- Not monetary incentives but blockchain technology seems a better fitness motivator.
- 3 in 4 people are interested in gym memberships with cryptocurrency.
- Bitcoin is the #1 desired currency in exchange for working out.
In the survey, 1,001 Americans were asked to share their thoughts on blockchain-based fitness technology. Talking about the results, 40% of people would willingly cancel their physical gym membership in exchange of one in the metaverse. 81% people would develop affinity towards staying fit, provided they are offered cryptocurrency payments.
National Bureau of Economic Research, in its study found that people can’t be encouraged to go to the gym if they are offered only money. However, the trick looks worthy in terms of blockchain-based financial incentives, as observed by FitRated in its research.
Reason why blockchain-based financial incentives are preferred over monetary incentives is nothing but the concept of gamification. 83% people said that they admire the fact that fitness applications based on blockchain technology gamify physical activity.
When these people were asked about their choice of fitness to earn crypto, walking was the choice of 49.1% respondents. After walking, cycling was the most liked activity with swimming being the third.
Moving on to the choice of cryptocurrency, bitcoin remained the first choice with72% respondents. Ethereum got the second spot with 35.5% respondents and Dogecoin came at third with 34.6% respondents.
Fitness apps deploying the blockchain technology are increasing in demand. For instance, STEPN, a Web3 move-to-earn application, gamifies the running experience by providing users the ability to mint unique non-fungible token shoes.
Step App is another move-to-earn app that is based on augmented reality, metaverse and blockchain. The app, in an interactive way, converts fitness goals into joy, income and friendly completion.
OliveX is another health and fitness company that’s aiming to encourage people by gamifying fitness via crypto and provide users with an immersive fitness experience on the blockchain technology.
FitnessVR.io is the first health and fitness metaverse, which focuses on 24×7 immersive metaverse, featuring health and fitness events, activities and themes using cryptocurrencies, Non-Fungible Token (NFT) and blockchain to improve the end-user experience.
Besides these, 24 Hour Fitness, Anytime Fitness, Peloton and Gold’s Gym might enter the metaverse soon.