Fitmint AMA

we hosted an amazing AMA with fitmint on the 26th of August

And here we will put some of the best questions:

Q1. About Fitmint & Why Start This Journey ?

Fitmint is a move-to-earn game where you can earn rewards in crypto tokens and NFTs simply by walking, running, playing sports or working out.

Our broader vision is to create a digital fitness ecosystem where millions of people get fit everyday, get rewarded for their efforts and connect with their favourite fitness brands and sports athletes. And at the same time, It enables us to onboard millions of people to web3 which is struggling to get a mainstream adoption since years

Why we started fitmint:
We see a challenge with the best web2 fitness apps, they are not able to solve for the biggest problems in fitness i.e. consistency and motivation

we realised that web3 has the right tools to solve for it with native crypto rewards, NFT gaming, SocialFi, etc

however, even in web3, companies are more focused on the “earn” part of move to earn rather than actually solving for fitness, which leads to an unsustainable economy.

hence we saw a need to create Fitmint 🙂

Q2. Talk About The Struggles People Face When Working Out, Starting A Habit.

We did this research before starting Fitmint, and there are 3 primary problems in everyone’s fitness journey

  1. Motivation: everyone wants to be fit but the motivation is missing. The inertia of actually working out everyday is very difficult to find
  2. Lack of Instant Gratification & Consistency: We are used to getting instant gratification with everything in life, but fitness takes consistency. 2-3 months of working out is needed to see any real benefits. This is challenging.
  3. Lack of social elements: We hear all fitness coaches advice people to find a workout buddy, because then it becomes a social activity and then finding consistency is easier. But due to everyone’s busy schedules it’s very difficult to workout with your social groups

These are the major problems that we are trying to solve with Fitmint

Q3. What Are The Future Plans ?

Our main goal has always been to solve for fitness and that will always remain true.

Our broader vision is to create a digital fitness ecosystem where millions of people get fit everyday, get rewarded for their efforts and connect with their favourite fitness brands and sports athletes. And at the same time, It enables us to onboard millions of people to web3 which is struggling to get a mainstream adoption since years

The Fitmint ecosystem will have a lot of different stakeholders: players, influencers, builders, fitness centres, corporates, fitness service providers, brands, etc.

we’ve written a very detailed blog on what the future over the next 12 months looks like and what our vision is: https://fitmintclub.medium.com/the-fitmint-ecosystem-our-vision-not-just-another-move-to-earn-app-7f20658b9210

Q4. Tell Us About Real World & In-Game Utility of $FITT .

Yes, there are 3 broad utilities that $FITT will have:

  1. In game: use $FITT to level up, repair your sneaker and advance in the gameplay. Participate in social competitions world wide or within your friend cirlce with $FITT and even do fun things like cutomise your sneaker NFT into 3D ones with cool new looks
  2. Real world: You will be able to redeem $FITT against vouchers for fitness products or even book services like a fitness coach, dietician, psychotherapist, etc.
  3. Staking: You’ll be able to stake $FITT on our app or website and get a chance to win free sneaker NFTs, breeding tickets, etc.

Q5. Why Copper As A Launchpad ?

In order to determine the best way to list our token, we examined various options while keeping the interest of our community as the top priority. Launchpads or Batch Auctions typically favour whales and speculators, resulting in over-inflated prices. They can also encourage botting or front-running to accumulate a large share!

Copper (LBP), however, enables everyone to participate with a minimum entry barrier, ensuring that the sale is as fair as possible.

And on top of that, Copper also offers the benefits: Price Discovery, Open & Permissionless Participation and Fair Distribution

We’ve written a pretty detailed article here on why copper and how to use it: https://fitmintclub.medium.com/announcing-the-fitt-token-sale-cf066e44313

Q6. Why Is It The Right Investment For People?

Firstly, would like to go back to all the utility that $FITT has for now and in the future in the entire ecosystem

  1. If you’re looking to improve your health then you get to participate in the gameplay and even the real world utilities that the Fitmint ecosystem brings.
  2. Even from an investment perspestive we’re just getting started. We are backed by some marquee investors like General catalyst, iSeed, Kearny Jackson, Dweb3, Polygon Studios and 1947 Rise.
    Even simply staking the $FITT tokens can bring users considerable amount of rewards.

Q7. Why Should People Buy $FITT And Enroll For The Staking Contest ?

Same answer as the previous question. Purchase $FITT for it’s utilities.

About staking

As the saying goes, you should make your money work for you. So once you’ve purchase $FITT or earned it via your workouts, why let it sit in your wallet?
By simply staking the tokens on our app/website users can win considerable amount of rewards like free NFT sneakers, breeding tickets (which in essential to the gameplay) and more

And here we will put best questions from our members and fitmint fans:

Q1. Could you explain what are the main use cases of #FitmintntClub token within the #FitmintntClub ecosystem? Does it really have value from an investor’s point of view? Do you have mechanisms to increase its demand ?

Main use cases are the token utility that I answered before. let me copy/paste it here:

  1. In game: use $FITT to level up, repair your sneaker and advance in the gameplay. Participate in social competitions world wide or within your friend cirlce with $FITT and even do fun things like cutomise your sneaker NFT into 3D ones with cool new looks
  2. Real world: You will be able to redeem $FITT against vouchers for fitness products or even book services like a fitness coach, dietician, psychotherapist, etc.
  3. Staking: You’ll be able to stake $FITT on our app or website and get a chance to win free sneaker NFTs, breeding tickets, etc.

From investor point of view: We already have some marquee investors like General catalyst, iSeed, Kearny Jackson, Dweb3, Polygon Studios and 1947 Rise

Even simply staking the $FITT tokens can bring users considerable amount of rewards.

Q2. Is your #FitmintClub gameplay can be easily understood by all kinds of players especially for those who are relatively new into crypto or just starting out? Can they still enjoy the game even though they dont really much know about crypto and crypto-related products ?

Unlike most of the web3 Dapps, we want to take some inspiration from web2 and design a very simplified and intuitive user experience. Our goal is to make the app so simple to use that a user does not realise this is a web3 app that they are using.

Above all if anyone is looking for any kind of assistance, we have our amazing community who helps the new joiners everyday on discord or telegram. The links are all here: https://linktr.ee/fitmintclub

Q3. Sneakers are the main item to play Fitmint. How many types of Sneakers does #Fitmint have and how much does each one cost? Will #Fitmint organize more Sneakers discounts to get more new members involved? How can users upgrade their Sneakers? How valuable are Sneakers in #Fitmint ?

We have our sneaker NFTs that users can purchase directly on the Fitmint app in exchange for 150 USD worth in MATIC for the first sneaker.
Post that each sneaker is 100 USD in MATIC

this is only an initial price, once we have our marketplace, users who are selling the NFTs will decide the price

There are 5 types: Basics, Athlete, Pro Athlete, Special Edition and Legends. We’re only launched Basics at the moment which can be used for the gameplay.

Post purchasing, users can workout and earn $FITT tokens which they can use for in game activities or in the future for redeeming real world utilities.

In the near future, users would be able to trade with the sneaker NFTs in our in game marketplace

Lastly, there are no discounts, but we do sneaker giveaways all the time on twitter. We also are currently giving away 250 sneaker NFTs as a part of our token sale event. All details here here: https://fitmint.io/token

Q4. What are your advantages over other projects? Is it from a security standpoint or is it the technology you’re using? What are the other benefits of your #FitmintClub project? Do you believe that your project is worth choosing ?

This is going to be a long answer, so please bear with me as I type

IMO, one of the biggest challenges for any ‘X to earn’ game is creating a sustainable working economy. Some move to earn apps did a phenomenal job in bootstrapping the networks using the token incentives, however, they failed to sustain their growth and user engagement because their entire game was only about earning money and most of their in-game sinks were net-positive sinks where the users were spending the token only to earn more.

Our goal is to create a game with a long-lasting sustainable economy where the players are spending the token for non-monetary rewards like social status, fun, fitness and entertainment.
That’s why our roadmap is largely focused on creating net negative or zero sum sinks like Sneaker customization, fitness challenges, Competitions, Marathons and so on.

Other than that, other areas would be:

  1. Real world utility: we also plan to build a real world utility of our token by enabling the users to purchase fitness goods and services like health insurance, sports/fitness brands and apparels, gym memberships etc.
  2. We don’t want to be limited to a walking/running app which defeats the purpose of promoting holistic fitness. We want to be more inclusive and reward users for all the physical activities including gym workouts, playing sports etc. To start with, we are working on apple watch integration to enable the tracking and rewarding for all kinds of workouts.
  3. Unlike most of the web3 Dapps, we want to take some inspiration from web2 and design a very simplified and intuitive user experience, in order to achieve our mission of onboarding millions of users to web3 and making them fitter and healthier.

Q5. One of the most common issues is that most investors nowadays are just concerned with short-term gains and do not consider long-term rewards.
Is it possible for you to give them some reasons why they should buy and hold $FITT tokens over time?

The entire reason for picking copper as our launchpad is due to this. It decentivises large investors / whales to pump the token and dump in short term.

The decaying price mechanics in copper ensures only people who are interested in the project in the long term make a purchase.

Reasons to hold on to $FITT is it’s current and upcoming utilities

  1. In game: use $FITT to level up, repair your sneaker and advance in the gameplay. Participate in social competitions world wide or within your friend cirlce with $FITT and even do fun things like cutomise your sneaker NFT into 3D ones with cool new looks
  2. Real world: You will be able to redeem $FITT against vouchers for fitness products or even book services like a fitness coach, dietician, psychotherapist, etc.
  3. Staking: You’ll be able to stake $FITT on our app or website and get a chance to win free sneaker NFTs, breeding tickets, etc.

Q6. Can you share to us your tokenomics? How much is the total and circulation supply of your tokens? Will there be buy back system or token burning in the future?

There are a lot of questions around the token sale, details of: investors, how to participate, tokenomics, utility, cointact links, audit reports, staking details, etc. You can find all the answers on this page along with links to register: https://fitmint.io/token

Q7. What are the steps to become a part of your community, and start getting revenues? Where do we buy, where do we sign up? This looks like an amazing project!

There are lot of questions around the community. We have users from 50+ countries and their channels for conversation in vernacular languages in our discord server. All links to our official communities are here: https://linktr.ee/fitmintclub

You can also download the app and start using Fitmint. Links are here: https://fitmint.io/

Q8. What are the functions and benefits of $FITT token? How can $FITT find a balance between technology development and token value growth? Are there any benefits for long-term holders? What strategies do you have to increase token demand and attrition?

there are 3 broad utilities that $FITT will have:

  1. In game: use $FITT to level up, repair your sneaker and advance in the gameplay. Participate in social competitions world wide or within your friend cirlce with $FITT and even do fun things like cutomise your sneaker NFT into 3D ones with cool new looks
  2. Real world: You will be able to redeem $FITT against vouchers for fitness products or even book services like a fitness coach, dietician, psychotherapist, etc
  1. Staking: You’ll be able to stake $FITT on our app or website and get a chance to win free sneaker NFTs, breeding tickets, etc.

Q9. Features of your rodmap is details

  1. Company 
    2.Token 
    3.Social Media Platforms 
    4.Team Organization Representation 
    5.Website 
  2. Sale 

Our roadmap is there on our token sale page. Adding a link here: https://fitmint.io/token

Q10.Partnership is crucial for any project and the sky is the limit! So can you tell us something about your recent partnership and how you plan to make it better?

we have some amazing investors and partners. all mentioned on our website: https://fitmint.io/

And this was the end of our AMA with fitmint.

You can find us here:

Website :https://fitmint.io/

Telegram community :https://t.me/fitmintclub_eng

Telegram announcements :https://t.me/fitmintclub

Twitter :https://twitter.com/FitmintClub

Discord :https://discord.com/invite/fitmintclub

Instagram :https://www.instagram.com/FitmintClub/

LinkedIn :https://www.linkedin.com/company/fitmint/

Whitepaper :https://fitmint.gitbook.io/whitepaper-fitmint/