🏋🏻♂️First fitness in Metaverse, earn crypto and NFTs while you exercise
GM degens 🤠 Not a great day to be alive 😢 Red is not good for our health. We took a hit on crypto space. Both BTC and ETH are down more than 5% for the day.
Our lunch menu for today
🏋🏻♂️First fitness in Metaverse, earn crypto and NFTs while you exercise
👨🏻💻Gen Z and Millennials are leading as cryptocurrency buyers
🧶 Tweet of the day
🗞️ Other news in the space
🏋🏻♂️First fitness in Metaverse, earn crypto and NFTs while you exercise
OliveX is the company who came up with the idea of combining real world exercising with a blockchain based game where you earn DOSE tokens by completing different missions such as running. Their app will track your running and give you rewards for doing so. Those rewards can be used to level up, buy NFTs or trade them on crypto exchanges.
Their token is called DOSE. According to their site:
DOSE is the token of purchase, utility and action and is the heart of the OliveX gamified fitness ecosystem. Players will receive DOSE tokens for completing workout based gameplay in Dustland Runner, Dustland Rider and other experiences. These tokens can be used to unlock items, purchase NFTs and participate in special game modes.
Here is a quick video about the token itself as well as their plans for the future.
OliveX launched Dustland Runner app back in March of this year, which is considered world's first Move-to-Earn audio fitness blockchain game.
Definitely cool concept. Their DOSE token has not been performing that great but it might have potential as they get more exposure.
We have seen a similar concept which was developed by Stepn where you earn GST token by walking, jogging, or running outdoors. Their GST token grew by almost 100% from last month. The difference in this one though, is that you have to buy shoes as NFTs from them. The cheapest will be around $1,2k. Based on some of the stats I have seen lately, it will take you roughly 40 days to get your money back, which is not that big of a deal but this assuming that their token price will be at the same price it is today. Some people argue that it is more like a Ponzi scheme, where you get paid from the money a new joiner uses to buy shoes. If no new comer joins, everything falls apart. Btw, if you are not familiar with the concept of Ponzi scheme, read this article from investor.gov.
👨🏻💻Gen Z and Millennials are leading as cryptocurrency buyers
I came across this article from Stilt where they did a resesearch on who is buying cryptocurrencies, their demographics, generation etc.
As per their research, 94% of the crypto buyers are 18-40 years old. Not that surprising to be honest. Where it gets more interesting is that it is highly dominated by millennials and Gen Z.
Based on those stats, we can clearly state that the older you are, the less likely you will buy crypto. In fact, older generations consider this a Ponzi scheme or compare it to Tulip Mania.
Here is the catch though. They go deeper in this. Now that they figured out the part which generation buys crypto more, they check from those generations which are the ones that spend more on their purchases on dollar terms.
Apparently, Gen X leads with $9.6k, followed by Millennials with $8.6k. What this tells me that, those who are Gen X and are believers in the space, tend to buy more crypto than younger generations. Which again, makes sense because Gen X got the chance to have more savings piled up and them investing with that money, it might be a tiny fraction of their net worth.
🧶 Tweet of the day
🗞️ Other news in the space
Nike's NFT Sneakers for the Metaverse Are Selling for $8K
New York Lawmakers Advance Mining Moratorium Bill to Full Assembly - We reported about this one the other day in our newsletter. There was a misunderstanding about it which was made more clear. Apparently, this would place a two-year ban on the issuance of new permits for proof-of-work mining operations proposing the use of an “electric generating facility that utilizes a carbon-based fuel.”