360Wellness.io/$DEFIT — Moonshot Hunters: AMA Recap

Brief Description

DEFIT is a digital fitness cryptocurrency created by 360Wellness.

What is 360Wellness.io

360Wellness is the parent Company of DEFIT. It is a unique and decentralized wellness live marketplace concept. A suite of powerful web and mobile solutions connecting people with health and fitness solutions and professionals across the world. The company aims at making physical activity affordable and accessible to anyone, anywhere. On a mission to build the largest global social wellness community.

Currently, 360wellness has digital footprints in over 170 countries.

What is DEFIT ($DEFIT)

DEFIT is the native cryptocurrency of the 360wellness ecosystem. It will be fully integrated into the ecosystem as a reliable alternative to fiat currencies. It will be essentially used as payment in exchange for consuming various health and fitness services and products.

The creators initially started out with a plan to achieve full integration of DEFIT within the 360Wellness ecosystem.

But since it was launched, DEFIT’s scope of utility has drastically increased. The team has seen tremendous traction within the fitness world. And we now DEFIT has the potential to become the #1 Digital Fitness Crypto Currency in the crypto-world, with 360Wellness only being the first adopter of it.

The Team Behind DEFIT

FOUNDER/CEO — KEVIN SEROU

KEVIN SEROU is a French Product Engineer. He has a MBA from ESMA. He moved to Singapore in January 2013 where he lived for 7 years working for the world’s 2nd largest automotive parts manufacturer, a German company named ZF Friedrichshafen.

At ZF, he rose to become Head of Product Management and Engineering for the Asia pacific region and led a team of 60+ people across 6 locations.

Kevin has first-hand experience in the world of sports and fitness having competed professionally in endurance sports and Triathlon. He notably qualified for the Ironman World Championships in 2019. Shortly before leaving his job at ZF group, he began coaching athletes online as a side hustle. And this eventually led him to the initial project idea of 360Wellness.

Chief Digital Officer & Crypto-Lead — DENIS BARRY

Dennis has a professional background in Social Media with over 11+ years of experience in the sector with digital content creation and marketing initiatives. He worked with Synthesio, a leading SML firm based in Singapore. Dennis has been in the crypto-space since early 2017 as an Investor and in Project marketing.

Kevin and Dennis have forged a strong working partnership and synergy over the years, having lived together as flatmates in Singapore for many years, before collaborating to integrate crypto-currency into the 360wellness app.

The rest of the Team:

The team currently has 15 engineers full time on the mobile and web platforms building amazing new features. As well as two tech companies equity invested in 360Wellness who work other aspects of the blockchain.

Problem Solved

“So many people spend their health gaining wealth and then must spend their wealth to regain their health.

What if you didn’t have to choose anymore?”

– 360Wellness Team

The team sets out to solve the following problems;

• Make Physical activity affordable and accessible -> addressing it via the innovative Wellness Live Virtual Classes Marketplace.
• Make physical activity more appealing, fun and rewarding -> addressing it via the DEFIT Gamification and Reward System in-app
• Security -> Creating a blockchain space to verify and approve transactions in a decentralized and transparent manner.

VALUE PROPOSITION

Imagine doing some great challenges with your friends or family whilst also earning and getting healthier. Many top fitness applications have this type of feature but none have yet to incorporate it into the blockchain.

• First Mover Advantage: Many other companies also provide digital fitness service to their users, but 360 Wellness is the first to integrate live fitness classes onto the blockchain with $DEFIT.
• Gamification to allows users to make financial gains while the lose calories
• Security, Privacy and Efficiency of Payments: In addition to users paying for the services they enjoy in the crypto, the platform also pays Instructors in Crypto. There by widening the acceptance and enhancing the value of $DEFIT overtime.

Partnerships

• Institutional and Strategic partnerships with The Global Wellness Institute and Zone5 Ventures.
• Marketing Partnerships with social media influencers to promote the platform globally
• Strategic partnerships with Celebrity fitness influencers. Getting them to promote the platform as well as have their own NFTs listed on the platform’s market place.
• Partnerships with sports brands to list their wearable devices and active wears on the platform.
• Potential partnerships with Polkadot and Binance Smart Chain to cross-chain integration and instant transactions and low gas prices.

360Wellness/$DEFIT in the News

• Awarded the most Influential Health & Wellness platform at the Fitness and Wellness Conference, Exhibition and awards in Asia in 2020.

• Shortlisted for the App of the Year award by the World Wellness Fit Summit.

Competitive Advantage

360wellness has some formidable competitors such as Classpass, Keep, Sweat, Lympo, Puml. The most notable one among them is Classpass, an established multibillion dollar company.

DEFIT operates next to some big players, however none of these players have yet to come onto the blockchain. Therefore the platform is well ahead of the curve in this regard.

Although Lympo has also been carrying out some crypto-based projects, they are focusing more on NFTs. None of their coins have gone as far as $DEFIT. They are quite limited to just tracking daily steps made by users and rewarding them with some coins and vouchers. In comparison, 360wellness aims to operate on a much wider scope with a full scale crypto-ecosystem.

The team is building an entire marketplace and product for fitness instructors to operate their business. We offer Stripe API as well as Apple and Google in-app purchase to capture all transactions from clients to coaches. The target is to hit millions of dollars in monthly transaction volume.

In addition the company has also made revolutionary ground-breaking enhancements to its app which greatly improves user experience. Quite notably, the team has built an easy to use mobile application, it is quite slick and doesn’t use the regular Menu bar function.

In summary, 360wellness not only enjoys first mover advantage, but it is also well ahead of completion in terms of product quality and scale of operation in the industry. Not only does the concept and business model stand out. But the product’s UI/UX too.

This is what got the company on the APP OF THE YEAR Awards nominees’ list.

Investors/Funding

The company has successfully raised equity seed-round in Q1 2021 and successfully completed the DEFIT IDO. Both YFDAI and Ferrum were on-board as incubators and partners for the IDO sale.

This gives the company access to significant industry expertise and solid contacts for partnerships.

The first round of pools for staking went very well. It was completed in a record time of 36 hours instead of the 5 days to stake time limit.

Also from a technology standpoint, as the company launched DEFIT Staking in April 2021, it fulfilled 30% of circulating supply into the staking pools.

Quite notably, the Ferrum Co-Founder said this was quite an achievement. It puts the company at the top of the list for staking time among 70+ other companies using Ferrum’s staking services.

Tokenomics

Platform = 360wellness

Token/Ticker= $DEFIT

USE CASES

The Use cases for DEFIT is divided into three blocks; The Investors, Users, and The Fitness Coaches

Investor Benefits

1. Staking — Being a Ferrum Advisory Service (FAS) incubated company, the DEFIT platform uses Ferrum’s staking technology which is one of the best in the industry.

2. The Burning Mechanism of Staking fees will be in effect once it begins.

3. Buyback of coins with 10% of Profits coming from the mobile application

User Benefits

1. Referral Rewards given to users for onboarding friends and family onto the mobile application.

2. Achievement Rewards based on Fitness, Nutrition, Recovery and Sleep on the 360Wellness Tracker.

3. Top users featured in the App.

4. Top Wellness User and Top Coin User Featured.

Instructor/Coach Benefits

1. Welcome Gift driving acquisition based on their most popular media channel (E.g. Facebook, Instagram, Twitter). The platform grants a % based Token once a company or fitness instructor successfully completes their profile set-up.

UPCOMING FEATURES/ROAD MAP

And now looking into building our in-app Wallet technology and cross chain integration. This shows that investors are in for the long run.

This will make DEFIT a fully-integrated part of the whole ecosystem. Driving user acquisition, adoption, engagement and loyalty.

The team has delivered everything we planned on the road map as far as Q1 2021.

For Q2 2021; The team intends to implement the following features;

• The LunaPR marketing campaigns and the Web App official Launch.
• An interactive online roadmap to give the community an opportunity to contribute actively, vote, and comment on features that they feel are most important, as well as suggest new ideas.
• Integration of Connected wearables integration into the mobile application.
• Onboarding of all the coaches and influencers
• Social network plugin that will allow people with the same hobbies to meet and chat on the 360Wellness platform.

For Q3/Q4 2021:

• DEFIT launch on new DEXs, CEXs.
• Wallet Launch and NFTs.

This shows that the company is working hard and has very solid foundations. Also the company has opened its office in France, with the government’s full support as well.

Marketing Strategies

• 14 AMAs across different Telegram Platforms in March 2021.
• The launch of Luna PR — in-house marketing agency.
• Medium articles
• Influencer Marketing with Fitness Influencers across various social media platforms especially Youtube.
• Social Media Guerrilla marketing team and Influencers who blasted 2000 mentions in 1 month, about 40+ giveaways.

All of these have proved to have significant impact as the platform reached max cap and the public sale sold out in only 2 minutes. The team is also planning for a 2nd intensive marketing campaign in May 2021 to consolidate on the current wins.