Blockchain has undoubtedly revolutionized the internet as we know it, triggering a phenomenon known as the web3 revolution. The emergence of Bitcoin has allowed people to access a new monetary system, fully decentralized, without the need of intermediaries. Creating a safe and speedy way to process transactions, in a transparent, yet private environment, blockchain has disrupted traditional money and created potential for early adoption. Nevertheless, initial blockchain technology, Bitcoin included, did not represent a scalable solution, but laid the foundation for the emergence of dApps.
With the emergence of smart-contracts, on the ETH blockchain, DeFi (Decentralized Finance) also emerged, allowing users to be part of a wider financial system that was not controlled by any central entity. Therefore, many users have benefitted from democratized, complex systems, which have enhanced the potential for enrichment. DeFi had also triggered the appearance of new speedier and less costly blockchains. However, there is no hiding that DeFi came at a cost, raising awareness over the need for increased security.
One of the main applications of DeFi has been the Play2Earn model, permitting the tokenization of a traditional form of entertainment - gaming. There are current estimates predicting that over 80% of the gaming market will employ a Play2Earn model by 2026, with future metaverse integrations only accelerating this trend. The Play2Earn model had been a great success, considering that it allowed people to turn a passion into a full-time job, enabling them to monetize interests and earn a decent wage, especially in emerging countries. Nevertheless, the need for further security, already outlined by DeFi, only intensified, considering repeated hacks and potential exploits.
Stemming from Play2Earn, the Move2Earn model also took off, considering its huge potential for scalability and allowing users to tokenize one of the most common actions in our daily lives - walking. Since Move2Earn rewarded users for one of our daily, probably unconscious actions, it was poised to take off, having integrated multiple aspects within the crypto world including NFTs. Users could engage in real-life, healthy activities, with tangible results, only increasing the potential for real-life partnerships and mainstream adoption. Security is also a main topic within the Move2Earn model, since it is also vulnerable to exploits for malicious parties.
Sense4FIT employs a unique solution, the Fit2Earn model, a logical and natural successor to the Move2Earn model. Using a combination of both real-life technology through a fitness gadget, as well as a proprietary app, the Fit2Earn model has the best monitoring technology. Ensuring Proof-of-Activity, users get rewarded fairly for completion of workouts and not only - any wellness activity can be recorded, including nutrition and mindfulness. The Fit2Earn model employed by Sense4FIT ensures fair user rewards, in a safe and speedy manner. Through Elrond, the perfect blockchain partner, Sense4FIT benefits its users with instant payouts, low gas fees, and a friendly, intuitive user interface.