We may be online more than ever before, but technology has allowed us to life-hack our way to better wellness. This trend is moving with us into the web3 world. Health and wellness are being further enhanced, not lost.

What is web3?

Web 3 is a cultural movement, an entirely different way of thinking. It goes beyond just coding and crypto. Unlike our web2 present, where intermediaries like Google and Facebook own the content we create (the very contributions we individually and collectively make to the web2 world), web3 allows creators and users to capture the value they create. And we are all creators.

The internet is built by people. Not just those who built the infrastructure where we post but the content that goes there is the heart and soul of the online world. The users’ contributions make it a place we want to visit, not the platforms themselves.

Web3 principles put the power in the peoples’ hands. It removes the present dilemma of private data in exchange for services and gives users more control over how they engage with platforms and with others online.

Wellness in Today’s World

The wellness industry is rapidly transforming. As technology evolves, better solutions are designed to improve user experience. It was once revolutionary that you could watch an exercise video online. Today, you can custom-build workouts on apps, friend people on your preferred wellness platform, track your performance from your smartwatch and have gamification designed to get you up, moving and feeling proud of your progress.

Smart devices are everywhere, acting as personal trainers and life coaches to keep us on track, and focused on the goals that matter. The goals that make us happy and keep us healthy.

Now, enter web3, and you can have all of the above, plus:

• users own their data, and
• move-to-earn and MoveFi enter the equation.
• more privacy than ever before
• unique gamification and earning opportunities

The Rise of Play to Earn and MoveFi

Play to earn (also called move to earn or M2E) is a blockchain-based concept where users are rewarded with real digital currency for their achievements. Exactly as the name suggests, they play (or move) to earn rewards. These activities can be tracked and verified on the blockchain, meaning that there is no need for a centralized platform to issue or manage rewards. There is no sneaky business.

This creates a number of advantages:

• It’s completely trustless (no single entity in control)
• It’s more secure (because it’s decentralised)
• It’s more engaging (because users are directly rewarded for their efforts)
• It’s more motivating (because there is a real incentive to participate).

This concept takes the existing practice of gamification, which is present in all fitness apps today and adds a financial portion (GamFi) to really boost the incentive.

MoveFi is then using web3 technology to create a decentralised fitness ecosystem. It does this by connecting people, apps, devices, and data on the blockchain. It’s the blending of movement technology with the financial aspects of the on-chain ecosystem.

What does that mean for wellness?

A decentralised fitness ecosystem rewards people for their physical activity with digital currency. This currency can be used to buy fitness-related products and services, it can be donated to charities, or it can be cashed in for other currencies. Users that engage with web3 fitness platforms are rewarded not only with health, but financially as well.

There is no greater motivator than that.

Learn more about PUML’s move-to-earn platforms here.

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PUML Better Health is pleased to announce our partnership with KuCoin Labs, a $100M venture capital fund focused on empowering early-stage start-ups in the blockchain space.

The KuCoin Ecosystem, in brief.

KuCoin Labs is an investment arm of the KuCoin Ecosystem, which also includes the famous KuCoin Exchange.

The KuCoin Exchange is one of the largest cryptocurrency exchanges in the world by trading volumes. It is driven by its mission to facilitate the global flow of digital value so that everyone has access to the trade of cryptocurrencies. KuCoin is now at the forefront of innovation in the crypto world and helps promote and navigate new projects into the unchartered crypto market.

About KuCoin Labs

KuCoin Labs invests in early-stage projects focused on building blockchain-based games, NFT projects, and decentralized applications. It aims to accelerate Internet development by focusing primarily on maturing the blockchain industry.

KuCoin Labs supports projects with business development services, branding and marketing services, go-to-market strategy, and business partnerships for their applications of blockchain technology. KuCoin Labs’ fund aims to invest in projects with strong and committed team members, innovative technologies and business models, a mature development stage, and a realizable product.

Partnering with KuCoin Labs marks a significant launching point for PUML Better Health, that will further empower the project and its potential to reshape the contemporary Move to Earn space.

The post Kucoin Labs Brings on PUML as a Portfolio Company appeared first on PUML Better Health.