FitFi platforms use geolocation data, physical sensors, non-fungible tokens (NFTs), the metaverse and countless other existing blockchain technologies in order to better connect people with fitness. Much like the p2e trend led by projects like Axie Infinity (AXS-USD), m2e projects are trying to grow out their userbases by making fitness more fun and rewarding.
Given the broader emphasis on fitness investors are seeing market-wide, with products like Peloton’s (NASDAQ:PTON) stationary bike and the Mirror home gym growing in popularity, the tech and fitness worlds are on a collision course. Here are some of the best FitFi cryptos to buy to get ahead of this trend while it’s still early.
|Step App||FITFI-USD||32 cents|
StepN has kicked off the surge in FitFi cryptos’ recent popularity. One of the newer additions to the niche asset class, the GMT crypto has become one of the fastest-growing, shedding light on competitors.
First launched in early March, StepN seeks to connect users’ fitness regimens with the blockchain through NFT sneakers. All one must do is buy a sneaker token, which matches with one’s average running speed and fitness level, and then use geolocation on their phone when they run. By keeping consistent pace in line with the statistics displayed on the token, a runner can earn crypto rewards. The network also utilizes a leaderboard, allowing competition between friends and adding another layer of incentives.
While it is one of the newest FitFi cryptos, GMT has enjoyed an explosive first month. The token has enjoyed a gain of almost 2,500% between its launch and its April 19 all-time high. This is rocketing the project’s market capitalization to over $2 billion, making it one of the largest cryptocurrencies in the world right now.
What sets the Dotmoovs network apart from other FitFi products is its divergence from running as a primary m2e activity. Rather, the platform is focused on promoting fitness through freestyle soccer.
Indeed, Dotmoovs doesn’t make use of geolocation technology like the others listed here. Rather, it gets its users out of their seats and engaging with European football. Users utilize video cameras to passively earn on the network. One simply sets up their phone and takes on different challenges revolving around stationary footwork skills like ball juggling.
Perhaps the most interesting aspect of this network is the way users accrue points. The Dotmoovs network makes use of artificial intelligence, which automatically judges one’s performance and tallies a total score. This score then correlates to the MOOV tokens earned by that user.
The Dotmoovs network continues to grow and branch out into different sports, making it a versatile pick for athletes who like to mix things up frequently. Developers are looking to add dancing challenges to its platform, and they signal additional sports are coming soon.
Genopets is another network stepping out of the box with its fitness offering. The GENE token is one of the best FitFi cryptos to buy for anybody who is already interested in p2e crypto offerings, combining a video-game aesthetic with m2e technology.
The best way to describe Genopets is as a mix of Axie Infinity gameplay and a crypto-rewarding step counter. When one joins the Genopets network, they mint a digital familiar called a Genopet, much like an Axie on the Axie Infinity network. Users then track their real-life steps, which the game transfers to experience point tokens called KI. Then, users can spend these tokens to level up their Genopet. From there, users can battle their Genopets against other players for additional rewards.
The Genopets network is a solid buy for those who expect the p2e industry to continue its surge alongside the FitFi and m2e industries. Indeed, blockchain gaming has already proved a highly lucrative industry. If the FitFi industry grows similarly, the Genopets network might be one of the top performers by bridging the two.
Step App is one of the newest cryptos on this list, launching just yesterday. Yet, it has found fast success, gaining 150% in just a few hours. It has also landed several major exchange listings just hours after its initial launch on OKX and Bybit; larger exchanges like Huobi Global, Gate.io and Crypto.com (CRO-USD) are picking up the token as well.
Decentralization is the main differentiating factor for Step App compared to other networks. Ultimately, it seems that developers want to put the full control of the platform in the hands of its users. That’s why it was launched using DAO Maker; the FITFI token is a governance token. This means that anybody who holds the token has voting rights for community proposals on network changes.
In addition to being a DAO token, Step App developers refused investments from venture capital firms. This allowed the project to offer the fairest launch possible, allowing any investors to try and get first grabs over FITFI tokens. According to the Step App memorandum, this decision is in response to the will of the community. As a result of this decentralization, FITFI is a solid choice of FitFi cryptos for Web 3.0 enthusiasts, DAO faithfuls and anybody else who favors decentralization.
OliveX and its DOSE coin are one of the strongest FitFi cryptos because it bridges m2e with one of the largest metaverse spaces around, the Sandbox (SAND-USD).
OliveX’s fitness metaverse is an area within the Sandbox metaverse space. Sandbox users can go here to participate in various workout challenges offered up by OliveX. The network has a grip of running challenges, which users can participate in through geo-tracking to earn DOSE tokens.
The company also has challenges around stationary exercises and cycling. Since acquiring KARA Fitness, OliveX has been implementing challenges that utilize KARA’s Smart Mirror and other at-home workout equipment.
As is the case with Genopets, the OliveX network is noteworthy thanks to its coexistence with an already booming crypto industry. Seeing that the metaverse is only growing larger as tech companies like Meta Platforms (NASDAQ:FB) and Microsoft (NASDAQ:MSFT) embrace the technology, OliveX has an edge over platforms that don’t have these linkages.
On the date of publication, Brenden Rearick did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
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