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Fitmint’s Raises $1.6 Million in Their Goal to Get The World Working Out

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Fitmint has announced the beta launch of their new move-to-earn app. Fitmint is a gamified, social approach to exercise that pays real-world rewards to users by simply making their body’s move. Fitmint, in the words of CEO Rohit Sharma, aims to ‘create a world where billions get fit every day’ and, perhaps most importantly, earn crypto for doing so.

The idea behind Fitmint is that, with enough incentive, exercise becomes easy. Fitmint will create that incentive. Fitmint will pay users in the app’s native token, $FITT, simply for moving. Be it walking, running, or working out, Fitmint’s app will track users daily movement and then reward them the more they do. While other move-to-earn apps restrict earning to one type of movement, Fitmint plans to integrate with devices like the Apple Watch so users can do the exercise that suits them. It will create a positive feedback loop for those who exercise, and help them stick to and surpass their goals, making them happier, healthier and – with Fitmint – wealthier.

The idea speaks to the incredible innovation that’s taking place in Web 3. Web 3 is envisaged as a place where the value that enterprise created is spread far and wide and away from the centre – and directly into the hands of the people who make it work, the users. Move-to-earn is the latest craze in the crypto space, and Fitmint looks set to be a major force within it.

Major investors agree. Fitmint has just announced a massive $1.6 million raise in order to expand their team and continue the rollout of their revolutionary app. The investment round was led by General Catalyst, with participation from iSeed, Kearny Jackson, Dweb3 and 1947 Rise. The money will be used to continue to grow Fitmint’s team and to improve further upon the tech and infrastructure that makes their groundbreaking app possible.

Rohit Sharma, CEO of Fitmint, “we at Fitmint are happy and glad to receive our first ever seed funding – which is going to play a massive role in driving and bolstering our mission.’ Co-Founder Viren Baid added that ‘the revolution in fitness has just started off, and is bound to go a long way further in the times to come’.

To use Fitmint, users first purchase NFT sneakers. These sneakers (the starter pair is called ‘‘OG Basics’) are the key to unlocking all the features of the Fitmint app. The NFTs are living and breathing, and upgrade as users continue to exercise having purchased them. The NFTS have multiple stats. These stats, like Power and Durability, enhance their utility. A sneaker with a high Power stat, for example, earns more $FITT per minute of workout, while a sneaker with higher Durability can be used for longer before they need to be repaired.

Once sneakers have been levelled up, they can also be traded on Fitmint’s secondary marketplace. It means that users who work hard and exercise daily to level up their sneakers will be able to sell them to other users who want to unlock all of the features of Fitmint right out of the gates. It creates the opportunity for massive value accrual being thrust into the hands of everyday users, and gives them a motive for sticking to their exercise goals.

Fitmint will also create a social space for fellow exercisers to work out together and compete in friendly competitions. These competitions can also be a chance to earn $FITT, as users can pool their tokens, with the user who works out the most winning the prize. It’s a fun, engaging way to keep people motivated to exercise and stay on target to hit their goals, all the while earning crypto for their daily participation in Fitmint’s ‘fitverse’.

Exercise is the single most important thing someone can do to make their lives longer, happier, healthier and – ultimately – better. Nothing beats the feeling of wellbeing that comes with exercising well and exercising often. Fitmint will help people exercise more, giving them a tangible incentive for getting out there and walking, running, or hitting the gym.

Fitmint’s goal of making the world a fitter place is laudable. They already have a massive community, which is ever growing. With this latest investment, exercise may soon not be so hard after all. The beta is live now, and users can already download the app and begin earning $FITT tokens for themselves, all the while getting fit and maximising their potential.

 

 

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 7/4/2022

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