A study assesses the responses of 1,000 people to whether they would be willing to exercise in exchange for cryptocurrency
8% of people will exercise to keep fit in the metaverse in exchange for cryptocurrency.
The study, conducted by fitness website FitRated, included a national survey of more than 1,000 people from all backgrounds, body types and investment experiences to measure how many would be motivated to exercise in the Metaverse.
Research Highlights
The study showed that 81 percent of people would earn cryptocurrency in exchange for exercising to stay fit, and three-quarters would be interested in using cryptocurrency to sign up for a gym membership.
Unsurprisingly, over 60% of people exercise 5 days a week in a year to earn 1 bitcoin.
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In an earlier experiment by the National Bureau of Economic Research, it was found that money does not motivate people to go to the gym. But according to the data from this survey, blockchain technology can do it.
63% of respondents agree that increased motivation to exercise is the main benefit of blockchain technology. They also expect and value more reward programs (60.4%) and greater transparency (51.2%) to go along with this new fitness dynamic, the survey showed.
Preferred cryptocurrency
BTC is the number one most popular currency that people ask for in exchange for a workout. The next largest cryptocurrency,
, was also the second most popular, but this trend broke immediately afterwards. The third most searched cryptocurrency in exchange for exercise is Dogecoin Doge
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What activities do people prefer to do to earn crypto rewards?
Clearly, cryptocurrencies encourage long-distance types of physical activity, namely walking (49.1%), cycling (47.2%) or running (39.3%). Workouts that are grouped into one place, like boxing or weightlifting, aren’t as appealing, at least in exchange for cryptocurrency. 15% are motivated to engage in activities such as crypto martial arts. Perhaps those who engage in this sport will find motivation elsewhere, while those in need of financial incentives are willing to start with something as simple as walking.
Experts stress the importance of long-term commitment
Funday’s crypto expert, co-founder and partner Alex Baghdjian said in response to the survey that “making money” is attracting more consideration from those who haven’t embraced Web3 or cryptocurrencies.
He sees this as a strategic way to get a new wave of people interested in learning more about blockchain technology. “Because the money-making game has been so successful, there’s no question that this model could be just as popular and mainstream. It takes constant interaction with investors to be truly successful,”he said.
Dr. Dung Trinh, co-founder of MdDAO, believes that “Pay to Move” is an upcoming idea that is gaining traction and believes that incentivizing healthy behaviors through crypto payments will build momentum.
“We all know that exercise is important to our health and to reduce/preventing chronic diseases. Many health programs have begun to encourage their members to engage in preventive health activities such as screening mammograms, colonoscopies, etc. Add exercise to these activities. It makes sense,”he said.
However, Amar Gautam, co-founder and CEO of fintech crypto trading platform HyperLinq, holds the opposite view.
“I had to power the money at the time.
