Are you ready to get healthy and wealthy at the same time? Well, you are in for a treat, as a new application called Step App is offering the best of both worlds.
Step App is creating the foundation of this new market direction of crypto by expanding the blockchain economy beyond finance to cover fitness, lifestyle, and consumption.
This is being achieved with the help of its own rapid, low-cost blockchain, which is rich with composable intellectual property and grounded with a native metaverse, ready-to-deploy SDKs for smart contract solutions, NFT infrastructure, and more.
To kick start this revolution, Step App is partnering with the world’s fastest man, Usain Bolt, to inspire millions of people around the globe to get out and move on Step App.
With 81% of adults globally not getting enough exercise, Step App aims to create a healthier world by providing them a monetary incentive to move and, at the same time, unlock economic freedom in the developing markets.
“We are not just building an industry-leading Web3 platform, but more importantly, championing a global movement to get millions of people around the world to become healthier. Our mandate is to inspire people to exercise daily, so they feel better physically & mentally and feel we will achieve this by incentivising their exercise by paying them in crypto,” said Dharpan Randhawa, President of Step App.
The App is turning everyday exercise activities like a daily jog or dog walking into social activities and competitions with friends and strangers. And with this new partnership with Usain Bolt, the idea is to onboard millions of users, both crypto and non-crypto, around the world.
“Exercise has always been, and still is, a massive part of my life. When I learnt about what the team at Step App were building, I was instantly inspired and wanted to be part of this incredibly important global movement, said Bolt.
Bolt, however, is just one of the many major athletes they plan to onboard as global fitness ambassadors for the app, as well as attract those premium brand partners and governmental organizations who share Step App’s vision for a healthier world through Web3.
There are also plans to acquire IP and branding rights from international brands to make the app attractive to their global fan bases.
In the official video announcement, Bolt shared his excitement about becoming the global face of Step App, saying, “through Step App, I would love to inspire as many people as possible to live a healthier and happier life. We are just getting started.”
While talking about the unique combination of finance and fitness, he further shared that Step plans to work with a network of global partners to create earning opportunities whenever you move. But this is not all. In the future, Step will allow its users to explore other financial opportunities through its exchange and marketplace.
“Putting the two main ingredients of happiness & money & fitness, is remarkable,” said Bolt in the video, adding, “I am massively excited to help bring this technology to people around me, and to the world.”
In this gamification of fitness, users will earn for hitting fulfilling quests, combining their fitness goals with novel income incentives. Its token economy includes staking, locks, liquidity incentives, buybacks, and burns driven by demand drawn by gameplay perks and value drawn from the game economy.
“The app focuses on experience-based consumption to ensure token emissions are offset by leisurely spending,” states the team.
The App aims to provide an immersive, social, and competitive experience to the masses that will experience crypto for the first time by offering them enticing earning opportunities.
The social and earn mechanics of the protocol will twine with strong token sinks to create a balanced economy. FITFI is the governance token that will benefit from ecosystem fees, while in-game tokens KCAL will be used to buy SNEAKs and earned from running while staking a SNEAK.
Addressing the Pain Points
Step, one of the first apps on the Step blockchain, is currently conducting an early sign-up campaign ahead of its launch. To jump-start its user acquisition, it will be allowing the new members to get free SNEAK NFTs.
NFTs have already taken the world by storm, ushering in the new age of the creator economy. Leveraging NFTs, augmented reality, and geo-location, the Step team aims to create the foundation of this new market direction of crypto, Fitness Finance (FitFi).
Much like GameFi, FitFi is the culmination of the $100 billion fitness industry with the burgeoning crypto market. But while in Web2, users consumed fitness content, and all the value went to the platforms, in Web3, participants will earn the value.
While it is not the first one to introduce move-to-earn, the Step app does address some of the most significant pain points of the Fitness Finance (FitFi) market. It is creating a gamified metaverse for the fitness economy, which motivates people to run, jog, walk, or hike daily to earn cryptocurrency.
Taking it one step further, the Step team eliminates another biggest issue of Web3, venture capitalist (VC), by giving everyone an equal and fair chance to get their hands on its native tokens at the TGE event.
The market’s biggest bottleneck and expense drivers are addressed by making the protocol SDK usable by third parties to build within the Step Metaverse. It’s ready to deploy geo-location technology, NFT minting and trading functions, user onramp, and token mechanics can also be deployed in a snap by any developer, team, or even global brand to make a web3 FitFi app.
Besides the immediate technology, the Step ecosystem will also provide its massive base of go-to users, fitness ambassadors, and onramps to those building on its protocol.