolve real-world issues and promote a wholesome life-style.

“In December, we have been brainstorming concepts to construct and our concepts resonated with the ethos of Web3. The ideas of belief, transparency, and decentralisation led us to construct Fitmint,” Rohit says.

Into the Match-verse

FitMint is a move-to-earn recreation, with the sport contract constructed on Polygon. In future, the founders plan to combine it on different chains.

Rohit explains “It’s a cell app the place customers join and create a decentralised in-app pockets, which will probably be used to carry NFTs and crypto tokens. As soon as the customers join, they need to mint a sneaker NFT.”

After minting the NFT token, customers can burn energy by strolling, working, and extra – and earn rewards in crypto.

Rohit says, “Now we have an in-app tracker to trace a consumer’s energy whereas figuring out. We award FITT tokens relying on the energy burnt. A FITT token is an ERC-20 token deployed on Polygon, and could be traded out there. Customers can convert the tokens into fiat forex or use them to take part in a number of in-game actions and social competitions or to improve their sneakers.”

The decentralised in-app pockets permits customers to carry their NFTs, cryptocurrencies, and different digital property.

Aside from gamification and decentralised finance, the agency is specializing in the social-fi facet the place they’ll tokenise social affect and award customers.

Rohit says, “We consider health is a social exercise. Going to the fitness center or for a run alone is troublesome to do constantly. Nevertheless, in case you go together with a bunch of mates or exercise companions, they may encourage you to work out day-after-day.”

The app is obtainable for iOS and Android working techniques.

“We launched our shut beta model for Android in April, and for iOS in Might. Now it’s in public beta, anyone can open the app, mint the NFT, and use the app.”

The co-founder says they’ve a number of streams of producing income.

“We are going to cost a fee on in-app transactions like promoting sneaker NFTs within the market. Proper now, we’re producing income by means of NFT gross sales that happen on our platform. When a brand new consumer joins, they’ll mint NFT by paying $150 and we generate income,” Rohit says.

Transfer to earn

Transfer To Earn (M2E) video games have been making a buzz within the trade as they permit customers to earn rewards for participating in common train or fitness-related challenges and earn crypto and NFTs. Gamers within the area embrace StepN ,Genopets, Galvan, DotMoovs, and OliveX.

Rohit believes Fitmint is extra inclusive when in comparison with different move-to-earn purposes.

“Different move-to-earn apps both characteristic strolling or working. We expect health extends past strolling and working. We’re together with each exercise (biking,push-ups, sit-ups, enjoying sports activities and so forth) and rewarding customers based mostly on the variety of energy they’ve burned.”

He provides that behavior monitoring is a problem, and move-to-earn apps place extra emphasis on the Web3 area.

“We see Web3 as an enabler, not an answer. Quite a few Web2-based health apps resembling Curefit and HealthifyMe have tried to deal with this subject, however their options have been restricted by the absence of reward fashions,” Rohit says.

The startup, which at present has a 10-member group, is specializing in the X-to-earn mannequin. Prior to now, the traditional methodology of incomes cash was to work-to-earn, however Web3 lovers consider that way forward for revenue is X-to-earn.

“With the appearance of expertise, individuals can now earn cash by means of X-to- earn fashions like play to earn, create to earn, transfer to earn, make investments to earn, and study to earn. At Fitmint, we hyperlink on a regular basis habits to Web3,” Rohit says.

The best way forward

The Bengaluru-based startup intends to combine its app with health wearables like Apple Watch, Fitbit, and others so any bodily exercise could be rewarded.

The co-founders say they envision Fitmint as a worldwide app.

“We didn’t wish to construct an India-specific app; we wished to construct a worldwide app. Our consumer base is a worldwide group from 50-plus international locations, together with Japan, Russia, Ukraine, Vietnam, and others.”

He provides that Fitmint has 10,000 downloads and round 8,000 paid customers. “Now we have a 150K-plus group on Discord and 100K- plus followers on Twitter.”

Final month, Fitmint raised $ 1.6 million in seed funding led by Common Catalyst. The Web3 startup will use the capital raised to broaden its group and optimise its advertising and marketing and tech infrastructure.