The fitness, health, and wellness industries experienced a digital revolution in 2020, as the COVID-19 pandemic altered the meaning of the word “normal” in immeasurable ways.
Working out at home was the only for millions of people to stay on top of their health for the majority of this past year. As time passed, people have adjusted to gyming from home. This is likely a behavioral change that will remain the norm for many.
360Wellness’s entry into the market was somewhat perfect timing to the looming and inevitable change the fitness, health, and wellness industries would endure as a result of the pandemic.
360Wellness and $DEFIT
360Wellness is a decentralized fitness and wellness marketplace with an exciting cryptocurrency integration on the horizon. Founded in 2019, 360Wellness developed a token called DEFIT, which is currently listed on Uniswap, SafeSwap, and Bilaxy and audited by Blockchain Consilium.
The marketplace provides trainers with a way to see clients virtually in order to generate an income from home. It also gives users the opportunity to maintain their health in a time where nothing is more valuable.
Users have access to a variety of live-stream classes and a virtual lifestyle tracker that monitors how well a person sleeps, trains, eats, and feels. Additionally, users will receive daily updates on their unique WLNS™ score along with personalized insights and recommendations on how to lead a better and healthier life. This technology has been developed by wellness industry experts and sports scientists.
Through a unique and powerful suite of mobile and web solutions, professionals and users have numerous options to coach and train. The mobile app for 360Wellness launched in October 2020 on Apple App Store and Google Play. To date, the app has been downloaded in 172 countries.
We chatted with CEO Kevin Serou to discuss 360Wellness, its ecosystem and the $DEFIT token wallet creation with blockchain integration.
Creating 360Wellness from passion
Serou obtained his MBA through ESMA and moved to Singapore in January 2013. He lived here for seven years and worked for the world’s second-largest automotive parts manufacturer. His position as the head of product management and engineering for the Asia Pacific region saw him lead a team of over sixty people across six locations.
360Wellness is the brainchild of Serou, who combined his professional and sporting career to bring 360Wellness to life. Based in Singapore, shortly before leaving his full-time job, he began coaching athletes online. Here, the initial idea of 360Wellness was formed.
Shortly before leaving my job at ZF Friedrichshafen Group, I began coaching athletes online as a side hustle. And this is what eventually led me to the initial project idea of 360Wellness.
$DEFIT will be the first cryptocurrency integration with live online fitness classes
A plan was always in place to achieve full integration on DEFIT within the 360Wellness ecosystem, explained Serou. DEFIT is the cryptocurrency coin built by 360Wellness for mass adoption within the ever-increasing global community. The aim of this innovation is to give members the power of their own digital currency that is a secure, reliable, and fast payment alternative to fiat currencies.
The DEFIT token enables in-app gamification to enhances user privacy. Fostering and maintaining user loyalty through staking and exclusive benefits are other aims of the coin. DEFIT is set to launch in Q3 of 2021.
Since it launched, DEFIT’s scope of utility has drastically increased. The team has seen tremendous traction within the fitness world. And now DEFIT has the potential to become the number one digital fitness cryptocurrency in the crypto world, with 360Wellness only being the first adopter of it.
How 360Wellness’s user tier levels and DEFIT work
360Wellness has incorporated numerous aspects of decentralized finance into DEFIT, said Serou. This will include staking, burning of the coin, and buyback of the token from the marketplace’s profit margins.
This is all aligned with one of our sales partners who is now sitting within the top 300 coins ranking. The main revenue generation will be for more users to join the live classes which we plan to bring on up to 1 million users by 2022, the more the token is used with the extra discounts the more we will be able to buy back and burn the token. This will increase the demand and scarcity of the DEFIT token.
Imagine bringing on only a few hundred coaches onto our pay-as-you-go platform and the growth they can have with only ten to twenty users on each of their live classes. You’re looking at 6,000 users for only those coaches. We have a plan to get up to 7,000 coaches in 2022 so we truly believe we can create awesome demand for our mobile application with live online fitness classes.
Benefits of holding DEFIT for trainers and customers
Benefits for a trainer includes the following:
- A welcome gift that drives token acquisition based on their most popular media channel.
- The platform grants a percentage-based token once a company or fitness instructor successfully completes their profile set-up.
- A rare opportunity to earn salaries in cryptocurrency.
Benefits for customers includes the following:
- Referral rewards are given to users for onboarding friends and family onto the mobile application.
- Achievement rewards based on fitness, nutrition, recovery, and sleep on the 360Wellness Tracker.
- An opportunity to be featured in the app as the top wellness or top coin user
The global expansion plan and roadmap for 360Wellness
Serou said that the widespread adoption of the app came as quite a surprise. After the soft launch in October 2020, there were no advertising efforts made. However, 26 instructors were onboarded to start operating, debugging, optimizing, and validating the product’s MVP and business model.
People based in Southeast Asia are the core focus of 360Wellness as it stands. The top three markets are Indonesia, the Philippines and India respectively. Most of the onboarded companies are located in Singapore currently.
He continued in saying that 360Wellness is available worldwide and classes are scheduled based predominantly on local time in Singapore.
We are now planning an aggressive sales and marketing strategy to scale from May onwards. Focusing first on the Southeast Asia market to establish ourselves as the leading online fitness company. But we are also in the process of opening our first business unit in France and discussing licensing agreements with a key fitness industry leader in the Middle East.
DEFIT wallet integration on 360Wellness
Having started the project one and a half years ago, with one soft launch and over 6,500 downloads later: 360Wellness will launch a web app, revamp marketing and sales activities and integrate the DEFIT wallet before 2021 is over. NFT user and fitness journey integration as well as planned Binance smart chain integration with DEFIT ERC-20 token are also on the cards.
The DEFIT wallet integration will be happening in Q3 and we plan to have new DEX and CEX listings leading up to this time. The cross-chain integration has a big part to play in the wallet integration to ensure users who are moving DEFIT around the wallet will have a seamless and user-friendly experience. We are looking at strong partners who can provide not only one chain solution but multiple and continuous expansion so that this issue won’t be a problem moving forward. NFTs are also on the cards for DEFIT and we are planning them for Q4 of this year.
Blockchain decentralization and the benefits for 360Wellness
As blockchain technology is increasingly utilized, Serou said he wants 360Wellness to be ahead of its competition. He believes there will be a time, in the not-so-distant future, where being on the blockchain is the norm and any business that is not on a reputable blockchain will not be trusted.
Additionally, they want to be ahead of the curve in terms of rewarding customers in a cryptocurrency versus fiat and loyalty points.
Another huge real-world use case is the massive amount of centralization that is happening with big companies such as Google or Apple. For example, right now you’re in ways funneled into using them if you want to download the apps as they are the platforms that are the most well-known and used. We would like to shift away from this centralization with our DEFIT token and Digital fitness mobile application with the decentralization of the blockchain. With our token, we can start to do this by allowing the means for it to be a payment method instead of Google Play or iOS. iOS is currently taking a massive 15-30% commission cut for any companies using their app platform. With DEFIT this won’t be added on top of the cost for the instructor or trainer and will help our business model greatly.
Achievements to date for 360Wellness
- PitchDeck Asia Awards All Categories Winner 2020
- Launchpad Sales Partnerships with YF Dai and Ferrum
- Ferrum Advisory Services Partner
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