This month Gritti announced the close of $1.7 million in seed funding that will enhance Gritti’s ability to create a consistent and efficient conversion pipeline between Web2 and Web3. The new gameplay that has added social functions and team attributes may attract a group of old players who are optimistic about sports to Earn.
A true story of how the protagonist threw himself into cryptocurrency mining during Bitcoin’s first gold rush in 2013, and then left the scene alone.
Developed by former early Coinbase employee and VP Dan Romero, Farcaster has been in beta testing for over a year, with a very cautious pace of development even during a wild bull market.
Gritti is a Web3 application that actively assists its users to achieve their exercise goals and maintain a healthy lifestyle. Created by a team with over 10 years of operational experience, the app is used by over 100 million runners and 45,000 running teams, Gritti will define the gold standard for running in the Web3 world by bridging the gap between the physical and digital worlds, And change how rewards are earned, how value is created, and how contributions are perceived.
Move to Earn
The basic concept of Move to Earn is simple.Users can earn the in-app token GRI by equipping themselves with sneaker NFTs while running outdoors. Various factors in the game and in the real world can affect the earning potential of each pair of sneakers.
Instead of creating a cryptocurrency wallet outside the app, Gritti users can follow a few simple steps to create a cryptocurrency wallet within the app. Instead of creating a cryptocurrency wallet outside the app, Gritti users can follow a few simple steps to create a cryptocurrency wallet within the app. Initially, the wallet will only be able to hold BNB, GRI and GRT, but will later be expanded to allow other major cryptocurrencies to be held.
Game mode
In Gritti, users can participate in various game modes and earn in-app tokens.
Single player mode
Normal Running: Just equip a Sneaker NFT and start running to earn GRI
Challenge System: A time-sensitive system for long-term challenges, whose difficulty is consistent with account level and user ability, and can be activated using GRI.
Ranked Mode (to be released)
Organized by peer-to-peer invitations or an algorithm-based matching system, users are able to compete against each other. Users will be ranked by metrics such as number of wins, best time to play, distance, and more. Competition formats include: 1V1 speed and distance competition, group-to-group speed and distance competition.
Bonus Pool Mode (to be released)
Runners cooperation: 5km (5GRI), 10km (10GRI) and 20km (20GRI) challenges will be carried out in the same runner cooperative organization every week. The completed runners will automatically enter the lottery system, and a certain percentage of the participants will Earn tiered rewards.
Online Marathon: Users can sign up for quarter, half, and full marathon events with varying amounts of GRI; the prize pool will consist of registration fees and other reward packages, and those who complete the event can share proportionally.
Long-distance relay race: Teams of 3-5 people register together according to different distances; users need to commit the registration fee and put it into the prize pool for those who complete the race to share proportionally.
Other game modes (in development)
- Treasure Hunt Mode: Similar to Pokémon Go, people can find loot boxes.
- Custom Mode: Will be developed by the community
Additionally, users can use the earned in-app tokens to build and/or upgrade their Sneaker NFTs. The Gritti team chose to give users more freedom to create their own sneaker NFTs by assembling different sneaker components with the app, rather than just pre-set shoe types.
This opens up a whole new level and is unique to Gritti.
It greatly enriches the user experience, adds an emotional attachment to sneaker NFTs, provides opportunities for brand/artist collaborations, and allows users to trade their creations. A whole new class of “shoemakers” can come to test their artistic and algorithmic skills.
The fun doesn’t stop there. Since the Gritti team will also create a system to mimic real-world situations, this will also affect various properties of the Sneaker NFT. These environmental factors include interval speed, location (road, beach, forest, mountain, stadium), weather (hot, cold, rain, snow), altitude (flat, uphill, downhill), and time of day and day of the week, This allows the user to make adjustments to achieve the best results for different situations.
Run in groups
In my opinion, Gritti is also trying to play with a little sociality. The Gritti team has extensive experience driving user growth through Runner Co-ops, where runners share locations, interests, goals, gender, fitness levels, and more beyond the digital realm. Freely connect with each other. Safer workouts, more motivation, better performance, less churn, and a sense of community are just some of the benefits that come with runners spontaneously forming groups.
The potential use cases here go well beyond economics
A brand could choose to reward its most zealous designers, an insurance company could encourage more runs to reduce claims costs, an organization wanted to sponsor an athlete, or a professional sports team used MCS to drop an NFT to announce a specific collaboration.
MCS embodies additional value and incentivizes users to contribute to the ecosystem, which rewards users not just for staying in the Gritti ecosystem, but for contributing to it.
NFT economy
As the core of Gritti’s digital asset foundation, the value of Sneaker NFT can be roughly summarized as follows:
- Technical Value: Sneaker NFTs are 3D and can be assembled using various sneaker components that can be purchased or obtained through loot crate fragments.
- Design Value: The collaboration of in-house designers and artists will draw attention and interest.
- Intellectual Property Value: Brand Co-branding Opportunities.
- Source of income: make money from mobile (running), create money (build NFT for sneakers), make money from goods (create physical products), MCS provides additional value-added services, such as airdrops, membership benefits, exclusive activities, etc., and even derivatives such as physical shoes value of the product.
- Sense of community and social engagement: A sneaker NFT may represent an activity that a user’s runner team is involved in, or an activity that is involved in the community as a whole. Sneaker NFTs can provide social resiliency value and be able to demonstrate the user’s running ability to others.
Team development
The Gritti team not only has a track record of building mainstream running-centric lifestyle applications, but also has extensive industry resources to create use cases in the digital and physical worlds and is deeply involved in bringing the benefits of the Web3 lifestyle to the masses. Hosting hundreds of online marathons and product testing events, the Gritti team has developed a robust anti-cheat system that uses GPS, biometric data and AI algorithms to spot unnatural/inconsistent movements.
This month Gritti announced the close of $1.7 million in seed funding that will enhance Gritti’s ability to create a consistent and efficient conversion pipeline between Web2 and Web3. “We led this round for Gritti because we believe not only in their team, but also in their vision and mission to create a sustainable social fitness platform,” said Nicole Zhang, partner at Lingfeng Innovation Fund.
Take a look
I think Gritti’s new attempt is very meaningful given the success of STEPN. The new gameplay with added social functions and team attributes may attract a group of old players who are optimistic about sports toEarn.
What’s more, we have gained health in sports, the founders have obtained big villas, and we of Web3 have a bright future.