Cryptos Can Motivate 81% of People to Exercise in the Metaverse: Benzinga Study

© Reuters. Cryptos Can Motivate 81% of People to Exercise in the Metaverse: Study

81% of people in the United States are motivated to stay in shape by earning cryptocurrency to exercise in the metaverse, according to a new study.

Conducted by fitness website FitRated, the study included a survey of more than 1,000 people across the country from different backgrounds, body types and investment experiences, to gauge how motivated people would be to s train in the metaverse.

Study Highlights The study found that 81% of people would be motivated to stay fit by earning cryptocurrency for exercise and three out of four people are interested in signing up for memberships to a gym with a cryptocurrency.

Unsurprisingly, over 60% of people would exercise 5 days a week for a year to gain 1 (CRYPTO: BTC).

In a previous National Bureau of Economic Research experiment, it was found that money would not motivate people to go to the gym. But according to this survey data, blockchain technology just might.

63% of people agreed that greater fitness motivation was one of the main benefits of blockchain technology. Respondents also anticipated and appreciated more rewards programs (60.4%) and better transparency (51.2%) to support this new fitness dynamic, according to the survey.

The most preferred crypto BTC was the most sought-after currency that people demanded in exchange for their training. The next most valuable cryptocurrency, (CRYPTO:ETH), was also the second most searched cryptocurrency, but this trend broke immediately after. The third most searched cryptocurrency in exercise exchange was DogeCoin (CRYPTO:DOGE).

What activities will people prefer for crypto rewards?

Obviously, cryptocurrency drives the type of fitness that covers a lot of distance, i.e. walking (49.1%), cycling (47.2%) or running (39.3%) . Workouts that remain relegated to one place like boxing or weightlifting weren’t as appealing, at least in cryptocurrency exchange. Activities like martial arts were only crypto-driven for 15% of respondents. Perhaps those who are dedicated to these types of exercises find motivation elsewhere, while those who need a financial incentive want to start something simple, like walking.

Experts Stress Importance of Long-Term Commitments Reacting to the survey, Alex Baghdjian, a crypto expert and co-founder and partner of Funday, said the move to win, incentivizes more people who don’t have adopted Web3 or cryptography to verify it.

He sees this as a strategic way to attract a new generation of people interested in learning more about blockchain technology. “Because play-to-earn games have always been wildly successful, there is no doubt that this model could be just as popular and go mainstream. There needs to be continued engagement with investors to truly succeed,” says -he.

Dr. Dung Trinh, MD, co-founder of MdDAO, said “Pay to Move” is an upcoming idea that is gaining momentum and incentivizing healthy behaviors through crypto payment will drive the momentum forward.

“We all know that exercise is important for our health and for reducing/preventing chronic disease. Many health plans have started to engage their members in preventative health activities such as screening mammograms, colonoscopy, etc. Adding exercise to these activities makes sense.” said.

Amar Gautam, co-founder and CEO of crypto fintech trading platform HyperLinq shares a contrary view, however.

“I don’t think money can motivate someone to train long term. It has to be a different motivation than money. Crypto as a motivation for physical activity is temporary,” says Amar .

© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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Kristen T. Prall