New Move to Earn Coin Fight Out Raises $3m to Build Out Web3 App and Gym Fitness Platform
A revolutionary new move-to-earn (M2E) crypto start-up called FightOut has raised a whopping near $3 million in the few weeks since the launch of its token presale. Move-to-earn essentially means that users can earn cryptocurrency by completing movement-based challenges/competitions.
Investors have been rushing to get hold of FightOut’s FGHT token, which will function as the currency at the heart of FightOut’s web3 fitness ecosystem.
📣 Big news #FightOutCrew! 📣— Fight Out (@FightOut_) January 14, 2023
We have raised over $2.9M in our stage 1 presale! 🔥
Only 9 days left to get involved before the price of $FGHT increases! ⏰
Don’t miss out! ⬇️https://t.co/Q9cB4zIXYs pic.twitter.com/g4ePkxiXz5
Tokens are currently selling for 60.06 per 1 USDT, though larger investments are eligible to receive a bonus of up to 50%.
By joining the Fight Out M2E platform now, you'll have access to personalised workouts, rewards, a supportive community, and the ability to enter the #FightOut metaverse!— Fight Out (@FightOut_) January 15, 2023
Don’t miss our presale – get up to a 50% bonus with $FGHT! ⬇️https://t.co/z34Nkx3ffi pic.twitter.com/ex1IopWBX1
What is FightOut?
FightOut is a brand new web3 fitness application and gym chain that rewards its users for working out, completing challenges and competing within a first-of-its-kind fitness metaverse.
Take control of your fitness with #FightOut! 👊— Fight Out (@FightOut_) January 16, 2023
By tracking your progress and reaching your fitness goals, you can earn rewards to keep yourself motivated. ⚡️
Get ready to crush your fitness goals!https://t.co/z34Nkx3ffi pic.twitter.com/ZFxf8MVSkr
At the center of FightOut’s digital ecosystem will be its smartphone application which, according to FightOut’s whitepaper, is scheduled for launch in Q2 2023. The FightOut app will harness smartphone and wearable technology to measure and track physical performance.
The FightOut app and ecosystem will run on a tokenized economy, where users can earn rewards for completing M2E tasks, and can mint their own soul-bound token avatar, through which the user will be able to interact with the FightOut metaverse.
FightOut also seeks to combine the physical and web3 worlds. The project aims to eventually acquire gyms across all of the world’s major cities, whilst simultaneously promoting an integrated web3 fitness experience.
The Fight Out metaverse is where you can see the progress of your digital avatar as it develops directly as a result of your own effort and progress!— Fight Out (@FightOut_) January 15, 2023
Get ready to take on even more challenging tasks as you grow stronger! 💪
Learn more at https://t.co/z34Nkx3ffi! pic.twitter.com/Ep5T8qJzns
FGHT is the token that powers the FightOut metaverse ecosystem. Users will pay to enter competitions and leagues with FGHT and winnings will be paid out in FGHT. The FGHT token can also be used in peer-to-peer fitness wagers.
FightOut will be a subscription-based service and users paying with FGHT will get a 25% discount. Meanwhile, when users purchase REPS, the FightOut app’s off-chain in-app currency, they will receive an additional 25%. FightOut’s REPS token will be used to purchase goods and services available within the FightOut application, such as fitness consultations with personal trainers and coaches, or for digital merchandise for their avatar.
How FightOut is Revolutionizing M2E
Platforms like STEPN and Sweatcoin have done a lot to popularize the idea of “move-to-earn” in the cryptocurrency space. But early M2E platforms have big limitations that stymied greater mainstream adoption.
For example, both are focused on steps, which means that users essentially only get rewarded for walking, jogging and running. That’s not much good for people who prefer working out in a gym. STEPN, meanwhile, has erected big barriers to participation – users must purchase expensive non-fungible token (NFT) trainers in order to start earning.
FightOut solves these problems by taking a more holistic approach to tracking and rewarding its users for their exercise and activity, and doesn’t require any expensive buy-ins to take part. FightOut will be able to measure all forms of fitness activity through the use of smartphones and wearable tech, as well as in-gym sensors.
FightOut’s ambassador program is another key unique selling point. The project plans to sign up pro combat athletes, as well as professionals from other sports, to promote the platform and interact with users via the FightOut metaverse, including via the provision of fitness programs and masterclasses.
Huge Potential Growth
The health and fitness industry was estimated to be worth around $96 billion in 2022, as per Statista. That means that FightOut’s potential growth prospects are huge.
FightOut is looking to raise as much as $100 million from its token pre-sale, of which it plans to use around 70% on buying/refurbishing gym venues. FightOut offers users various on-ramps to purchase its FGHT token, including via credit/debit card, with ETH, or with USDT.
Investors should note that FightOut is conducting a $250,000 giveaway that is only eligible to FGHT holders, another reason why they might want to bag FGHT.https://www.twitter.com/FightOut_/status/1614970869234761728