I can’t be the only person who has wanted to turn watts into dollars — but never knew how. Well, now there’s a way. W3:Ride, a new mobile app that “celebrates” cycling, is performing that celebration by raining cash on its users.
The company calls the currency $Cyclr, and app users who throw down miles can use it on W3:Ride’s new marketplace. To amass $Cyclr bucks, all you have to do is ride, and track your exercise with any fitness app you already use.
The company started in 2021 with a wearable called W3. The watch automatically connects to apps like Strava, Zwift, Apple, Mapmyride, etc. — even relative outliers like Suunto and Polar.
The rewards program rolls out with $5 and $10 gift cards. Riders on the app can redeem them in Starbucks, Amazon, Nike, Adidas, REI, “and more.”
“The ability to convert your cycling efforts into physical products is a completely new experience for every rider out there,” W3:Ride Co-Founder and former pro cyclist Thomas Wagner stated in a press release.
Not only can you cash in on your rides in the corporeal realm — there’s an NFT aspect of W3:Ride’s reward program, too.
Bear with me here and I’ll do my best to explain it.
First of all, the app will work like this: upon account creation, each user will receive a free “virtual bike” to begin collecting points for riding their actual, physical bicycle.
With the app release, W3:Ride will release what it calls a “genesis collection” of 8,088 unique 3D-modeled NFT bikes (and riders) to use. Cyclists at any skill level can earn cryptocurrency or tokens for their rides and build their own custom NFT bikes, unlocking “additional rewards.” Algorithms called Proof-of-Ride (PoR) formulas determine point earnings, which users can then spend on physical and digital items in the in-app marketplace.
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However much time you spend speccing and tricking out your custom NFT bike and avatar, you’ll still have to actually get on the bike to be able to do any of it.
And that can’t be a bad thing, regardless of the validity you place in NFT culture.
“Cycling is a great way to explore your town, get fit and have fun with your friends, family, and community,” Thomas said in the press release.
You heard it here first.