New research from the Medical University of Lodz and John Hopkins University School of Medicine confirms that humans can walk fewer than 5,000 steps daily to keep their health at an optimum. For decades, it was reported that the magic number was 10,000 daily steps, but according to new research, even as little as 2,300 steps could have an impact on your health, such as improving your cardiovascular health and blood circulation across your body.
Despite 2,300 steps translating to only about a kilometer of walking, the influx of technology and the demanding daily work schedules, especially in cities, make it hard for people actually to go outside and walk for leisure.
According to data from WHO, the lack of sufficient exercise and physical activity is responsible for 3,2 million deaths annually, or 4% of the global death rate. Walking has been studied to be a good form of exercise, as people who walk at least 5,000 steps daily reduce the risk of dying early by up to 15%. Nonetheless, it has been a struggle for governments and health organizations to motivate people to walk the daily recommended number of steps.
Blockchain technology turns savior for the fitness industry
Technology has always been a part of the fitness industry. Over the years, apps, products and machinery have become more innovative in line with the demand for such innovation by customers globally. This trend looks set to continue in the coming decades, and walking as an exercise could be one of the biggest beneficiaries.
Imagine a world where you could be paid to reach the recommended levels of physical activity – just walk 5,000 steps a day and get paid. Indeed, it would motivate most of us to place down the TV remote, switch off Netflix, or put the game console down and go outside for a two-kilometer walk –with a few dollars to show for it.
Luckily, there are fitness apps and platforms that allow you to move and earn. These Move-To-Earn (M2E) apps aim to improve global fitness by motivating people to walk and exercise more via rewards, competitions, or simple community activities. While these apps have been around for over a decade, integrating these platforms with blockchain technology has seen a significant improvement in the overall number of people walking daily and participating in physical activities.
And this can be shown by the explosive growth of the M2E app market share since the COVID-19 pandemic. According to Polaris Market Research, the global move-to-earn fitness apps market size reached $466.52 million in 2022 and is expected to grow at a CAGR of 18.2%, reaching a projected $2.473 billion by 2032. Blockchain apps such as Sweatcoin, Galvan, Step App, and Ezzy have emerged as top M2E apps improving global fitness levels by rewarding users for participating in healthy activities – whether walking, running, having a good night’s sleep cycle, or refilling prescriptions.
The merging of fitness with blockchain technology has created better and healthier lifestyles for users. In addition, blockchain’s decentralized nature enables seamless and safe transfer of health data, giving users absolute privacy and control over their data.
A two-way street: Fitness boosting crypto adoption
It’s no question that blockchain technology is changing the world of fitness and exercise. However, it is a two-way street, whereby fitness also introduces millions of people to crypto. For instance, Sweatcoin, a Web 2 fitness app that rewards users with sweatcoins for walking, launched in 2015 with two critical missions – to create a movement economy by realizing the value of physical activities and to motivate more people to exercise worldwide.
At the tail end of 2022, Sweatcoin founders realized even more value could be derived from walking by decentralizing the platform and integrating blockchain technology. Hence in September, Sweat Wallet, a Web 3 app that rewards walking with its native token, $SWEAT, launched. With over 140 million global users on the Web 2 app, it was easy to convert most of them to try out this new Web 3 platform.
In 11 months, the Sweat Wallet app has welcomed over 7 million users, with 800,000 monthly active users receiving crypto for their daily steps. This gamification of fitness can attract individuals who are interested in earning cryptocurrency while staying healthy. This not only promotes fitness but also introduces people to the concept of cryptocurrencies.
Additionally, M2E apps such as STEPN App have fitness challenges that draw fitness enthusiasts looking to push their limits. By incorporating cryptocurrency and NFT rewards for completing challenges, STEPN has attracted a broader audience, including those intrigued by cryptocurrencies. Participants might be motivated by the potential financial gains alongside the physical benefits, thereby boosting interest and awareness about cryptocurrencies.
Finally, M2E apps allow users to have control and monetize their valuable health data. With proper consent and privacy measures, individuals could have the option to share their anonymized fitness data with researchers or marketers in exchange for cryptocurrency rewards. This creates a new way for users to monetize their data and retain more control over their information, which aligns with the decentralized nature of cryptocurrencies.
Can M2E impact governments’ views on crypto?
A forward-looking future for crypto in fitness involves a symbiotic relationship that extends beyond individual benefits. By integrating cryptocurrency incentives into fitness applications, a transformative shift can occur. These M2E fitness apps not only contribute to the widespread understanding and adoption of cryptocurrencies but also play a pivotal role in governments embracing these digital assets.
Apart from boosting the knowledge and adoption of crypto worldwide, M2E fitness apps could also be critical in governments finally accepting crypto. Crypto has always carried some scepticism across most governments due to the scams and fake projects that cost investors money. However, the merging of crypto and fitness could shed light on the value of these digital assets, positively impacting the health of their societies.
The health-related benefits derived from increased fitness engagement can have a profound effect on healthcare systems. By encouraging people to prioritize physical activity and well-being, governments could witness a reduction in preventable health issues, leading to substantial cost savings in healthcare expenditures.
