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Fitness App Moonwalk Secures $3.4M Funding From Hack VC, Binance Labs

Key Points:

Moonwalk raised $3.4 million in seed funding, led by Hack VC, with participation from Binance Labs, Reciprocal Ventures, and Solana co-founder Raj Gokal.
The fitness app Moonwalk incentivizes healthy habits by allowing users to compete in fitness challenges and earn cryptocurrency rewards based on performance.

According to Fortune, Moonwalk Fitness, a new entrant in the health and fitness app market, has successfully completed a $3.4 million seed funding round led by Hack VC.

Fitness App Moonwalk Closes $3.4 Million Seed Funding Round

The funding round also saw participation from several high-profile investors, including Binance Labs, Reciprocal Ventures, and Raj Gokal, the co-founder of Solana.

The fitness app Moonwalk rewards users with cryptocurrency for building healthy habits. It is a program that pits any individual against friends, family, or any random stranger in competitive daily fitness challenges.

Set specific parameters for every challenge regarding the duration of the competition, daily step targets, and monetary stakes involved. Each participant can stake their contribution in USDC, Solana, or Bonk. The ones who will not reach their targets will share a portion of their deposits amongst the winners.

Built on the Solana blockchain, Moonwalk Fitness will make using blockchain technology much easier for users who have less familiarity with cryptocurrencies. Such is the trend to Move-to-Earn that was fascinating for so many users in 2022.

Future Development: Expanding Access and Features for Users

Although Moonwalk has been web-based since its launch, plans are in place for its mobile version to be well-integrated with fitness trackers like FitBit, Apple Watch, and Garmin.

Further, the mobile application, said Caitlin Cook, head of growth at Moonwalk Fitness, will allow the purchasing of credits with Apple Pay or credit cards besides crypto wallets.

The recent investment will ensure that product development accelerates, allowing fitness app Moonwalk versions to be launched on iOS and Android, with an increase in the range of health activities available to users.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.