Quick take:
- Step App has appointed Usain Bolt as its global ambassador.
- The move-to-earn web3 platform is leveraging blockchain technology to promote healthy living.
- Step App on Thursday launched the private beta of its gamified fitness metaverse that already has more than 20 million users signed up as of July.
Step App on Thursday announced its partnership with the official world 100 meters, 200 meters, and 400 meters relays record holder Usain Bolt. The Web3 platform has appointed Bolt as its official global ambassador to help onboard millions to its gamified fitness metaverse.
Step App is leveraging blockchain technology to promote healthy living. The company is looking to tap into the $100 billion fitness industry that has already proved a success story for another move-to-earn platform StepN.
Last week, StepN revealed that it made $122.5 million in profits from platform fees during the first quarter of 2022.
Web3 move-to-earn applications provide users with an opportunity to earn crypto based on their physical activity. Users can be rewarded for individual movement exercises like walking, jogging or running. They can also participate in competitions to win prizes.
Step App is built on the Layer 1 proof-of-stake blockchain Avalanche. It is the first product on the Step Blockchain to explore the possibility of onboarding masses to the FitFi market. The Step Blockchain also offers a software development kit (SDK) which can be used by third-party Web3 builders to launch their own products within the Step Metaverse.
Commenting on his partnership with Step App, Bolt said fitness has always been a part of his life. “I’ve said in the past that we need to aspire to inspire, and through Step App, I would love to inspire as many people as possible to live a healthier and happier life,” he added.
Step App plans to introduce pre-registered users to “SNEAKs,” one of its brands that users will be able to buy, trade and wear digitally in the Step Metaverse.
The app allows users to earn the $KCAL token through play-and-earn, socializing and exercising.
“Our mandate is to inspire people to exercise daily so they feel better physically and mentally, and we feel we will achieve this by incentivizing their exercise by paying them in crypto,” said Kirill Volgin, CEO of Step App.
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