As digital technology continues to advance, it’s no surprise that it’s playing a much deeper role in how we live. Lifestyle apps have become increasingly popular, with consumers turning to their smartphones for everything from fitness tracking to meal planning.
According to a report, the global fitness app market is projected to reach US$15.2 billion in value by 2028. Besides fitness apps, others are gaining influence in lifestyle technology. Non-fungible tokens, or NFTs, have also entered the game.
NFTs, which represent ownership of unique digital assets, have exploded in popularity. Catering to a wide range of attention among investors, artists and creators, the global NFT trading volume peaked at US$1.3 billion in April 2022.
Beyond profile pictures and digital arts
NFTs are often associated with digital art and profile pictures; however, their use cases are more than that. They have the potential to be a valuable addition to people’s day-to-day activities and hobbies.
One of the key benefits of NFTs is that they enable true ownership of digital assets. Meaning, individuals can collect and trade unique items, such as digital trading cards, virtual real estate, and even in-game items. This allows for a whole new level of engagement in digital collectibles, similar to the way people collect physical sports cards.
“Today, we’re seeing traditional physical art being replaced by their digital counterparts using NFT technology. It’s not just about solving copyright issues in the digital world – it’s also empowering everyday people with the opportunity to collect and use digital content like never before,” said Edmond Troung, Founder of Rebase.
NFTs are also being integrated into lifestyle apps, with fitness being a prime category. STEPN, a Web3 app that combines the elements of NFTs, gaming and movement, is a popular example whose 4.7 million registered users accumulated 67 million total miles.
Lifestyle apps using NFTs allow users to connect their physical activities with virtual assets. For instance, a fitness app can track the user’s movement and reward them with in-game points, which can be used to purchase virtual items. This creates a fun and rewarding experience for users to stay active, as the more they move, the more they can earn.
Despite the recent innovations, NFTs are not limited just to fitness gurus.
The convergence of physical and digital lifestyles
Now, more apps are leveraging the creative elements of non-fungible tokens to shape new lifestyle possibilities. With its hybrid approach to integrating NFTs into everyday life, Rebase is changing the way users enhance their activities and social interactions.
Rebase uses geolocation technology to combine the metaverse experiences happening in the real and virtual worlds. By doing so, Rebase incentivises users to go the extra mile where digital collectables and rewards can be found worldwide. Collected items can then be redeemed for NFTs, coins or other digital assets having real-world value. It has gamified aspects such as NFT minting or casual treasure hunts, to form engaging outdoor experiences.
The unique propositions of Rebase stem from its user experience based on real-world locations. This means that users have to physically move around and claim geographically-bound NFTs.
Consider the urban streets of Tokyo, or the bustling downtown city of Los Angeles, where millions of people capture additional value alongside their daily habits.
By adding the physical location component, brands that launch campaigns on Rebase can add genuine exclusivity and rarity to the NFTs being rewarded.
Also Read: 6 NFT mistakes to avoid for newbies
Beyond fitness, what’s next for NFTs?
Apps that utilise geolocation-based NFTs are no longer limited to fitness or wellness. For example, tourists can use Rebase as a means of exploring new cities or places of interest.
Collecting redeemable points adds casual fun along the way while tourists stroll through famous landmarks or historical museums.
The same can be applied to everyday people who go shopping or those who hop around for good restaurants. Restaurants and brands can launch their own NFTs, redeemable for special deals and offers that can only be attained by customers who “do work” to visit the shop and claim the NFTs.
“The world of NFTs and its incorporation in lifestyle apps offer endless opportunities for users to work, earn, spend, form connections, and share moments. Through user-friendly lifestyle apps, individuals of any background can now benefit from the valuable opportunities enabled by NFTs and Web3, which is quickly becoming the next phase of social interaction,” adds Troung.
Additionally, for people interested in concerts, events, or celebrity meet-and-greets, apps like Rebase can be used as a means of membership access. Upon arrival, fans who physically attend an exclusive event can claim gated tickets in the form of NFTs.
This can help prevent the use of forged tickets and ensure transparency in how the event ticketing process is carried out. During the event, the claimed NFT can also double down to unlock exclusive fan merchandise and perks.
Technology and social inclusivity
NFTs are powerful tools that represent a part of people’s lives in both the digital and real worlds. As Troung summarises, “they create a greater sense of identity and community bonding and have the potential to change the way digital assets are used in everyday activities.”
Also Read: DEA raises US$10M from LDA Capital to accelerate NFT gaming platform PlayMining
Successful NFTs create a strong sense of community centred around common interests. That’s why tiered memberships built around NFTs can strengthen the quality of users. For example, users can also be owners of digital Rebase land, which act as “digital NFT twins” of real locations. Based on the type of land owned, users have access to different levels of premium content, revenue streams or exclusive offers.
Anyone can own Rebase lands regardless of where they are physically located. Yet, they can still participate online to add value to regional events happening on the digital land and its real-world counterpart.
New forms of creative marketing are unleashed with the technical advantages of NFTs and Web3. How? Brands, for instance, can offer more personalised campaigns targeted at distinct participants in each tier. Brands can then take advantage of Web3 user analytics collected through the Rebase app and hence improve lifestyle experiences that consumers actually want.
NFTs in lifestyle apps have the potential to bring more value to our day-to-day activities, such as rewards for staying active or for personalized fan experiences. Better yet, it is socially inclusive for anyone in any region.
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The article was first published by The Human & Machine.
Image Credit: The Human & Machine
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