Author: Nancy, PANews

Recently, the Web3 innovative health platform WELL3 achieved outstanding results in its token public sale, raising over 50 million US dollars, attracting market attention and discussion. As a "new force" in the Web3 launched in 2024, how did WELL3 stand out among many projects and achieve rapid brand growth in a short period of time? How did it use AI and blockchain technology to start a new narrative in the health industry?

Combining Web3+AI Gameplay, Launching Three Core Functions

With the increasing attention and demand for the physical, mental, and spiritual health industry, this field has become a global focus and a new economic growth point, especially with the pressures and negative factors brought about by the COVID-19 pandemic, climate crisis, and economic downturn, people's physical and mental health has been severely affected. According to the BusinessOfApps report, health-related applications generated approximately 950 million US dollars in revenue in 2023, with 56 million active users. According to the Global Wellness Institute (GWI), the value of the global wellness economy is expected to reach 7 trillion US dollars by 2025.

Despite the exponential growth of the health industry, data security and privacy protection in the information explosion era have also constrained the development of the industry. Health solutions based on blockchain have become a key focus in the market. Based on the design concept of "relaxation, reward, and meditation," WELL3, based on opBNB, uses blockchain and AI technology to build another decentralized health system that makes users "unable to stop" while ensuring users' ownership of data and providing personalized health guidance and economic incentives to motivate users to actively participate in health activities.

According to the official introduction, WELL3 has three core functions: AI Companion, Mindfulness/Wellness to Earn, and health data management. Among them, the concept of AI, as an innovation and growth engine for Web3 projects, has received significant market attention under strong market expectations. WELL3's AI Companion uses machine learning algorithms to help users customize their personal health journey. This function can provide customized health advice, encouragement, and insights by analyzing user data and interaction, as well as user preferences and lifestyles. In terms of AI deployment, WELL3 also plans to incorporate AI concepts into its Petz products. According to the official disclosure, in the future WELL3 platform, users will have their own Wellness space, where they can cultivate their own Petz, perform various tasks, and use the token $WELL to exchange for different props and equipment for their Petz to grow and evolve to earn more tokens.

Mindfulness/Wellness to Earn belongs to the X to Earn product, allowing users to track indicators such as their steps and heart rate by integrating Apple Health and Google Fit, and providing native token $WELL to encourage users to participate in health activities. Additionally, WELL3 has introduced a task system to increase user engagement, where users can earn experience points as rewards for completing each task. The tasks are mainly divided into basic tasks that integrate with users' daily activities and special tasks for limited-time challenges. Unlike previous Web3 projects such as StepN, which rely on a single fitness method and have a high entry barrier, WELL3 allows anyone to achieve deep physical and mental rest and relaxation through simple health activities such as breathing, sleeping, yoga, and meditation.

Furthermore, WELL3 returns data privacy rights to users, allowing users to access and modify their health data, thus balancing the need for data sharing and privacy.

Introducing Token and NFT Gameplay, Token Sale Raises Over 50 Million US Dollars

Token economics is an important tool for coordinating incentives in Web3 projects. $WELL is the main token in the WELL3 ecosystem, which users can obtain through health activities, NFTs, completing tasks, and content creation, and can be used to exchange for exclusive rewards such as health travel and resort accommodations. Currently, 20 resorts in 8 countries are ready to accept $WELL, and the platform will continue to expand its list of partners to broaden the consumption scenarios.

In the recent public token sale, WELL3 achieved great success, raising 10 million US dollars in just the first minute of the sale, and obtaining over 55 million US dollars' worth of ETH within 24 hours, indicating high market recognition and expectations.

At the same time, NFTs are also an important part of WELL3. For example, users can earn experience points by creating NFTs; holders of NFTs such as DeGods, Doodles, y00ts, CyberKongz Genkai, and KaijuKingz Genesis can participate in earning magic books of different rarities (rare, epic, legendary, and mythical) to exchange for $WELL in the future.

Currently, activities related to experience points and magic books are in full swing on WELL3, and users can join by invitation code and obtain them by binding social accounts, inviting friends, and completing multiple tasks (such as retweeting, following accounts, and breathing exercises). User accounts and magic book levels may become the basis for future airdrops. According to the official disclosure, the airdrop will start simultaneously with the TGE (Token Generation Event). As of now, WELL3 has attracted over 870,000 users, and the total number of independent wallets has exceeded 520,000.

The rapid growth of WELL3's short-term users can be glimpsed from the recent comments by Fenbushi Capital regarding the reasons for investing in WELL3. The institution pointed out, "The global health market has huge opportunities. GWI has predicted that the health economy will grow at a rate of 8.6% per year, and by 2027, the health economy will reach 85 trillion US dollars. WELL3 is not just a simple fitness tracker. The introduction of the "Wellness to Earn" model can motivate users to participate in daily health activities and has sustainability. Unlike previous play-to-earn models, WELL3 creates consumption scenarios for users' virtual assets and makes the consumption process interesting. For example, the AI Companion function can provide users with customized health advice and guidance, which is much lower in cost compared to hiring a personal trainer, which will also encourage platform users to become long-term subscribers, thereby promoting the long-term sustainability of the token economy. This function is also one of the most anticipated AI applications to date. In addition, the founder of WELL3 has professional knowledge in managing communities and maintains close communication with the community. A strong and actively engaged community is often an important factor in the success of a project, and in some cases, even more important than the team itself."

According to WELL3's roadmap, it plans to conduct the TGE (Token Generation Event) in the second quarter of this year and launch the MVP version of the WELL3 application, followed by the release of the Alpha version, expanding partnerships to launch WELL3 branded products, and officially launching the AI Companion function.

Overall, WELL3, by establishing a low-entry participation threshold and building a multi-scenario economic incentive, not only enhances the popularity of the application and continuously motivates user enthusiasm, but also opens up a broader health narrative space with the help of AI and blockchain, which will be the foundation for its rapid popularity and better capture of ecological value.

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