AMA Recap Crypto Library with Fitmint

                                       

On 26th August 2022, Fitmint conducted an AMA in the Crypto Library Community. Our guest is Fitmint Team. Lots of questions as usual from the Community about Fitmint progress. The Fitmint team took part in a very interesting AMA session which included introductions, questions from twitter, and a live AMA session with the Crypto Library community. If you missed the AMA in person, read this recap for a deeper insight into Fitmint.

Let’s take a look at the most interesting points of our conversation. 

FIRST SEGMENT (HOST)
Crypto Library Team :  Could you describe what is Fitmint and why you create this project?

(Fitmint) : Fitmint is a move-to-earn game where you can earn rewards in crypto tokens and NFTs simply by walking, running, playing sports or working out. Your earn our native crypto currecy called $FITT. Why we created Fitmint: We see a challenge with the best web2 fitness app, they are not able to solve for the biggest problems in fitness i.e. consistency and motivation. we realised that web3 has the right tools to solve for it with native crypto rewards, NFT gaming, SocialFI, etc. However, even in web3, companies are more focused on the “earn” part of move to earn rather than actually solving for fitness, which leads to an unsustainable economy. Hence we saw a need to create Fitmint. 

Crypto Library Team : What are the struggles that the FitMint team has done while working on this project?

(Fitmint) : The toughest problems we’ve faced were:
1. Building out our initial community
2. Figuring out the right economy
Let me explain. With so many new move to earn apps coming up around the world, creating the initial community was challenging. We’ve always relied on being transparent, building with the community, taking their feedback and so on. For the first 2 months of building the community, I was personally online on discord 6 hours a day to ensure that everyone understood what we were building and why is was different and better in terms of the ecosystem and the economy. Thankfully we now have a community on over 150K members around the world. On the economy front, we know that no other move to earn or play to earn projects have solved it successfully yet. Hence there was no inpiration to look for from other projects and it was pretty much on us to figure out how to go about this. But over time we’re taking cues from our brilliant community and evolving how our economy works so that it’s sustainable over a long run.

Crypto Library Team :  What are the future plans of FitMint?

(Fitmint) : Our main goal has always been to solve for fitness and that will always remain true. Our broader vision is to create a digital fitness ecosystem where millions of people get fit everyday, get rewarded for their efforts and connect with their favourite fitness brands and sports athletes. And at the same time, It enables us to onboard millions of people to web3 which is struggling to get a mainstream adoption since years. The Fitmint ecosystem will have a lot of different stakeholders: players, influencers, builders, fitness centres, corporates, fitness service providers, brands, etc. We’ve written a very detailed blog on what the future over the next 12 months looks like and what our vision is:
Crypto Library Team : Could you tell us about Real World & In-Game Utility of $FITT token?

(Fitmint) : Yes, there are 3 broad utilities that $FITT will have:

1. In game: use $FITT to level up, repair your sneaker and advance in the gameplay. Participate in social competitions world wide or within your friend cirlce with $FITT and even do fun things like cutomise your sneaker NFT into 3D ones with cool new looks

2. Real world: You will be able to redeem $FITT against vouchers for fitness products or even book services like a fitness coach, dietician, psychotherapist, etc. 

3. Staking: You’ll be able to stake $FITT on our app or website and get a chance to win free sneaker NFTs, breeding tickets, etc.

Crypto Library Team :  Why does you choose Copper as a launchpad?

(Fitmint) : In order to determine the best way to list our token, we examined various options while keeping the interest of our community as the top priority. Launchpads or Batch Auctions typically favour whales and speculators, resulting in over-inflated prices. They can also encourage botting or front-running to accumulate a large share! Copper (LBP), however, enables everyone to participate with a minimum entry barrier, ensuring that the sale is as fair as possible. And on top of that, Copper also offers the benefits: Price Discovery, Open & Permissionless Participation and Fair Distribution. We’ve written a pretty detailed article here on why copper and how to use it: 
Crypto Library Team : Why is it the right investment for people?

(Fitmint) : I would go back to the answer I gave on the $FITT utilities:

1. If you’re looking to improve your health then you get to participate in the gameplay and even the real world utilities that the Fitmint ecosystem brings.

2. Even from an investment perspestive we’re just getting started. We are backed by some marquee investors like General catalyst, iSeed, Kearny Jackson, Dweb3, Polygon Studios and 1947 Rise. Even simply staking the $FITT tokens can bring users considerable amount of rewards.

Crypto Library Team : Why should people buy $FITT and enroll for the Staking Contest?

(Fitmint) : As the saying goes, you should make your money work for you. So once you’ve purchase $FITT or earned it via your workouts, why let it sit in your wallet? By simply staking the tokens on our app/website users can win considerable amount of rewards like free NFT sneakers, breeding tickets (which in essential to the gameplay) and more. more details on staking and the token sale are available here: https://fitmint.io/token
SECOND SEGMENT (TWITTER)
Crypto Library Team : Can you list 1-3 killer features of this project that makes it ahead of its competitors.? What is the competitive advantage your project has that you feel most confident about? 

(Fitmint) : IMO, one of the biggest challenges for any ‘X to earn’ game is creating a sustainable working economy. Some move to earn apps did a phenomenal job in bootstrapping the networks using the token incentives, however, they failed to sustain their growth and user engagement because their entire game was only about earning money and most of their in-game sinks were net-positive sinks where the users were spending the token only to earn more. Our goal is to create a game with a long-lasting sustainable economy where the players are spending the token for non-monetary rewards like social status, fun, fitness and entertainment. That’s why our roadmap is largely focused on creating net negative or zero sum sinks like Sneaker customization, fitness challenges, Competitions, Marathons and so on. Other than that, other areas would be:

1. Real world utility: we also plan to build a real world utility of our token by enabling the users to purchase fitness goods and services like health insurance, sports/fitness brands and apparels, gym memberships etc.

2. We don’t want to be limited to a walking/running app which defeats the purpose of promoting holistic fitness. We want to be more inclusive and reward users for all the physical activities including gym workouts, playing sports etc. To start with, we are working on apple watch integration to enable the tracking and rewarding for all kinds of workouts.

3. Unlike most of the web3 Dapps, we want to take some inspiration from web2 and design a very simplified and intuitive user experience, in order to achieve our mission of onboarding millions of users to web3 and making them fitter and healthier.

Crypto Library Team : You will make a public sale on cooper launchpad. How does a mechanical auction work, how will the price of a token change when demand increases? why didn't you make a sale on everyone's favorite known and understandable bybit launchpad? 

(Fitmint) : I already answered this, copy-pasting it here again:

In order to determine the best way to list our token, we examined various options while keeping the interest of our community as the top priority. Launchpads or Batch Auctions typically favour whales and speculators, resulting in over-inflated prices. They can also encourage botting or front-running to accumulate a large share! Copper (LBP), however, enables everyone to participate with a minimum entry barrier, ensuring that the sale is as fair as possible. And on top of that, Copper also offers the benefits: Price Discovery, Open & Permissionless Participation and Fair Distribution. We’ve written a pretty detailed article here on why copper and how to use it: 
Crypto Library Team : NFT & Gamefi projects are trending in the crypto space. So, What are the various forms of NFT plates used for? Where can we buy it? What is the use case like & what is the utility? Can users trade NFT through the built-in marketplace & can it be used outside of games?

(Fitmint) : We have our sneaker NFTs that users can purchase directly on the Fitmint app in exchange for MATIC. There are 5 types: Basics, Athlete, Pro Athlete, Special Edition and Legends. We’re only launched Basics at the moment which can be used for the gameplay. Utility: Post purchasing, users can workout and earn $FITT tokens which they can use for in game activities or in the future for redeeming real world utilities. In the near future, users would be able to trade with the sneaker NFTs in our in game marketplace

Crypto Library Team : As a newbie who is just about to start playing a blockchain game for the first time, how do I get started on GameFi? How easy would it be for me on the platform and is there a way I can get any assistance of any form from experienced gamers already on the platform?

(Fitmint) : Unlike most of the web3 Dapps, we want to take some inspiration from web2 and design a very simplified and intuitive user experience. Our goal is to make the app so simple to use that a user does not realise this is a web3 app that they are using. For any assistance we have our amazing community who helps the new joiners everyday on discord or telegram. The links are all here: https://linktr.ee/fitmintclub

Crypto Library Team :  Staking program is very important for every project? Can I stake your Token? Do you have any plan of starting staking programme? 

(Fitmint) : Yes absolutely, right from the day or our token sale, you’ll be able to stake $FITT on our app or website and get a chance to win free sneaker NFTs, breeding tickets, etc. this will be true for all $FITT tokens, purchased or earned from the app.
THIRD SEGMENT (LIVE QUESTIONS) 
Crypto Library Team : Is your project  a community  only for English  speaking  an countries  or for users  not of other languages ?

(Fitmint) : There are lot of questions around the community. We have users from 50+ countries and their channels for conversation in vernacular languages in our discord server. All links to our official communities are here: https://linktr.ee/fitmintclub

Crypto Library Team : Do you have Whitepaper if yes, please share it with as secondly do you have plans for pre-sale? Now where can we Join it?

(Fitmint) : Here's:
1. Whitepaper link in here: https://linktr.ee/fitmintclub
2. We don’t have presales since the entire point of using copper is a fair launch for everyone instead of only supporting whales which leads to pump and dump

Crypto Library Team : Partnership is always an important factor for every project. So who is your partner? What are the benefits you get from those relatiionships?

(Fitmint) : We have some amazing investors and partners. all mentioned on our website: https://fitmint.io/

Crypto Library Team :  Where can I buy your tokens now, what are your current contracts and how can I buy them and what are the benefits?

(Fitmint) : You can purchase on aug 30. register here: https://fitmint.io/token. Contract links are mentioned in the footer of the website along with audit link. FITT utlity is mentioned there as well, attaching a screenshot.


Crypto Library Team :  I This Your project only for Elite investors, how about others with small funds, is it open to everyone? 

(Fitmint) : The token sale is happening on copper to enable a fair launch. Launchpads or Batch Auctions typically favour whales and speculators, resulting in over-inflated prices. They can also encourage botting or front-running to accumulate a large share! Copper (LBP), however, enables everyone to participate with a minimum entry barrier, ensuring that the sale is as fair as possible.
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