Move-to-earn apps, a Web3 phenomenon since the early 2020s, blend blockchain tech with user-friendly features, making them engaging and effective in fostering healthier habits through monetary rewards. These apps, incorporating blockchain, AI, and gamification, not only build communities but also seamlessly introduce users to Web3 while promoting healthier lifestyles. Dotmoovs exemplifies this trend as a move-to-earn app that combines blockchain and AI to deliver an exceptional digital sports experience.
This review covers the Dotmoov founding team, the $MOOV tokenomics, app gameplay, and recent partnerships. It concludes with an analysis of the project’s strengths and potential challenges.
Introducing Dotmoovs- Game Play, App, and Partnerships
Dotmoovs is an innovative blockchain-driven app for peer-to-peer physical activity competitions. The app efficiently scores all in-app sports challenges in minutes using AI algorithms. By downloading the app for free, people worldwide can use it on their smartphones by competing and participating in different challenges.
Dotmoovs offers a dual approach to gameplay: users can either engage purely for entertainment without incurring any costs, or they can opt to make a nominal payment to partake in the competitive mode. Upon entering the game and setting up an account, players are granted an initial allocation of free XMOOVs to kickstart their journey.
Players or athletes within Dotmoovs can engage in practice or competition modes. Opting for competitive gameplay within Dotmoovs necessitates using specialized sports gear known as NFT Sports Equipment. Dotmoovs seeks to replicate the experience of real sports within its app, meaning that the more challenging the contest, the quicker your NFT equipment is depleted due to the wear and tear experienced by football cleats in real-life matches. Importantly, this gear holds functional value within the game, offering the potential to secure superior prizes and rewards through $MOOV tokens.
Dotmoovs introduces a unique gear rental feature, allowing users to lend their equipment to others. From the perspective of the renter, this translates to utilizing another player's equipment while covering the cost of the challenge. Dotmoovs boasts an internally integrated marketplace where NFT owners can share their assets, creating an ecosystem that minimizes the entry barrier for competitive gameplay while allowing both the borrower and lender to share in the proceeds.
In terms of partnerships and collaborations, the Dotmoovs team has created exciting relationships with prominent figures over the years. For instance, Cristiano Ronaldo's mother recently assumed the role of an app ambassador and actively participated in football juggling competitions, adding to the app's prestige and appeal. Beyond these partnerships, Dotmoovs extends an invitation to artists interested in showcasing their NFTs within the Dotmoovs ecosystem, offering them the potential to become valued members of the community.
Tokenomics - $MOOV
Dotmoovs native token, $MOOV, is available on 14 exchanges, including Uniswap, Pancakeswap, and Huobi. They have also closed partnerships with leading crypto projects and blockchains, such as Polkastarter, where the team successfully conducted its Initial DEX Offering (IDO).
The token fuels the ecosystem and game economy, with its main utility ranging from:
- Buy NFT gear
- Restore NFT gear
- Upgrade NFT gear
- Gain access to physical goods & enter digital sports events
- Enter Dotmoovs community events and prize pools
Founding Team & Seed Funding
Dotmoovs was established in 2021 by: Francisco Varela, Pedro Rente Lourenço, and Salomé Azevedo. Fueled by their shared enthusiasm for entrepreneurship and sports and benefiting from Pedro and Salomé's background in biomedical engineering, they shared a mission to craft a Web3 application accessible to users without prior ecosystem knowledge.
In May 2021, Dotmoovs secured approximately $1 million in funding from private investors. Up to this point, the app has garnered an impressive user base, with over 82,000 individuals from more than 190 countries having downloaded and utilized it. Although currently offering only two sports modes, the team anticipates a surge in active users as additional features and game modes roll out. One such forthcoming mode is "Fitness," slated for release in October 2023, aiming to draw an even larger user base to the app.
Analysis - Strengths and Challenges
Strengths:
- AI Integration for Growth: The integration of AI within the app represents a significant opportunity for project growth, especially given the current technological hype and its potential to revolutionize various industries. According to a McKinsey report, generative AI alone could contribute an astounding $4.4 trillion to the global economy by assisting people with everyday tasks. This underscores the immense potential for Dotmoovs to leverage AI technology.
- First-Mover Advantage: Dotmoovs enjoys a significant first-mover advantage. It stands out as one of the pioneering apps combining a Web3 element and AI in sports apps. This unique fusion differentiates it from other Web3 sports apps currently available. Moreover, while AI integration in training apps is already a proven model within Web2 applications, Dotmoovs' integration of blockchain technology and its active, loyal community provide it with the potential to grow exponentially.
- Strong Partnerships and User-Friendly Approach: Dotmoovs has strategically fostered strong partnerships, drawing considerable attention from users. Despite its cutting-edge Web3 features and token model, Dotmoovs' real strength lies in its user-friendliness and the fun it brings to the app. This user-centric approach democratizes Web3 adoption, making it accessible to a broader audience. As the team innovates by creating new gameplay modes, the app remains well-positioned to attract and onboard new users.
- B2B Opportunities: Dotmoovs is actively developing a B2B arm, allowing companies to leverage their existing AI technology. "Dotmoovs Business" provides an API for companies to build apps with scene understanding models. This API can facilitate people detection, tracking, motion planning, and 3D scene interpretation, opening up new avenues for businesses and diverse revenue streams. Furthermore, it empowers more companies to explore the transformative potential of AI.
Challenges:
- Competitive Market: The digital health and fitness app market is highly concentrated and fiercely competitive. With nearly $1.7 billion in revenue generated just last year, consumers have many fitness app options. Additionally, the emergence of Web3 fitness apps like StepN and Walken adds to the competition. However, Dotmoov's unique integration of AI and its robust community could help it overcome these challenges and carve out a distinctive niche in the market.
- Game Variety and Accessibility: Currently, Dotmoovs offers only two types of games - dance, and football. To attract a broader audience, the team is expanding its range of games and challenges to cater to people with diverse fitness interests. However, it's worth noting that to participate in competitive modes, users must purchase an NFT. This could potentially deter some individuals who lack knowledge or the financial means to acquire these initial NFTs, and addressing this barrier to entry will be an important consideration for Dotmoovs moving forward.
Future Roadmap
The team recently launched their Fitness feature and will focus on developing it even further.
For 2024, the team intends to launch many new features, including the first dotmoovs "Hubs" crowdfunding campaign and challenges with AI-on-Edge. They are also working on getting their $MOOV token holders more engaged by turning them into social promoters and letting them vote on the next sport.
Learn more about Dotmoovs:
🌐 Official website: https://www.dotmoovs.com/
📡 Official Global Telegram Community: https://t.me/dotmoovs
🐦 Official Twitter: https://twitter.com/dotmoovs
📜 Blog: https://dotmoovs.medium.com/
🕹️ Discord channel: https://discord.com/invite/dotmoovs
