Do you put on your Apple or Garmin watch to trace your steps and attempt to succeed in 10,000 on a regular basis? Now, you will get paid for it. Moonwalk Health, an app that incentivizes wholesome habits by rewarding customers with crypto, has raised $3.4 million in seed funding from lead investor Hack VC with contributions from Binance Labs, Reciprocal Ventures and co-founder of Solana Raj Gokal.
“I call it gamified accountability,” Caitlin Cook dinner, head of progress and the face of MoonWalk Health, informed Fortune, “Just trying to help people hold themselves to the goals they set for themselves.”
The app “gamifies” health by permitting customers to problem mates, household or strangers to every day competitions. The person who units up the problem can specify parameters together with what number of days the competitors lasts, the every day step objective and the way a lot every participant should deposit to enter. Gamers can submit a deposit in USDC, Solana or Bonk— a Solana-based memecoin.
If you happen to fail to succeed in the every day step depend you lose your deposit and it’s pooled and evenly distributed amongst those that did obtain the objective. If you happen to efficiently full the every day challenges, you get your deposit again and win a portion of the pooled cash.
The app is constructed on the Solana blockchain and is definitely built-in into well-liked health trackers just like the FitBit, Apple Watch and Garmin. Whereas MoonWalk will ultimately be out there on cell, it’s at the moment solely accessible by way of an internet browser. As soon as the cell app is reside, customers will be capable of purchase credit with Apple Pay or a bank card along with a crypto pockets, Cook dinner stated.
Crypto health apps have tried to seize a sustainable person base since way back to 2015. StepN is an identical platform that requires customers to buy in-game NFTs to take part. MoonWalk differs from these different crypto health apps as a result of it pays customers with mainstream tokens fairly than providing rewards with a brand new foreign money native to the platform, Cook dinner stated.
“I think MoonWalk is a little bit different in terms of game mechanics, where it’s very clear where any sort of winnings are coming from, and it’s directly from other players,” Cook dinner stated, “…It’s like the most liquid, highly used on-chain assets and soon it’s going to be supported by fiat as well.”
MoonWalk strives to enchantment to a wider viewers of non-native customers by stripping away the complexities that include utilizing crypto. “The mission for the project and who we’re going for is very focused on the mainstream consumer and building a product that they’ll actually want to use and not be too intimidated by, having the blockchain part of it fall to the backdrop,” Cook dinner stated.
The app faucets right into a broader development often called “consumer crypto” – the adoption of cryptocurrencies and blockchain expertise by on a regular basis customers for actions like gaming, trend, finance, music, and artwork.
“Moonwalk sits at the intersection of fitness and consumer crypto, unlocking an entirely new class of users. A slick mobile app will abstract crypto elements away from users, fostering simple onboarding and high retention,” Hack VC accomplice Roshun Patel stated in an announcement.
Presently, the app solely helps steps monitoring however, Cook dinner stated, the corporate will use the funding raised on this seed spherical to broaden the app’s capabilities to help all various kinds of health actions. The funding may also be used to proceed growing IOS and Android variations of the appliance, she stated.
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