Solana

Apple

Binance Labs <a href="https://www.binance.com/en/blog/ecosystem/binance-labs-invests-in-moonwalk-fitness-to-gamify-fitness-5853342758592100899">recently invested</a> in Moonwalk Fitness, an app that encourages users to stay active through financial incentives and gamified challenges.&nbsp;
<blockquote>
 “By combining fitness with financial incentives, Moonwalk Fitness is not only promoting healthier lifestyles but also demonstrating how blockchain can offer real-world utility in an intuitive and accessible way,” said Max Coniglio, Investment Director at Binance Labs.
</blockquote>
Built on the Solana blockchain, Moonwalk Fitness rewards users for hitting their fitness goals by blending real-world value with fun and accountability. Users who participate in daily step challenges can stake cryptocurrency, including USDC, SOL, or BONK, to earn or forfeit based on performance, creating a financial incentive to stay active.
<h2 dir="ltr" id="span-span-how-it-works-fitness-meets-financial-accountability-span-span">How It Works: Fitness Meets Financial Accountability</h2>
Moonwalk Fitness offers a setup where users can join or create daily step challenges, setting goals and stakes. To win, participants must meet their crew’s step goal or keep pace with the leader’s highest completed days.&nbsp;
&nbsp;
Falling short means losing a portion of the stake, which is then distributed among the winners. This "gamified accountability" model lets users earn rewards in popular cryptocurrencies, unlike other fitness apps that create their own, less-recognized tokens.
&nbsp;
Caitlin Cook, Moonwalk’s head of growth, describes the app as “gamified accountability,” aimed at helping users achieve personal goals. Users can create custom challenges with defined parameters, like the number of days, step goals, and stake amounts.
&nbsp;
Successful challengers win back their deposit and a share of the pooled rewards, while those who fall behind forfeit their stake.
<h2 dir="ltr" id="span-span-designed-for-mainstream-appeal-span-span">Designed for Mainstream Appeal</h2>
Moonwalk Fitness reportedly stands out by making blockchain-based rewards easy for non-crypto users to access.&nbsp;
&nbsp;
The app is currently available via web browsers and is compatible with fitness trackers like Fitbit, Apple Watch, and Garmin. Mobile app versions are in development, and Moonwalk plans to allow credit card and Apple Pay transactions for easier access to credits.
&nbsp;
This focus on usability positions Moonwalk Fitness as part of the growing “consumer crypto” trend, where blockchain applications are increasingly designed for everyday users in areas like gaming, fashion, and fitness. The recent investment will also enable the development of mobile apps for iOS and Android, according to the recent announcement.

Binance Labs’ Latest Investment: What is Moonwalk Fitness?

Table of Contents

BSCN

Other articles published on Oct 28, 2024

Trump’s crypto project WLF plans to create stablecoin

Retail Investors’ Drive Sparks $22B Boom in Bitcoin ETF Inflows

Base Announces Permissionless Fault Proofs Launch on Oct. 30

Pepe Coin Whale offloaded over 1 trillion PEPE to Binance exchange

Uniswap Launches Permissionless Cross-Chain Bridging on Nine Networks, Including Polygon and ZKsync

EU MiCA rules pose ‘systemic’ banking risks for stablecoins — Tether CEO

Join our free newsletter for daily crypto updates!