Today we continue our M2E series and explore another interesting project, Wirtual.
Wirtual has been in development since 2019, and it launched in April 2020 as a trial platform for virtual fitness events. The app has attracted the attention of event organizers in Thailand who plan to conduct corporate events for companies such as Mitsubishi Electric Thailand (6503), Suntory (STBFY), PepsiCo (PEP) Thailand, NBA Sports Management (NBA) and Bosch Thailand (BOSH).
How does it work?
Wirtual is an activity app where people can join in running, walking, dancing, swimming, cycling and more and get rewarded with the platform’s native token $WIRTUAL.
To start earning with Wirtual, you need to complete the following steps:
- Download the WIRTUAL app from the App Store or the Google Play store;
- Register by entering your phone number and country code;
- Enter the OTP code sent to you as verification in order to enter your account;
- Connect the app to your device’s health or fitness app (compatible with all major fitness watches including Garmin, Fitbit, and Strava);
- Join Challenges;
- Submit Activity Result;
- Get $WIRTUAL.
Challenges (Run, Walk, Swim, Bike, Dance, and Workout)
There are free challenges and paid challenges.
Each type of activity differs according to the certain features:
- The Fastest
This type of challenge is based on the user’s ability to accomplish a specific distance within the shortest amount of time. The exact distance will be specified. Those with the best time and least number of submissions will place higher in the rankings.
- The Longest
In this challenge, distance is not specified. Users that have covered more distance on their chosen activity in comparison with other users will place higher in the rankings. Should there be any ties, the user that has completed that distance in a shorter amount of time will be ranked higher. If there is a tie in both distance and time, the user with the least amount of submissions will rank higher. If distance, timing, and submissions are all equal, the users will be ranked in the same position.
- Group Challenge
This challenge has a specific distance like ‘The Fastest’, but performance is measured based on a group instead of an individual user. A team of users can cooperate in order to reach the specified distance. Each user will submit their individual data which will be consolidated with the data of other team members’ to determine the final result.
Users are represented by NFT avatar characters. Upgrading your avatar unlocks special features and limited-edition clothing which is unique to each user.
There are 8 types of wearables you can include in your Avatar’s outfit:
- Headgear 1
- Headgear 2
- Headgear 3
- Medal (Coming Soon)
Wearable powers come in 5 levels. They can be purchased at the in-game marketplace.
Total Supply: 1,000,000,000
Fully Diluted Market Cap: $369,123,532
Price (at the moment of writing): $0.3693
The tokenomics are designed in a way that users burn a certain amount of their coins to:
- Buy challenge tickets;
- Buy real-world event tickets;
- Buy premium products (from Wirtual partners);
- Buy avatar clothes.
Should I join Wirtual?
The app offers a diverse array of activities – not only walking and running, but also cycling, dancing, swimming and exercising. You can decide what is more suitable for you.
Besides, you can join Wirtual for free without any additional purchases.
As always, DYOR.