Fan Tokens connect crypto to sports and provide a platform for athletes and sport teams (Clubs) to have a closer interaction with their fan base. To allow broader utility, products are integrating more innovative use cases to fan tokens. PRIMAL is leveraging the space to offer fan tokens alongside Move-to-earn .
PRIMAL is a move-to-earn fan token project that allows users to earn by working out. The PRIMAL ecosystem features Fan Token Offerings (FTO), to provide an infrastructure to issue fan tokens to reputable global athletes with a thriving fan base. The goal for PRIMAL is to create a major utility for athletes using the fan token where the athletes can set up private communities referred to as inner circles, then could launch training tutorials, and courses, and build connections with their fans.
PRIMAL was incubated by StepN, one of the well-known web3 fitness projects with successful digital asset launches. According to PRIMAL, it has licensed over 250-star athletes in major sports leagues to issue fan tokens and integrated with Apple, Fitbit, and Whoop to offer fitness features to users.
One of the features of PRIMAL is the “Inner Circle.” Inner circle is a feature that allows onboarded athletes on the PRIMAL platform to own an ecosystem within PRIMAL. When the ecosystem is established, throughout the athletes’ career, PRIMAL will serve as additional revenue streams and media engagement.
The revenue comes from the different tiers of membership offered by the athletes and the $PRIMAL paid into their vaults for exclusive access by fans who are users on the PRIMAL platform.
However, the higher the membership tier a user subscribes to, the more the user has to stake, and the more content accessed. Fans’ access to the athletes and their content include direct connection with the athletes, purchase of exclusive merch, NFT drops, and additional products within the athletes’ community in PRIMAL.
PRIMAL Move to Earn Fitness App
PRIMAL Move-to-earn rewards users for working out, then connects users to athletes. The PRIMAL Move to earn app gamifies fitness, using the biometric data from the fitness tracker to set rewards and engage users in competitions. The game brings fans closer with the provision of training camps and fan tokens.
The App basic features include the;
- Fitness app connecting users and fitness professionals
- Inner Circle allows athletes to offer training camps, meal plans, match fixtures, exclusive merch & NFTs. Then, connect with their fans.
- Fan token purchase from athletes and a marketplace to buy, sell and rent PRIMAL NFTs using $PRIMAL.
- Biometric data tracker showing users’ workout details and earnings.
- Wallet to hold earned $PRIMAL, and other rewards earned from workouts and competitions.
Users without a wearable can also access the PRIMAL Move to earn app.
PRIMAL Token Economy
$PRIMAL is the PRIMAL ecosystem native, and the governance token and is used for asset trading, staking, buybacks, in-app purchases, and governance. $PRIMAL staking offers access to the fitness app and connection with athletes through the Inner Circle and Athlete Fan Tokens.
PRIMAL Move 2 Earn rewards users in $ENRGY and improves their real-life fitness but also upgrades their PRIMAL NFT while they work out. It is the secondary token of the ecosystem launched with the PRIMAL app.
Benefits of staking $PRIMAL include Staking $PRIMAL to receive free PRIMAL NFTs, earning rewards on the dropped PRIMAL NFTs when using the move-to-earn app, and 0.5% discounts on NFT trading fees.
Staking $PRIMAL allows users to burn 50% of the received NFT trading fees to reduce circulating supply and staking rewards.
The $PRIMAL token is trading live on Kucoin, Bybit, MEXC, Gate.io, and PancakeSwap.
PRIMAL Team and Partnership
PRIMAL has a core team of six with Ben
Husted as Co-founder, Vin
Patel as Chairman. Key partners of the project include Step App, DAO Maker, and Green Machine. PRIMAL Ambassadors include Ted ‘Big Cheese’ Cheeseman,
Held English, British & IBF international belt, John Ryder, “The Peoples Champion” + #2 in WBA, Dan Azeez, Light Heavyweight British champion, Felix Cash,
Previous British & commonwealth champion, Chantelle Cameron,
Super Lightweight WC + held 3 world title belts, Denzel Bentley, 2-time British middleweight champion, Lee Selby, UK’s Longest Reigning World Champion, and Alen Babic, Fan Favourite Croatian Heavyweight.
Final thought
PRIMAL builds on the Move2Earn mechanics to give users a work-to-earn experience with access to fan tokens and athlete communities with exclusive benefits. The ecosystem is without infinite inflation, that is the token is designed to have sustained utility through Fan Tokens and the proposed athlete engagements. The attention for Fan tokens is on the high, and for PRIMAL it could be an opportunity to expand more to fitness and individual athlete communities. While there are potential benefits of engaging in fan tokens, it is important to research before investing.
Read also;
How Bitcoin Lightning is scaling payment
What do you think of this article? Share your comments below.
