Read Part I to know all about why we need a new workout model.
In Move-to-Earn Part II we will talk about Move-to-Earn in more detail.
The reason why Move-to-Earn might just work?
Losing weight or toning up takes weeks to years to show results but getting paid is an instant benefit that almost anyone can appreciate. Do not get me wrong, working out just for the money is wrong!
You need to work out for yourself and hey, if you get paid by doing it, that should be a motivation to keep you going.
The business model is complicated…
The question is — how can a company pay you and from where does that money come from?
A lot of current traditional fitness apps that pay for working out have been unsuccessful. Why? Because bootstrapping the resources and network required to sustain a thriving pay-to-workout economy is challenging.
Therefore, many models are built with backward incentives. Let us look at an example.
HealthyWage is a start-up that rewards customers for achieving their weight loss objectives. Unfortunately, the company’s revenue structure was designed to profit when users failed to accomplish their objectives…
It’s easy to see how this would result in a clear conflict of interest.
Blockchain can change this model into profits for you and the company!
Blockchain is giving the move-to-earn a fresh lease on life.
Instead of profiting off users’ fitness goals, businesses should charge a small fee on transactions, providing positive incentives to encourage more people to live better lives.
Furthermore, blockchain financial structures encourage users to become invested in the project and feel a feeling of ownership, which encourages them to invest in their fitness journey.
Simply put, the company earns money by users doing transactions and gives a part of that back to the community. Of course, there are other types of revenue the company can make as well and we will discuss them next time.
I hope this succeeds.
I am not going to lie. I do not like Play-to-Earn and I think Move-to-Earn will have just as hard time maintaining a sustainable business model.
What I do believe that the biggest difference is, is that people play Play-to-Earn for money and they use Move-to-Earn just as an additional motivator to work out.
Purely because of this, I believe Move-to-Earn has a bigger potential than Play-to-Earn.
Let us see what the future shall bring!
