Please describe your proposed solution.
To increase onboarding and adoption of web3 technologies there must be familiarity and real-world value to the user. Cyclists all over the world have been using fitness tracking apps and watches to track and report their rides for years. Their comfortability with the platforms has been established, but the value created post ride is shallow in the web2 world.
W3:Ride connects with these existing fitness systems and picks up where the fitness apps and trackers drop off. By connecting fragmented fitness tracking apps and watches to a central community users can extract more value from their rides through earning, competing, and communicating. Users wishing to bike and earn rewards are successfully brought on-chain while avoiding the friction of seed-phrases and managing digital assets across chains and platforms. This first foray into web3 walks them to the water in understanding self-ownership of digital goods, digital identity, and the power of tokenized incentives. Mobile adoption is critical to long term success of web3 as well as the key demographic of active cyclists.
The W3:Ride mobile app is a community owned platform to earn and create unique cycling centric digital assets through a custodial wallet managed by the user.
Rewarding Proof of Work By importing verifiable ride data across dozens of supported health apps, we’re able to mint and reward tokens based on our multi-variable formula of speed, distance, elevation change and more.
Ride To Mint Riding unlocks tokens used to collect, build and mint custom bike NFTs to show off, sell, trade or unlock new rewards.
Unique Art and Collaboration platform on Cardano Our team of artists and designers have created high quality bikes and accessories to allow the community to show off and build NFTs. This ecosystem enables future artists and partners to create unique bike parts for riders to collect and build with.
Community Clubs Motivate and inspire yourself and others through wagering tokens to meet your personal goals. Those that do not meet their personal goals forfeit their wagered tokens and are disbursed to those that met their goals.
Please describe how your proposed solution will address the Challenge that you have submitted it in.
We can provide a frictionless fiat alternative onramp web3 adoption by extending the capabilities of existing fitness applications. In doing so, we begin to educate and empower the ethos of decentralization and web3 through an easy-to-understand context around their hobbies and lifestyle choices.
What are the main risks that could prevent you from delivering the project successfully and please explain how you will mitigate each risk?
Launching a new product, no matter how good the product is, requires a well managed marketing strategy in order to exist out there in the world. But this usually implies a substantial and non compressible budget, especially due to rising costs in those two last years.
Therefore, the main risk for us is to stay under the radar due to the lack of a proper marketing campaign.
Fortunately, after 9months of existence we came across some very skilled and talented people in the marketing field, with the right tools to make this project meet its public.
Aside from that, we’re already building strategic partnerships with already established brands from the web2, which canbenefit from our expertise.