A recent survey revealed exciting information about the average US mindset and their reception to modern innovations like cryptocurrencies and the metaverse. In the study conducted by FitRated, a renowned website dedicated to fitness, the survey comprising 1001 US citizens revealed a majority consensus preference for receiving remunerations in crypto for physical workouts in the metaverse.
Exercise in the Metaverse: Why not Get Paid?
The aforementioned survey revealed over 80% of the respondents would feel greater motivation to participate in physical exercise activities in the metaverse if they were rewarded with digital assets for their efforts. In addition, 4 out of 10 persons in the survey also expressed a willingness to switch their existing routine from actual gyms into the blockchain-powered virtual metaverse.
Also Read: What connects the Metaverse and the Crypto?
A Novel Approach Makes the Difference
Previous research studies conducted by the NBER(the National Bureau of Economic Research) had led to the inference that monetary incentives alone are not incentive enough.
The FitRated study, however, points otherwise, indicating a blockchain-powered VR presentation though the metaverse is more than likely to succeed.
The survey also brings other new observations to light, with 63% of its participants acknowledging fitness motivation being one of the significant highlights of blockchain-powered apps. Multiple “move and earn” projects exist, and several others are trying to capitalize on this.
The Edge of “Gamification”
The VR perspective adds a gaming aspect to the workouts with crypto remunerations acting as in-game reward systems. This is in fact one of the main reasons blockchain-based applications for fitness are preferred by 83% of the respondents.
In regards to the type of activities, walking stood out to be the top choice of respondents at 49.1%. Cycling came a close second at 47.2%, while swimming was third at 41.4%.
Among the cryptocurrency options as remuneration, BTC was the overwhelming favorite at 72%. ETH stood 2nd at 35.5% with the meme-based crypto DOGE becoming a close third at 34.6%.
The Rise of Blockchain Fitness Apps
Quickly rising to the top as the most influential disruptive technology of recent times, blockchain is being used worldwide across countless domains including healthcare. While the technology has been previously preferred for storing and transferring confidential data, validation of records and vaccine documentation, and many more. It is one of the primary foundations of Web 3.0 and metaverse, and it is where move-and-earn applications are skyrocketing in popularity. Examples include the Step App and STEPN, the former of which is built upon the Avalanche platform, while the latter offers users a chance to mint distinct NFT shoes.
The research studies indicate blockchain-based metaverse applications have tremendous potential in integrating themselves into the USD 100 billion global fitness industry. The gaming element attracts users, while rewards systems in crypto encourage them to stay.