What if workout programs were NFT's?
What if workout programs could be non-fungible tokens that interact with real world fitness data? NFT's are bringing blockchain tech mainstream and have many use cases. This concept outline's a vision for NFT's to be applied to fitness
non-fungible workout programs are blockchain registered assets that interact with verified health and fitness data via wearables and exercise equipment.
Non-fungible tokens (NFT’s) are changing how artists and musicians sell and distribute their work. NFT’s can also change how Fitness trainers sell and distribute their workout programs.
Workout programs are a trainers most valuable asset. When a client pays for a personal training session, they are essentially paying for a single workout program.
Example: The going rate for a single personal training session in Boston, is $150 per hour. Therefore the value of the program is $150.
A trainer can only monetize their time and not their program, in such a way that their program collects royalties.
If trainers workout programs, were converted into NFT’s, then the programs would be able to be monetized in many different ways and by many different participants.
Example 1: Alice, a trainer, could issue her original workout program, let's call it Programx, on the Ethereum blockchain and sell it, sell access to it or license it.
Bob, also a trainer, could license Programx, pay to modify it and use it for his client(s). Let's call this modified version Programz.
The value of Programx will grow the more it’s modified and used, especially when it's associated metadata shows a positive impact on clients health and fitness (i.e. lifting heavier, running faster, being more flexible, lower BMI, improved v02 max, ect.).
Example 2: A client will be able to add their data to Programx, and use the data to prove to their health or life insurance company that they have been exercising. Thus, reducing their premiums and possibly be rewarded in other ways.
Example 3: A clinical researcher might want to conduct a research study and needs to recruit participants which, in many cases, is not easy. Instead of recruiting participants to come into the lab to do the study, they could pay to access Programx’s verified data and select specific datasets from data contributors (clients) that match what they are looking for.
The argument that I make is. if a client uses a NFWP logging system for their fitness activity, then overtime these NFWP's will paint a picture about the clients health, thus making them valuable. More over, the trainers who created the NFWP's could use the programs metadata (fitness data) as their track record of success, thus improving their reputation.
Non-fungible workout programs are simply a concept. However, if NFWP’s became a reality, they would be a game changer for the health and fitness industry. Some things to consider:
- In order to avoid data entry errors, machines (wearables & fitness equipment) must do all of the logging. This requires there to be common blockchain data management standards for wearables and fitness equipment.
- Deciding which blockchain to build NFWP's on is critical. There should be a high degree of privacy, low latency and interoperability between the wearables, fitness equipment and the smart contracts.
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