Recapitulation of DIGITAL FITNESS PROJECT AMA event held at AMA LOVERS CLUB.
Date: Friday, 12th March, 2021
Time: 14:00 UTC
The DIGITAL FITNESS PROJECT team was represented by @Playza23 and @Ataraxia360 who judiciously shared with us detailed knowledge and information about DIGITAL FITNESS PROJECT.
1st Segment: INTRODUCTION
Q1: Can you please introduce yourselces and your background, also introduce the Team working on the DIGITAL FITNESS project?
ANS: My name is Kevin. I am French and moved to Singapore in January 2013 where I lived for 7 years working for the 2nd largest automotive parts manufacturer, a German company named ZF. I was Head of Product Management and Engineering for the Asia pacific region and leading a team of 60+ people across 6 locations.
Sport and fitness has always been part of my life. Denis and I were actually flatmates in Singapore as he said and while he decided to become a crypto investor full time I went all-in in endurance sports and Triathlon. I competed in over 16 Ironman races in the region the last few years. Did few podium finishes and qualified for the Ironman World Championships in 2019.
That’s when I started to coach athletes online as a side hustle and started to conceptualise the initial project idea of 360Wellness. Few months later I resigned from my job to found the company 360Sports Pte. Ltd. and today Denis and I are bringing together the best of both worlds Fitness and Blockchain together with 360Wellness and the introduction of $DEFIT.
Yes, Kevin and I are here today...I'd like to share the whole team as well first before I introduce myself
Quite blessed so many amazing people joined me along the journey making us having such solid team set-up today 🙂
Hi, I’m Denis, the Chief Digital Officer and Crypto Lead for Digital Fitness. We saw a high influx of users when you guys announced the AMA on your channel, so thanks for bringing us in!
My background is in Social Media with over 11+ years of experience in the sector with digital content creation and marketing initiatives with a leading SML firm based in Singapore.
I’ve been in crypto since early 2017 and stopped my job back then to fulfil this passion, I joined with Kevin since October of last year when the mobile app launched as we saw great potential of integrating the DEFIT coin into the platform.
Q2: Can you introduce the DIGITAL FITNESS project, what critical problems does it solve that existing solutions are not solving and what's the competitve advantage?
ANS: Digital Fitness is a groundbreaking decentralized Fitness and Wellness platform connecting people with professionals all over the world with upcoming loyalty rewards for staying fit and healthy.
DEFIT is the upcoming cryptocurrency that will be fully integrated into our ecosystem as a credible alternative to fiat currencies for consuming health and fitness services and products.
What we have built so far is an integrated wellness app where you can connect and join trainers for live virtual classes to stay fit and healthy from your home. But we didn’t stop there. We built a revolutionary Lifestyle tracker where you can monitor how well you train, feel, eat and sleep all in one app.
Making everyone’s journey meaningful and differentiating us from all other online fitness apps out there that only offer events without making sense of what it means for each and everyone towards their personal goal completions.
We truly believe it is a game changer and by incorporating the benefits of the blockchain in the app with gamification we will have a platform like no other and a serious competitive advantage over everyone else.
Let me show you as well why we are different compared to all the big players out there too who don't even have crypto in their products
Many products use the menu bar for their apps yet Kevin came up with something much more user friendly and seemless with the swipe feature and a better overall interface experience.
Q3: The native token will be DEFIT?
ANS: Yes DEFIT is the token name and ticker
it really fits into our brand and platform as well since we are an open marketplace allowing coaches to come on board for free to use our service
DEFIT = Decentralized fitness
We only take a commission after they bring in their revenue
no fees up front for trainers and coaches who are just starting out.
Q4: So it will be the means of payment for the services your render? Does it means every users of your platform must have the token?
ANS: Nope, right now we already have credit and debit card payment available in the app
However Google Play and iOS store take some high fees
we see DEFIT being able to bring those costs down and be more friendly towards the user and the coaches, oh and us ;)
Investor Benefits 🚀
1. Staking - Details to be confirmed with our Advisory and Launchpad Sales Partner closer to the Pool launch date
2. Burning Mechanism of Staking fees will be in effect once it begins 🔥
3. Buyback of coins with 10% of Profits coming from the mobile application 💰
1. Welcome Gift driving acquisition 💰
Based on their most popular media channel (E.g. Facebook, Instagram, Twitter). % based Token granted once company and instructor profile successfully set-up.
*The revenue of the coach needs to be 10x of the coin value at when it was received. (E.g. 11 cents per token would mean a coach receiving 500 welcome tokens comes to 55$ and would have to do 550$ worth of revenue to unlock the welcome token gift.) 🔥
2. Extra visibility and higher ranking in top search results based on our specific formula of ranking the coaches on the marketplace. 📣
Ranking will be updated twice a week (every Monday and Thursday; to maintain engagement from coaches). Accordingly, a coach will be ranked depending on his/her activity over the last 3- or 4-days period. To determine the ranking per period, we use a 2-step formula:
Ranking based on a score of use of DEFIT coins, Xperience points and the Quality of Classes 🧘
So $DEFIT token is gonna be totally integrated to our app ecosystem. Driving adoption, boosting revenue and securing user loyalty from both user and trainer perspective.
Q5: Can you briefly describe the Top milestones you have achieved and your target milestones with timelines, also share your roadmap?
ANS: I started this project full time back to September 2019. Hired a team of 5 software engineers in March last year and started the build
We onboarded 35+ fitness/yoga studios and instructors in September and soft launched the app in October 2020
Goal was only to test the product, validate the business model and debug the product
But market response has been overw. We've been downloaded by more than 3,000 users across 172 countries in our first 3 months
With no marketing spends. Only word of mouth
We are now ready to scale the technology and ramp up our sales and marketing activities
yes it gave us a great start to the product launch and our initiatives were acknowledged
We were announced the Winners of the Pitchdeck Asia Awards in 2020. This was a competition between 600+ companies all across Asia in many different categories such as Wellness, Blockchain, EdTech, HRtech, Logistics etc and we came out on top in all categories!
A lot of hard work was done to get to this achievement and we are very happy to have been awarded this prestigious achievement.
We will make it affordable to all via the power of the community we are building. Physical studios have high operating costs and are limited in terms of the number of participants they can welcome in a class.
Online we can have 10, 50, 100 , 1000 of participants and therefore bring the price per participant down to 50cents and while generating great revenue for the trainers and our platform.
Accessible by bringing the best professionals from all around the world right into people’s homes. 57% of the world population still live in rural areas with no access to the facilities we have in Singapore or in cities in general. 360Wellness is turning everyone’s living room into their own at-home-fitness studio.
Such a humbling experience to be sitting at the table with the Fitness world leading companies such as MindBody and Classpass both now valued respectively at 1.9BUSD and 1BUSD
So now our goal is to proceed with DEFIT introduction this month
Its great to have this loads of information, It shows that the team knows what they are working towards
While we continue building amazing features such as Connected Wearables Integration which will be available in May.
Q6: Can you briefly describe your PARTNERSHIPS?
ANS: as we are still in hidden mode!
but will be coming out of this phase VERY SOON
so both of these coins are well known upcoming coins in the crypto space
One has got 50+ other coins working with them and is ranked around the 300 mark
the other is one of the biggest upcoming DEFI coins in the space
we're very lucky to be working with both of them
and also will be joining the Advisory Services
we've got some awesome material to share in the coming weeks
we were super excited at seeing this marketing material and can't wait to share it with everyone
so those details will be coming in the next couple of weeks!
Beside we are also an Official Ambassador of the Global Wellness Institute
Q7: Can you give an overview of your Tokenomics, and the UTILITY of the DEFIT token?
ANS: And Zone 5 Ventures for our connected wearables integrations technology:
Let's jump in the tokenomics
so our sale is coming before the end of March
the Utility we shared before a lot related to how the users, coaches and investors will each be able to use the token
I can share some more use cases as well.
So we want everyone to be able to buy, earn, spend and hold the token on the app or their own ERC-20 wallets at first, then we plan on integrating with Binance Smart Chain.
Whoever also holds the token up to certain amounts will get associated benefits such as up to 30% discounts for products
We've already got a few brands working with us
Fitness wear for women 🙂
Use 360wellness when checking out to enjoy a 30% promo code. Let me tell you a bit more about why we do this. I documented my triathlon journey on Instagram and grew up to 12k followers.
I was constantly reached out to by brands offering me ambassador or sponsoring deals. And I thought hold on a second. If I can get 50% off brands with 12k followers on Instagram, what if tomorrow we have a community of 1m sport and fitness enthusiasts?
So here we go.
Small brands can’t exist with big ones spending millions in marketing. Making 80% gross margin to fund huge marketing campaigns.
So it’s a fair deal to tell the brands to partner up with us, we give a discount to our communities, take a commission and promote your brand to our community for free. Win-win for everyone. Power of the community combining purchasing power.
Then this is the one you need for this summer. 360wellness promo code for 30% discount
Here is another one! Get your swimwear Aim 😁
This Australian swimwear brand is used by Aussie Olympians and the owner is a fantastic and inspiring lady!
She does triathlon too that’s how we know each other.
2nd Segment: LIVE Questions
Q1: Where can users now buy $DEFIT tokens? What will it be used for in the 360wellness app and what great utility does it bring to the user?
ANS: Right now you're not able to buy the DEFIT token as we will have our Angel round and Private sale with our Launchpad sales partners in the next couple of weeks. That will be followed by the Public sale. So we are preparing to be listed in April on Uniswap.
The benefits for the User include
1. Referral Rewards given to users for onboarding friends and family onto the mobile application
2. Achievement Rewards based off Fitness, Nutrition, Recovery and Sleep on the 360Wellness Tracker
3. Top users featured in the App
Top Wellness User Trending
Top Coin User Featured.
Q2: Do you aim to bring influencers and the big enterprises of fitness to Digital Fitness app? How deep do you expect the influence of the app to be in the Fitness community? What bonds are you making with fitness personalities? https://twitter.com/Alicewonder1202/status/1370178161061859339?s=19
ANS: Yes we are in talks with some big influencers to join us on the mobile application. There are some up to 200k-1 million following that we want to have on board in the next quarter to really drive the user base.
We've got a lot of connections that are coming up to us now as we get more recognized and even have a big personality reach out to us the other day on International Women's day. So it is exciting to see these influencers understand what we are trying to do and as we grow this will be a main priority for us! We plan to get up to 1 million downloads of the application in 2022. 🔥.
Q3: Who Select name "360wellness'? What is the story behind?
ANS: Thanks for asking Henry. I love those kinda questions when people seek the story behind the projects and names, brands etc. 360Wellness as two dimensions. The first a 360 comprehensive view of the user and the 4 pillars of wellness. How well you train, eat, feel and sleep. The second dimension, larger, is all a user need during his fitness/wellness journey. Find coaches to get live classes or training plans. Buy sport apparel and products to practice, Find a next challenge/ Race to test yourself, and meet with buddies to inspire, motivate and support one another. If we're built the first dimension already we are now building the second with our health and fitness professionals marketplace already live and now setting up the foundations for the other features coming up in coming months 😉.
Q4: About artnerships, I can see that you're partnered now with many HEALTH AND FITNESS PROFESSIONALS. So may we ask when will be able to see you partnering with leading blockchain companies for building a suite of tools, accessing multi-chains under one roof and more?
ANS: It's already there just not announced yet. We got several major partnerships sealed and announcements will start coming in from Tuesday onwards 😁 Join our Telegram group not to miss anything. It's gonna be big and our rounds sell very quickly 😎 @app360wellness.
YOU DONT HAVE TO CHOOSE NO MORE BETWEEN HEALTH AND WEALTH. YOU CAN NOW HAVE BOTH.
Follow Us On Our Various Social Media Communities For More Update;
Yes join us on our telegram here: 👉 https://t.me/app360wellness
✨Welcome to Digital Fitness #DEFIT (@app360wellness) our main vision is to bring the large fitness community onto the Blockchain ecosystem with our live virtual classes mobile application with Top Fitness Influencers, Instagram Models & Crypto Influencers! The first of its kind in Cryptocurrency 🚀🚀🚀
🔥Our Private Sales will be coming in Q1 of 2021 with 2 Special Mid-Cap High Hyped Coins! The Public Sale will follow shortly after and this will be followed by the Listing and Launch of the coin in early Q2. Stay tuned for more details coming in the next month related to how you can participate.
📱Our product is already live! If you haven't already then download our mobile application 360Wellness and discover the amazing offering of live virtual classes on the platform here:
💡Also check out our Telegram Group, Announcements Channel, Website and other social media channels and follow if you haven't yet👇🏼
The #nextgeneration of #digitalfitness is here. #DEFIT - Making the world a healthier place, one live class at a time. Building a truly amazing #fitness and #wellness #community 💪🙏
IMPORTANT: Digital Fitness or the #DEFIT coin is an incorporated entity for our parent company 360Wellness with our HQ based in Singapore. This parent company name will stay the same however on relevant Cryptocurrency channels we will be using the 'Digital Fitness' brand name along with the ticker #DEFIT.
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