Step App Fitness finance (FitFi) platform announced a collaboration on July 21, with eight-time Olympic gold medalist and 11-time World Champion, Usain Bolt, as it officially ventures its private beta for a gamified fitness metaverse.
Step App’s M2E
FitFi is one of Web3’s newest trends and covers the $100 billion USD fitness industry. It orients the “Move-to-Earn” i.e. M2E economy, where participants are rewarded with cryptocurrencies for carrying out physical activity.
The first M2E game, StepN, was successfully presented in 2021 and proposed to pay users for walking, jogging, or running in the real world instead of rewarding players for virtual participation in a project or game.
Also read, A comprehensive guide on Play-to-earn games
Adding the element of decentralization, Step App’s M2E platform aspires to be the next frontier in the metaverse and GameFi market, functioning as the manifestation of physical experience connected to digital reality.
Created on the Avalanche blockchain, Step App is the first product in the Step blockchain ecosystem to assist in bringing the benefits of FitFi to the global audience. The Step Protocol SDK, according to the company, can be utilized by third parties to build within the Step Metaverse.
The announcement highlighted the platform’s ready-to-deploy geo-location technology, NFT minting, trading functions, token mechanics, and user onramp as necessary features that can easily be deployed in a snap by any developer, team, or global brand to help produce a Web3 FitFi app.
Usain Bolt who holds world records in track events including the 100 meters, 200 meters, and 4 x 100-meter relay, and is believed to be the fastest sprinter in the world will serve as Step App’s core ambassador. The partnership anticipates luring millions of users around the world, while exploring possibilities to attract other premium brand partners and governmental organizations as well.
With Bolt’s involvement in this metaverse initiative, the platform is organizing to launch access to its private beta. In fact, more than 20 million users have already signed up as of July.
The platform will convert every physical exercise into social activities or competitions with other users throughout the community, to encourage users to earn as they exercise towards economic freedom.
Referring to this metaverse initiative Bolt mentions that exercise has always been and still is, a massive part of my life. He also highlights that we need to aspire to inspire, and through Step App, he would love to inspire as many people as possible to live fitter and happier life.
The company conveyed that the app will introduce pre-registered users to the brand’s “SNEAKs,” or digital footwear that users can purchase, trade, and wear digitally on the platform. By allowing users to exercise, socialize, and play and earn, Step App permits users to earn KCAL tokens with each step, unlocking what it refers to as “economic opportunity” in developing markets within the U.S. and around the globe.
Kirill Volgin, CEO of Step App communicates that their directive is to encourage people to exercise every day so they feel better physically and mentally, and the company feels that they will achieve this by incentivizing people’s exercise by paying them in crypto.
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