Can an NFT generate real world bike sales?
Most of us will by now have some experience of the virtual world, be that via Zwift or similar cycling platform, or through recent Meta coverage, but may not sure what an NFT is, or does.
For those of us still firmly grounded in the real world, the question (even as digital natives) is, “Does any of this positively impact our cycling business?” For Zwift, with the academy, the answer is a 100% positive “Yes”. Add to that TrainerRoad, Sufferfest, Rouvy, RGT and there’s not much doubt about the way this impacts customer behaviour, and offers shops a sales channel not there in the dumb trainer era.
Still scratching your head and asking, “What is an NFT, and why should I be interested?” Click here.
For the most recent, high profile, cycling industry example; the Colnago C68 launch, where customers received and NFT of the bike as part of the purchase experience. “Great” you may say, “what do I do with that?” Well, here W3:Ride may have an answer you’ll be interested in.
What happens when your NFT owning cyclist is earning real world spendable money? And they chose to spend it with you, buying a real world bike?
W3:Ride is a next-generation fitness app which will pay users to be active, and convert biking energy to real-life rewards.
The mobile iOS and Android app promotes cycling (virtual or real world), and is launching a new reward program for its users. This new web3 powered reward program converts every pedal on a bike into points, redeemable each week for exclusive clothing, cycling gear and digital gift cards.
Thomas Wagner, Chief Business Officer points out that, “…several (W3:Ride) users that bought a digital bike in our app then went to a bike shop to get a physical bike for using the app.”
The W3:Ride app tracks details from any smartphone, Fitbit, Garmin, or smartwatch and automatically rewards a user’s commutes, weekend rides or exercises.
Creative director and Co-Founder Thomas Pomarelle explains that W3:Ride’s goals have always been to build an app that rewards users to get outside and explore the physical world, instead of being glued to a screen. “Cycling is a great way to explore your town, get fit and have fun with your friends, family, and community.”
Bring your own Bike
Doing away with monthly fitness subscriptions, W3:Ride only requires the use of a rider’s virtual bike. Upon account creation, each user receives a free virtual bike to begin collecting points for spending time on a real-world bicycle. And that’s part of the brands philosophy: allow everyone free access to a new experience of cycling with a reward system and marketplace powered by a cycling economy.
The app is available to download in the Apple App Store or via Google Play.
