FITBLOX: A Blockchain-based Fitness Platform Rewarding You For Healthy Habits [Interview]
For most of us, to find the inner motivation to get healthy is difficult. In fact, it starts with a plan — which we follow for a couple of days — but doesn’t end with the same plan. The goal to be fit is unfulfilled.
This is where FITBLOX.io stands out. It is a platform inviting individuals to stay healthy. And it does it through rewards — to motivate you. In fact, we got in touch with Peter Dray — the Founder & CEO — to learn more.
In this to-the-point interview, Peter explains more about FITBLOX, the reward mechanism, FBX token, the current and the future expansion strategy. Read on to learn more:
1. Can you explain FITBLOX in a simple language?
FITBLOX is a health, fitness, and social community platform, combining incentive-based rewards and social media monetization.
2. What is so exciting about FITBLOX that everyone should know about?
What if everything you are already doing from a social media perspective on Facebook, Instagram, or Twitter, you can instantly monetize?
The FITBLOX DApp will provide millions of users the ability to instantly monetize every single social media post and interaction.
FITBLOX is the intersection of user monetized social media and secure fitness tracking technology enabled by the EOS blockchain. The FITBLOX DApp will enable users to control their own data & content by providing access to secure fitness tracking technology merged with an immersive incentive-based rewards social media experience.
Our DApp will leverage DPOS as the basis for our stake-weighted voting system which will enable content creators to be rewarded by the community for sharing useful content. FITBLOX will offer users access to a symbiotic marketplace for health and fitness products and content, creating a 360° user experience.
3. Where is the FITBLOX (FBX) token used for? What are its advantages?
The FBX Token will be used as the key driver for all interaction, incentive and transactions within the FITBLOX community ecosystem. FITBLOX’s proprietary Delegated Proof of Stake (DPOS) stake-weighted voting algorithm will incentivize FITBLOX’s users to grow and advance on the platform.
FITBLOX’s users can “upvote” posts and comments similar to other blogging websites such as Steemit or social news websites like Reddit. Content creators who get upvoted will receive rewards in the form FBX Tokens.
Users are rewarded with FBX Tokens for their content, attention & interaction on the platform. Users will be rewarded for curating popular content. Curating involves post submissions, interaction, community building, contest creating, event planning as well as upvoting content. Vote strength and curation rewards are influenced by the amount of FBX stake-weighted power held by the voter on the FITBLOX platform.
What makes FITBLOX unique is that both the platform stakeholders and users are mutually aligned. The user/stakeholders are heavily incentivized to make the platform profitable by actively participating and accruing rewards in the form of FBX Tokens.
One of the key distinctions of the FITBLOX business model are that users/content creators are now cut into the monetization model. As opposed to most current centralized social media platforms that are monetizing the users.
4. What led to the foundation of FITBLOX?
In 2017, when work began on FITBLOX, it was our belief that incentive-based rewards models that “pay” users for creating and curating content were the future. We identified two major problems with existing social media apps: security and censorship.
Simultaneously, we identified a huge opportunity in the Health & Fitness sector.With 200 million users globally, fitness apps represented one of the fastest growing categories. The 2018 Under Armour Myfitnesspal breach that exposed the personal data of 150 million users gave credence to our hypothesis that bad actors wanted to exploit this data.
The synergy of these concepts led us to develop FITBLOX, which lets users track their fitness goals, share their journey with others, and be rewarded for demonstrating and encouraging inspired healthy behavior.
We believe FITBLOX is well positioned to disrupt the multi-billion dollar global fitness app market by giving users the opportunity to monetize their efforts via shared content.
5. What barriers of entry have you identified during the process of launchingFITBLOX?
The most difficult part of the process this year was navigating the ever changing market landscape for ICOs as it has shifted towards STOs. Making sure we are in compliance based on the latest regulatory guidance from a legal perspective.
6. Can you please tell us about your background and your team?
I’m Peter M. Dray — the CEO.
Brian Hazan is our Chief Operating Officer, and Brandon Parker is our Chief Blockchain Officer. We’re early-adopting crypto veterans with a shared passion for wellness, health, fitness, and competitive athletics.
Our wider, cross-functional team is comprised of Health & Wellness industry veterans, seasoned marketing experts, developers, traders, investors, and blockchain enthusiasts spanning a number of different industries. We believe our experience in launching Health & Wellness brands, paired with our blockchain expertise and expansive network of professional athletes, fitness celebrities and corporate sponsors, distinguishes our team.
We believe that our experience in launching health and wellness brands paired with our blockchain expertise and expansive network of professional athletes, fitness celebrities, and corporate sponsors distinguishes our team in a industry crowded with a ton of exciting talented people.
7. How do you perceive blockchain technology? Where do you think it is it heading in the next five years?
In my personal opinion, I see blockchain technology as the single most important technological advancement since the internet. I believe over the next 5-10 years DLT/blockchain tech will disrupt nearly every industry across every sector.
I foresee cryptocurrencies and the rise of tokenization emerging as a multi trillion dollar asset class.
8. Great. Would love to know about partnerships?
FITBLOX’s comprehensive partnership strategy will be a major driver of user acquisition and expansion.
FITBLOX will offer integration into several other user monetized social media platforms so that users can maximize their exposure and rewards potential.
Strategic partnerships within the health & fitness industry as well as the blockchain sector are core components of FITBLOX’s E-commerce strategy.
FITBLOX intends to partner with several user monetized social media content platforms & applications to accelerate user acquisition and gain market share through cross promotion.
We have several in the works that we will be announcing soon.
9. What is your most important strategy right now?
First and foremost, our goal is to develop a DApp that everyone will want use regardless of whether they are into blockchain technology or cryptocurrency. FITBLOX’s goal is to drive mass user adoption and become the first killer DApp in the space with 10’s of millions of users. FITBLOX’s mission is to become the number #1 health and fitness content aggregator globally within the next 5 years.
Onboarding well known fitness influencers, brand influencers and celebrity athletes over the next 6 months through FITBLOX Ambassador Program is integral component of our strategy to accelerate user acquisition as well.
We will be making several announcements pertaining to FITBLOX Ambassadors over the next few months.
10. What is your expansion strategy?
We are in the initial stages of the FITBLOX STO Private Sale. At present, we plan on launching the Alpha in Q2 2019, Beta in Q3 of 2019 and our GA release of the FITBLOX dApp by the end of 2019.
If you wish to participate in the FITBLOX Private Sale, feel free to contact us anytime!