Move-to-Earn 101: FitR Exercise Token (FXT) Explained
12 Oct 2022
Earlier this year, Move-to-Earn (M2E) started to gain traction in the crypto community. M2E follows the X-to-Earn model that provides users economic incentives for actively participating in different activities, ranging from playing blockchain games to learning new things about crypto and improving one's health.
And today, we will explore FitR and the FitR Exercise Token (FXT), a relatively new contender in the Move-to-Earn sector that uses the M2E model in tandem with artificial intelligence to improve user experience and combat cheating.
What Is FitR And How Does It Work?
Founded in the second quarter of 2022, FitR is a Web3 fitness metaverse app that leverages the Move-to-Earn (M2E) model, gamification, artificial intelligence(AI), and social features. While the project is currently under development, FitR's Beta launched in August. At this time, users can experiment on their smartphones before the application is fully launched in Q4 2022 or Q1 2023.
Like most Move-to-Earn projects, FitR aims to incentivize users to exercise more and live a healthier lifestyle. In exchange for active participation, players can earn FitR Exercise Tokens (FXT), as well as FitR Metaverse Tokens (FMT) and NFTs (via Treasure Chests) in the future.
Players must download the FitR app (available on Android and iOS) to start earning. After signing up and creating a wallet, they must head to the FitR market to purchase an XPal, an NFT avatar that is mandatory for users to earn rewards while exercising. Each XPal has different attributes, class, quality, and durability, these will impact how many coins the user can receive after their workouts.
Optionally, players can obtain equipment NFTs for each exercise to increase their potential earnings. Currently, FitR users can only earn tokens via jumping rope, with more training types (such as boxing) to be added later by the project's team. While the Jump Rope NFT is not mandatory for players to generate revenue via the activity, holding this equipment increases users' stats which in return allows them to earn more through exercise.
What makes the project unique in its sector is its AI features that FitR utilizes to track players' body movements and measure their performance. When they start an exercise, users have to put their phones in a fixed position, ensuring that their full bodies can be clearly seen through their cameras. After recognizing the player, a countdown will begin, instructing the user when to start exercising and ultimately to earn coins.
The AI will then count the player's jumps and use it to determine a score for him after the end of the exercise. This will serve as the base value for calculating one's earnings, the more you move, the higher the revenue you will earn. In addition to the actual movements, additional factors such as the XPal NFT's attribute and durability will affect the profitability of each player.
Besides these factors, players should also take their energy into account, as this is what determines how long they can earn tokens during an exercise. To put this into context, one energy is equivalent to one minute of Move-to-Earn time. Players can choose to exit the exercise when their energy depletes during a workout or carry on without earning any digital assets.
In addition to enhancing the user experience, FitR leverages AI as an anti-cheating mechanism. The project aims to identify and punish cheaters by using the following techniques:
Live detection technique that analyzes the player's movements to spot fake body, face pictures, and pre-recorded video spoof
Multi-boxing and multi-device cheating detection via generalized time-warping matching
Random game challenges
In the future, FitR will introduce social gameplay features that will allow players to connect with others in the community for multiplayer exercises. These will include team challenges, player-versus-player (PVP) battles, as well as the Exercise Master feature that will allow the best-performing users to initiate live challenges with increased token-earning potential.
What Is The FitR Exercise Token (FXT)?
The FitR Exercise Token (FXT) is one of the two tokens FitR utilizes the power of its Move-to-Earn ecosystem. Its purpose is rather straightforward: to distribute rewards to players based on their performance during exercises. As the project's official game token, FXT features an unlimited supply.
In addition to its core use case, players can burn FXT to do the following actions within the app:
Renew or repair NFTs
Level up NFTs
Speed up NFT level-ups
Mint new NFTs
Unlike FXT, the FitR Metaverse Token (FMT) has a fixed supply of 2 billion coins. FMT is the Move-to-Earn project's governance token that users can leverage to:
Vote on governance decisions via the upcoming FitR DAO
Upgrade an XPal NFT to level 40 to start earning FMT rewards (along with FXT) by burning a specific amount of FMT
Burn FMT to transfer or mint new NFTs
Burn FMT to redistribute attribute points
Currently, while FXT was rolled out in September 2022, FMT will be introduced later by the project after the full launch of the FitR app. Until that date, users' earnings are distributed exclusively in FitR Exercise Tokens.
Since its launch in September, the FitR Exercise Token has been down by 55% (as of October 11). That said, it is important to take two facts into account regarding FXT:
FXT has less than one month of market history
We are currently in a crypto winter, which started a little less than a year ago (November 2021)
Trade FitR Exercise Token (FXT) on AAX
As a relatively new project, FitR has combined the benefits of the Move-to-Earn model, social gameplay, and artificial intelligence to crack down against cheaters more efficiently and offer players an enhanced user experience.
While the FMT governance coin is awaiting its launch, players can already earn the FitR Exercise Token by completing in-app exercises.
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