This Move-to-Earn Project Takes Fitness and Gyms Into the Metaverse And CME May Be Taking Notice
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The New Web 3.0 health and wellness platform Fight Out is set to revolutionize the fitness space with a new move-to-earn (M2E) model that incentivizes and rewards users for being proactive. The project is in its first presale stage and has raised over $2.79 million in its presale in a matter of weeks.
CME Introduces Metaverse Index
Last week, CME Group, one of the largest derivatives markets in the crypto space, announced that it would partner with CF Benchmarks to launch three new metaverse reference rates.
✅ Decentraland and The Sandbox Price Predictions – Metaverse Coins Pump And Why the CME is Behind It— INTERCEDE__FINANCE (@INTERCEDE_) January 7, 2023
✳️ CME Group is planning to expand its offerings in the crypto space.
More info on our IG https://t.co/9tgwxuWn5X pic.twitter.com/yLEjcGBi0Q
The announcement confirmed that both companies would publish prices of three new metaverse coins – Decentraland’s MANA, Chiliz’s CHZ, and Axie Infinity’s AXS. Both companies will publish real-time asset rates, taking data from several top-rated cryptocurrency exchanges and trading platforms.
The news underscores increased attention to metaverse tokens being paid by large institutional players. And, given that the FGHT token aims to bring fitness to the metaverse, the asset could benefit significantly from the move.
What Is Fight Out?
Fight Out is a new, innovative M2E project that allows users to earn while they work out. The platform, unveiled in late 2022, takes fitness and gyms into the metaverse with an immersive virtual world experience that improves users’ fitness journey and allows them to participate in the future of human interaction.
Looking to disrupt the $96 billion-a-year fitness and health industry, Fight Out operates a model that enables users to work out and rewards them for doing so. Its first access layer is its mobile app, which offers access to a library of on-demand workouts and routines.
With the Fight Out app, users will be able to choose specific workouts, all of which would target specific parts of their fitness – from muscular endurance and cardio to combat and strength. These workouts come with videos from professional coaches and instructors to ensure an optimal user experience.
Next, Fight Out also incorporates physical gyms. The goal is to launch up to 20 gyms where members can work out with others.
In addition, Fight Out is looking to capitalize on the metaverse. The platform’s dedicated virtual world allows users to network with other athletes and join virtual tournaments. Users can also establish their leagues and socialize on this platform.
In the Fight Out metaverse, users will be given non-fungible tokens (NFTs) bound to them. These NFTs can’t be sold or traded and contain users’ vitals – cardio, endurance, techniques, and more. The more a user gets fit, the better their avatar looks.
Athletes can deploy their NFTs as avatars in Fight Out’s metaverse to show off their gains and see how other users are doing. Avatars can be used in virtual tournaments, and the fitness stats on users’ avatars will determine their performance in these competitions.
Earn While Working Out
In Fight Out, users who complete workouts are given REPS as rewards. REPS is the platform’s in-app currency and can be redeemed within Fight Out’s online marketplace.
REPS can be used to buy one-on-one coaching sessions, gym equipment, and even discounts on the Fight Out subscription. Fight Out has designed it to ensure users get more tokens as they build strength and other important fitness vitals.
However, there are also soft caps on the amount of REPS earnable for workouts in each category. Athletes must do a mixture of cardio, strength, technique, and endurance workouts to earn the most REPS.
Besides REPS, users can also gain access to Fight Out’s FGHT token. The digital asset is used to pay for subscriptions on Fight Out, with users enjoying a 25% discount for paying with FGHT as opposed to fiat.
FGHT can also be used to buy REPS and enjoy significant in-app rewards, further bolstering its demand. It is also worth noting that FGHT is a proof-of-stake (PoS) token, which means investors can stake the asset to earn more units.https://www.twitter.com/FightOut_/status/1612403892171542528?s=20&t=DUt7V1ZmlBOJ2L3mqtS_Jg
Currently, Fight Out is looking to raise funds to power its platform. To that end, FGHT is now available on presale and has raised over $2.79 million.
The presale aims to raise $10 million, and the demand for FGHT shows that it could achieve that. The token is priced at 60.06 FGHT for 1 USDT, with Fight Out’s developers hoping to sell up to 60% of the total FGHT supply.