Fight Out Move-to-Earn Token Reaches $2.58m in Funding
London, England, Tuesday 3rd January 2023 – As people aim to become healthier and wealthier in the new year, Fight Out, a Web 3.0 health and wellness platform, is seeing a huge surge in interest.
In a little over a week, since its fundraising began, Fight Out has raised $2.58 million from hungry investors attracted by the booming health and fitness sector.
Move-to-Earn and metaverse with Fight Out is the future of health and fitness
Move-to-earn (M2E) and the metaverse are both, in their own ways, the future of health and fitness but, until Fight Out came along, there was no project that sought to make this futuristic vision a reality.
According to research by Statista, the fitness industry was valued at $96.7 billion last year and is set to grow to $131.9 by 2028.
Fight Out leverages crypto technology to reward users for the fitness work they do (M2E) and incentivizes users to go the extra mile.
The platform connects the real and virtual worlds to help individuals take their health to the next level.
Those businesses that are able to capture this value proposition by executing on the M2E/Metaverse model will reap the rewards – so it is no wonder that investors are excited by the ambition of this project.
‘Fighting Fit’ theme targets combat sports stardust while gyms provide welcome way of hedging risk
Still, it may need more than just a futuristic vision to achieve success, which is why Fight Out is also punching hard on the ‘fighting fit’ theme and also rolling out a gym chain of fitness community hubs.
In case you haven’t noticed, combat sports have been growing rapidly across the globe. As such, they have become an increasingly popular activity for those looking for new ways to train and keep fit.
At the center of the growth story has been the rise and rise of mixed martial arts (MMA) and the increasing prominence of women in the sport.
With that in mind, a week ago Fight Out announced its first line-up of ambassadors, which includes Savannah Marshall, one of the world’s leading women boxers (122k followers on Instagram), and Brazilian MMA and UFC stars Amanda Ribas and Talia Santos (2.1 million and 179k followers on Instagram, respectively).
Gyms to be the community hubs for the ‘fighting fit’
The other leg of the Fight Out growth plan is its rollout of gyms, which will serve as hubs for the Fight Out community.
The physical gyms provide a way of offsetting the risk of investing in purely digital products that may struggle to gain revenue traction or to realize significant capital formation.
Each gym, alongside all the equipment, will include a co-working space, health bar and a studio where elite athletes produce video workouts for consumption in the Fight Out companion app.
Elite athletes will also hold in-person events and challenges for all comers.
The first pro fighter workout programs will be launched in Q2 2023
Fight Out aims to roll out up to 20 gyms initially, starting in the cities that have the most vibrant Fight Out communities.
The platform eventually aims to have a hub up and running in all the world's major global cities. The first Fight Out gym will be acquired in Q1.
Fight Out mobile app connects the real and virtual, introducing your avatar to the metaverse
The final major plank of the ecosystem is the mobile app, which provides the door to the virtual world of the metaverse, where each user's unique avatar lives and is linked to their real world achievements.
Strength, cardio, muscular endurance, technique and wellness encompass the five ways in which each user can become ‘fighting fit’ and see these attributes applied to their avatar.
All your progress and achievements are measured by the app to revolutionize the way we move and earn in the metaverse.
Furthermore, the app provides bespoke training programs for each user.
Simply answer a series of questions about goals, body attributes, equipment availability and things like workout durations preferences, and the app does the rest of the work.
Fight Out’s $FGHT token provides access to the Fight Out mobile app which launches in invitation-only beta as early as Q1 2023, with the full version following in Q2 2023.
Buy $FGHT tokens today to secure the lowest prices
The token is on sale now for $0.0166 (60.06 = 1 USDT) but the price doubles to $0.0333 when the $5 million raise milestone has been reached. The presale ends on 31st March 2023.
Investors need to move quickly to bag lower prices.
From the end of stage 1 the price gradually increases in linear fashion at per-second intervals to eventually reach $0.0333 by the end of the presale on 31st March. That means at every step of the way there is an incentive for investors to buy to beat the rising prices.
When $FGHT lists on its first centralized exchange on 5th April, the price of $FGHT is likely to see significant uplift as news of the project spreads.
To celebrate the start of the presale the team has launched a $250,000 $FGHT token giveaway, which one lucky investor has the chance to win.
Complete nine tasks, including joining Fight Out’s various social media channels, and become the holder of at least $250 worth of $FGHT at the time of the draw, and you could become a quarter of a millionaire!
Investors can receive a bonus of up to 50% of the tokens invested
Fight Out includes a lucrative bonus schedule in which contributors to the presale are rewarded with bonus tokens depending on the amount they invest and the vesting period they decide to opt for.
Investors can secure a 25% bonus on investment amounts of $50,000 or more and 25% on a vesting period of 24 months, which combines for a total bonus of 50%.
The full bonus schedule will stay in place for the entire presale period.
The team has introduced four new bonus tiers – contender, champion, world champion, undisputed champion – that apply when you buy $500 or more worth of FGHT tokens and vest for 24 months.
If you select the bonus amount suggested for each of the tiers and meet the investment amount criteria, then you receive a variety of possible rewards, such as a 24-month subscription to the mobile app all the way up to a 2-day camp with an ex-pro boxer.
Other rewards include REPS tokens, drops of cosmetics for avatars, merch drops and a chance to meet a Fight Out ambassador.
You can find the full details on the bonus tiers at this Tweet.
All $FGHT tokens are subject to a three-month vesting period, after which holders can choose whether they wish to extend their lock-up period for additional bonuses.
The vesting starts at the end of presale and tokens unlock every second over the vesting period chosen. Investors can claim the amounts unlocked at any time, i.e. halfway through vesting an investor can claim 50% of their tokens.
Fight Out is on a mission to transform the, up to now, dominant Web 2.0 setup, but also to overcome weaknesses it has identified with Web 3.0 Move-to-Earn as currently implemented by projects such as STEPN.
Fight Out is backed by Transak, LBank Labs, BlockMedia Labs, and Cryptonews.com.
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What the $FGHT and REPS tokens do
Fight Out is a subscription-based service and both of its two tokens – $FGHT and REPS – can be used to sign up, as can ordinary fiat currency.
There is a 25% discount for those who buy their subscriptions with $FGHT.
Rewards are earned in REPS – the off-chain in-app currency of Fight Out.
In-app goods such as cosmetic items for avatars, merchandise, remote consultations with personal trainers, or with Fight Out’s unique fight coaches, are all paid for with REPS.
Additional REPS can be purchased using $FGHT, providing another vector to underpin the value of the $FGHT token.
The team behind the Fight Out presale has been KYC-verified by CoinSniper and the project smart contract technology is Certik audited.
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