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Non-Fungible Tokens (NFT) Newsroom

Crush Those New Year’s Resolutions, One NFT Step at a Time

Crush Those New Year’s Resolutions, One NFT Step at a Time

If your New Year’s resolution is fitness-related, we’re on the same page … or hamster wheel. Every year, I tell myself that this year will be THE year I get healthier. No late-night party-sized bag of chips in front of the television. By mid January, I’m halfway into my late-night party-sized bag of chips in front of the television.

How do we get off this hamster wheel and actually stick to our resolutions? Sometimes I’ll even rope in friends, family, and coworkers to give each other a little monetary incentive. Move-to-Earn is not a new concept, but NFTs are gamifying the concept and bringing IRL utility to its holders. Specifically, gym owners aim to implement NFTs into their memberships and sneaker companies have or are creating NFT sneakers.

Global Fit Collective claims to be “The 1st universal gym membership that pays you” and will be launching its NFTs throughout 2023. Global Fit Collective promises to provide universal fitness discounts and gym access at participating locations, payment based on calories, and other benefits. While we wait for its launch, Global Fit Collective has already paid out to some members of its community. On January 4, 2023, Global Fit Collective announced two winners of its $250 giveaway. On January 9, 2023, Global Fit Collective announced another giveaway for $200 USDC and will be announcing its winners on January 11, 2023!

If you prefer to exercise outdoors, STEP’N may be for you. STEP’N is an app that rewards users for movement such as walking, jogging, and running outdoors, so whatever your speed (i.e., Walker at 1-6 km/hr, Jogger at 4-10 km/hr, Runner at 8-20 km/hr, or Trainer 1-20 km/hr), STEP’N has an NFT sneaker for you! As long as you stay within your sneaker’s speed range, you’ll earn tokens. The caveat to, or maybe a benefit of, STEP’N is that there is a cap to how much you can earn each day. According to one review, “There is a cap to how much you can run with the app each day, meaning there’s a limit to your earnings … you get a small amount [of Energy] for free every day, plus some from your sneakers … This amount translates to 100 minutes of running. You can continue to run even after your Energy has run out, but the earning meter will stop until the next day.”

But just because there’s a daily cap with STEP’N, doesn’t mean you have to stop earning. You can earn more with Nike’s RTFKT Cryptokicks iRL, the “first native Web3 sneaker.” The NFT sneakers will be limited to 19,000 and a purchase of a Cryptokicks iRL sneaker will redeem a physical counterpart. The physical sneaker will have a built-in chip to connect the wearer’s shoes to their phone, specifically, the RTFKT app, which one article compared to STEP’N and in which Cryptokicks iRL owners will be able to earn digital assets through the Move-to-Earn concept. The private and public registration to mint and forage NFT sneakers closed in December 2022 (but are available to be minted and forged via purchase of a Trillium Lace Engine NFT on the secondary market), the physical counterparts are expected to be delivered in June 2023, and the RTFKT app is expected to be ready for download by June 2023.

In the meantime, if you have an NFT sneaker, share with us your reviews. The NFT Newsroom contributors are interested in increasing our steps this year and would love to share our journeys with you.

Stay tuned to Ingram’s NFT Newsroom for the latest developments regarding NFTs and connect with us on Twitter and LinkedIn.

By: Rachel J. Hong