Existing Problems

Despite the ease of access that digital fitness offers and the consistent growth of Fitness Market described earlier, there are still major problems that the industry needs to address:

The obesity rate is still on the rise, costing us a bill of 2 trillion dollars yearly and global obesity costs are expected to double to $4.27 trillion by 2035 (Bloomberg, 2023). It is a major public health concern, affecting millions of people globally, and the economic impact is staggering.
Despite the success of the initial user acquisition, the retention of the traditional Web fitness apps are extremely low. It is only 10% after the first week, with 96.3% of users abandoning the app after just one month. (Statista, 2022). One of the main issues, leading to a high dropout rate, is the lack of personalization and guidance in most fitness apps.
People often struggle to stay motivated and engaged in their fitness journey due to various factors, such as cost constraints and the complexity of Web3 technology, making onboarding challenging hindering the benefits Web3 has to offer.
Web3 solutions have been great at engaging users, but lack a sustainable system that actually works for everyday consumers and lack of fitness functionality users need.
Moreover, lack of personalized attention and coaching, the inconvenience of visiting physical gyms, and the difficulty of sticking to a consistent workout routine are also common challenges that many people face when trying to stay fit. These issues have also contributed to low retention rates and a high number of inactive users in the traditional Web fitness industry.

The market is demanding an app that identifies their fitness needs, and can engage them along their journey. There is a need for greater motivation and engagement among users, as well as more effective ways of measuring and tracking fitness progress. Finally, there is a need to bridge the gap between Web2 and Web3 technologies to fully unlock the potential of blockchain and NFTs in the fitness industry.

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Last updated 9 months ago

Existing Problems

Despite the ease of access that digital fitness offers and the consistent growth of Fitness Market described earlier, there are still major problems that the industry needs to address:

The obesity rate is still on the rise, costing us a bill of 2 trillion dollars yearly and global obesity costs are expected to double to $4.27 trillion by 2035 (Bloomberg, 2023). It is a major public health concern, affecting millions of people globally, and the economic impact is staggering.
Despite the success of the initial user acquisition, the retention of the traditional Web fitness apps are extremely low. It is only 10% after the first week, with 96.3% of users abandoning the app after just one month. (Statista, 2022). One of the main issues, leading to a high dropout rate, is the lack of personalization and guidance in most fitness apps.
People often struggle to stay motivated and engaged in their fitness journey due to various factors, such as cost constraints and the complexity of Web3 technology, making onboarding challenging hindering the benefits Web3 has to offer.
Web3 solutions have been great at engaging users, but lack a sustainable system that actually works for everyday consumers and lack of fitness functionality users need.
Moreover, lack of personalized attention and coaching, the inconvenience of visiting physical gyms, and the difficulty of sticking to a consistent workout routine are also common challenges that many people face when trying to stay fit. These issues have also contributed to low retention rates and a high number of inactive users in the traditional Web fitness industry.

PreviousTarget Market & Sectors NextProduct Proposition

Last updated 9 months ago