How STEPN And Steve Aoki Are Gamifying The $1.5 Trillion Wellness Industry
STEPN x Steve Aoki digital collectible.
Move-to-Earn Web3 app, STEPN, is partnering with double Grammy-nominated DJ and producer Steve Aoki and his A0K1Verse ecosystem on a co-branded digital sneaker collection.
The mint of 300 collectible sneakers will take place on the Solana blockchain. They will be sold on the MOOAR Marketplace from Oct 31 to Nov 4 for $3,500 with four design variations of each type—Walker, Jogger, Runner and Trainer.
STEPN, which launched in 2021 was the first product to be created by global gaming and Web3 development studio Find Satoshi Lab (FSL). STEPN has two to three million users active every month. Having bought a nonfungible token (NFT) of a virtual sneaker, users can sync it to their smartphone, and receive rewards when they walk, jog or run.
While the NFT market has been experiencing a cooldown of late, the partnership is bolstered by its combination of two major growth areas—gaming and wellness. According to IPSOS, the current value of the gaming industry is $385 billion and is set to reach in excess of $522 billion by 2027.
Likewise the wellness industry valued by McKinsey at some $1.5 Trillion—with an expected compound annual growth rate of 10% by 2027. A recent report by GEEIQ predicts 250% growth of sports, health and fitness within virtual environments by 2025.
A0K1Verse has spawned a series of blockchain-related projects, collaborating over the last year with outfits and individual artists including Gala Games, Snoop Dogg, Deadfellaz, Goblintown, The Sandbox, FVCKRENDER and Nickelodeon/Recur.
The idea behind the ecosystem is that it acts as a bridge between the metaverse with the real world and it also hosts real-life events such as activations at NFT LA, Veecon and NFT.NYC.
“Collaborating with STEPN is an exciting step towards bringing the metaverse and real world closer together,” said Aoki in a statement, adding that it’s “not just about fashion; it’s a bridge to the future.”
“We’re not only changing how we engage with technology, but embracing the opportunities that this new technology offers.”
Shiti Manghani, COO at Find Satoshi Lab compares Aoki’s mission to bridge the two worlds with that of FSL. “Our goal is to bring the mainstream audience into the Web3 ecosystem,” she said. “This partnership highlights our commitment to this cause, and underscores the immense potential of our industry.”
