Thank you to the Infinity Chain for participating in Ask Me Anything (AMA) with FitBurn 24 August, 2022. This guest star,
- Alexander Meurer — CIO
My name is Alex Meurer im better known on Youtube as AMCrypto and on Twitter as AMCryptoAlex , im 35 , orginally from germany and in crypto for more than 7 years . I have multiple business in crypto, live in dubai and can count most of the biggest crypto influencers my friends.
At Fitburn im the Chief Investment Officer and take care of investor relationships and fundraising.
I see FitBurn also integrate NFT, can you give us more detail about it? And tell us, what are the benefits holding your NFT?
yes and omg if you could see the NFTs already….THEY LOOK AMAZING!!!!
So the NFT will enable you to earn and to enter our eco system while you go to your gym. In partner gyms you wont need a membership as the NFT grants you the membership already but ONLY in partner gym’s in all other gyms which are not in our partner network you still have to pay for the membership in the gym.
The NFT will in anycase allow you to earn CAL Tokens by holding the NFT and using the Fitburn App.
Our NFTs have different rarities and based on the rarity of your NFT you are able to earn longer in the gym. For example with a uncommon NFT you will be able to earn 15min and with a legendary you could earn 40min.(this numbers are just examples and dont reflect the real amount of minutes).
CAL is the basic utility token of the FitBurn and the token supply will be limited. Can you tell me what the total supply is now? At what rate will this supply be limited? Will there be a token burn method in the future?
The total supply is 2 Billion Cal Token if i recall this correctly from memory right now 😅 im not a mathematician but its a slow pace when i look at the token emission model.
yes we do burn all tokens which are spent within our eco system 🔥💥.
Get your FitBurn NFT and join a GYM membership for free. Which countries and gyms will this cover globally? Are there any gym centers that you cooperate with FitBurn?
We will rollout first in UAE, Europe and USA and directly expand to Russia and the rest of the world .
We are talking to top gym holding companies in varies countries right now which are eager to workout a partnership with us.
What is your top priority for 2022? Can you share a bit about the FitBurn strategy that will implement in the near future?
Our top priority is to have an outstanding user expierence within our app and also in the gym while using the app. Thats why we are not releasing the app too fast as we want to have a “perfect” go to market product.
Besides that we are going really heavy on our marketing side too and are talking to a lot of celebrities from the fitness & sports world and also some hollywood icons to endorse Fitburn!
How will the features and upgrades of our NFT shaped t-shirts make a difference in the earnings system? What advantages between 1st level and latest level NFT t-shirt and how can we get it?
This will enhance the earning mechanism as you will be able to earn more CAL Tokens (as you receive more minutes for your workout session within the app).
One of the uses of the CAL token is to grant us users rights within the FitBurn governance system. My question: the more tokens owned, the more power a user has within the platform, or do all users have exactly the same voting power?
No , it will be as with most governance systems where the amount held in token will give you more votes .
But we are still looking at possibilties to balance this out to avoid whales controlling the governance system as this would defeat the purpose!
One of FitBurn’s main objectives is to establish contact with more than 205,000+ gyms worldwide. But how will they make this possible? What strategies will they use to put $CAL to real-life uses that will help users change their lifestyles?
We are talking already to big Gym Franchises and these franchises hold combined already over 150k gym clubs across different countries / continents. It is not like that we go to each and every gym at the corner, no we go to the parent company and they will implement it through all their gym clubs.
The gyms themselves dont have to do anything ! thats the beauty about it , they only need to become a partner ( if they want to) to get more gym fanatics into their club as everything works through our fitburn application!
Imagine the disruption in the market for that specific gym brand when people flock into their club to workout and to earn via our application . they cant get better marketing than that!
Is there a function to lock progress made and to keep track of how much calories is lost? Is there a reminder system for users ?
We havent thought about this yet but this is a good idea! I will forward this to the team and we might implement a progress system!!! 😉
Of course there is a feature to see how many calories you have lost !!!!
FUNDING is crucial to project DEVELOPMENT and maintenance especially if it’s LONG-TERM. Do you have a REVENUE GENERATION plan? How do you PLAN to generate revenue to maintain the TEAM and PROJECT to enable a long-lasting PLATFORM?
Thats 100% true!
Luckily we have already with the funding that we received so far a really long runway! Yes of course we have different revenue plans! Not only 1 !!!
we will generate revenue from our NFT Sales via the royalties, partnership fee’s, transaction fees, and much more.
DO you have tutorial videos so we can get to know your project more clearly or do you have a YouTube channel or something? can you share it with us??
We are working on an explainer video right now and will release that within the coming weeks!!!
Where can I get the latest updates or more information about your project?👈👈👈
in our Telegram Channel @fitburngroup and 1 thing guys STOP writing me in private! im not answering, im not looking at the messages!
Also for business inquiries, use the proper channels that we have and dont spam please my telegram! thank you ❤️
Staking programme is very important for any project? Can i stake your token? Do you have any plan of starting staking programme?
yes you can stake our CAL Tokens but you have to be an active user in the application to activate this feature!
Can you share to us your tokenomics? How much is the total and circulation supply of your tokens? Will there be buy back system or token burning in the future?This IS AMAZING Question PLZ ANSWAR SIR/MAM
our tokenomics will be shared once we release our whitepaper and litepaper by the end of this month! so its REALLY soon!!! the total supply is 2 billion tokens , yes we have a burning mechanism as mentioned earlier.
Is your project A community only for English speaking an countries or for users not of other languages??Thanks Sir?
no we will open groups in different languages when we see that there is massive demand for a certain region.
Thank you for trusting Infinity Chain as the organizer of the event today, hopefully everyone can understand about FitBurn.
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