1. About Sense4FIT

Sense4FIT is a Fit2Earn (F2E) hybrid ecosystem that includes both online and offline lifestyle content, sport-related activities, educational events, and competitions.

2. Project/Token Information

Part of Sense4FIT ecosystem is represented by the Sense4FIT Mobile App, which is a Web 3 Fit2Earn Lifestyle app built on the Elrond blockchain, which includes fitness, nutrition, personal development, and mindfulness with game-fi elements to help people to become better versions of themselves and get rewarded while achieving their goals.

These experiences will be linked through the $SFIT utility token, which will have multiple use cases within the ecosystem: rewards, payments, staking, and more.

Sense4FIT aims to revolutionize the fitness industry, by employing a semi-decentralized approach and ensuring a motivating incentivization reward system. The immersive Fit2Earn model incorporated by Sense4FIT rewards users for every aspect of their transformational fitness journey, incorporating nutrition and mindfulness activities. For workouts, users can train by themselves in Single Mode, join Group or Team Challenges or have an amazing experience using Metaverse games mode. In the challenge group they can bet their funds and compete against other users. This removes the monotony of regular workouts and creates a fun and heavily rewarding experience.

The Fit2Earn model is aided by Proof-of-Activity (PoA), ensuring that users are actually rewarded based on merit and progress. PoA is possible through a combination of physical and digital technology, namely a fitness tracker as well as the proprietary Sense4FIT app. The app utilizes cutting edge AI algorithms that will monitor nutritional intake through camera permissions, whereas the tracker will be used mainly for workouts and sleep tracking.

Sense4FIT has immense potential for growth and scalability. As outlined earlier, the market for fitness apps is poised to grow within the next 4 years, with web3 also becoming increasingly important. With the advancement of technology, namely fitness gadgets, Sense4FIT aims to integrate the latest tech in order to track results more accurately and improve the PoA mechanism. Furthermore, Sense4FIT is looking to develop its own proprietary tech, with the final goal of rolling out the Fitnessverse - a decentralized metaverse application where people can train freely, removing the costs of physical gyms and other inconveniences.

This proves Sense4FIT’s ambition for an international borderless expansion, not limited to a region and targeting the international fitness community. With the Coach-on-Demand option, Sense4FIT will act as a gateway for international trainers and nutritional experts, creating a marketplace for wellness services. Within this decentralized marketplace, users can access a coach at any time, catering to their needs and services. Thus, users are not the only incentivized to train, but coaches are also encouraged to improve their services in order to receive better compensation. The Coach-on-Demand option will definitely trigger further adoption of the platform, through diversification and tailored solutions catering to users’ needs.

3. Business model and revenue streams

Sense4FIT employs four different revenue streams, in order to sustain its reward system, but further options are also considered to raise funds.

The first main source of revenue stems from NFT sales. Purchasing a Sense4FIT NFT acts as your gateway to the app, allowing you to get rewarded for your workouts. NFTs are also a source of recurrent purchases from users, namely through Power-ups and Mystery Boxes. By upgrading the NFTs, users will enhance their rewards potential, creating further incentives.

Challenges are also an important revenue stream since, in order to partake, users have to lock in their funds beforehand. Thus, a user locks in their $SFIT tokens, and upon completion, the funds will be unlocked, with a reward added on top. The rewards come from the Challenge Pool, consisting of the funds of users who have failed to complete the challenge.

Team Challenges are also an important factor for revenues, since they act as a 0-sum game, with multiple participants. To put it simply, the team who has failed their challenge loses all their funds, whereas the victors receive a reward percentage on top of their locked funds, with Sense4FIT collecting its fair share as well. Team Challenges thus ensure that no mismatch occurs between the number of successful users and those who have fallen short of completing the challenge.

With the subsequent development of the Sense4FIT ecosystem, there will be a platform component. They will be adding the Coach-on-Demand concept, connecting top fitness professionals (i.e. nutritionists, coaches, wellness mentors) with users on their fitness journey. Thus, users could purchase personalized fitness classes, nutrition consultations and tailored recipes, with payment performed in the native $SFIT token. Sense4FIT will get a percentage from any transaction, acting as a Platform Fee, and as our ecosystem gains further adoption, this will become a sizable source of potential income.

4. Token Utility

The $SFIT token will be at the centerpiece of the Sense4FIT ecosystem, built on the Elrond blockchain. It will be more than just a utility token, while allowing users to participate in governance matters and voting on development matters for the project. Thus, they have envisioned the following use-cases for the token:

👉 Governance: by staking your $SFIT tokens, you will be able to actively participate in the project’s governance matters; voting power is determined by the locking period, with longer periods translating into a higher voting weight;

👉 Staking: scalable rewards will be paid out for staking the $SFIT token, based on the locking period and amount;

👉 Accrual of protocol revenue;

👉 Partner discounts: any partner discounts will be exclusive and available to $SFIT holders;

👉 Early access: $SFIT holders will be in pole-position for personalized deals and exclusive Sense4FIT product offerings.