Sebastian Menge joins us to discuss on the world’s first burn-to-earn model on Fitburn.
Fit Burn – Burn to Earn. Building a bridge between Crypto and Fitness!
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The following transcript was created using artificial intelligence. There will be some grammatical errors below.
00:00:12:06 – 00:00:31:29
Richard Carthon: Hello everyone, and welcome to another episode of Crypto Current, your host here, Richard Carthon. And today I have a special guest that lives all the way out in Dubai that’s working on a project that I think a lot of people are going to be excited about, excited about as we head into 2023. Yes. Sebastian Menge , who is with the founder and CEO of Fit Burn. How are you doing today?
00:00:32:23 – 00:00:47:25
Sebastian Menge: I’m fine. Okay. So so let’s you guys from Germany. Actually, I’m just waiting for going back to Dubai because the weather here is not so nice. And it was like 20 degrees. So it’s like perfect weather and. Oh yeah, and I can’t wait to go back and work on this adventure.
00:00:48:14 – 00:00:56:09
Richard Carthon: Oh, definitely, man. Well, hope you’re enjoying some family time and holiday. But first, let’s learn a little bit more about you. Give us a little bit of background on yourself.
00:00:57:10 – 00:00:58:18
Sebastian Menge: They go from my circles like
00:01:00:16 – 00:01:35:15
Sebastian Menge: the big ones, especially for like. I’m competitive bodybuilder since 2006. So I came from fitness. I studied medicine since 2014 to 2018 actually. So I’ve also the health background and then all the people who do sports. Healthier persons, mostly because we work in hospital. I worked in my studies for like a few months and you can see many, many people with health issues. I’m not really sporty or doing sports stuff, so I guess many have issues.
00:01:35:23 – 00:02:06:12
Sebastian Menge: You can, yeah, you can prevent with sports. So I’m not into sports as Yes, that’s actually background. And I came to crypto in times of corner crisis because I time normal business was not running that good. And so I came into investing and learned about crypto and cryptocurrencies and blockchain technology and really fascinated and told myself why not combine crypto and fitness. So both things in life.
00:02:07:01 – 00:02:39:02
Richard Carthon: Yeah. So you have your, your health background, you’re doing competitive bodybuilding and this is a reminder for all those who are listening on the podcast, come check out over on YouTube, you get a look. You can tell he’s definitely a bodybuilder. Got some, some, some, some muscles on him. So make sure you go check out over on YouTube. But so working in health and well health and fitness then you coronavirus happens everyone has a little bit more time start to look in the crypto you’re like, Oh my God, this is a really cool opportunity. How can I combine my passion with crypto and fit? Bern is born.
00:02:39:04 – 00:02:40:27
Richard Carthon: So tell us a little bit about what is fit Burn.
00:02:41:28 – 00:03:05:09
Sebastian Menge: It burns a new lifestyle fitness application. Actually, the main idea was like there are many people in like poor countries, like maybe India or Egypt. All this stuff where many talents, maybe in fitness bodybuilding, but they will never came on the big stage because they don’t have the money to afford the lifestyle that’s behind the fitness. Is it only good going to the gym? That’s like eating the right foods,
00:03:06:28 – 00:03:39:21
Sebastian Menge: buy supplements, all this stuff. And when I started to have like fondue or something a month for living, and it was quite not easy to afford this lifestyle. Because of you, if you go for good food or stuff, you easily spend like €1,000 a month only for food. And if you buy some supplements like protein powder or something, you again pay like 200 to form juice a month if you do it right. So like it’s a really expensive lifestyle and I guess like many people can’t afford it.
00:03:39:24 – 00:04:15:11
Sebastian Menge: So like it’s more for the rich countries, like, I don’t know, us, Germany, Europe and all this countries have big opportunities. They want this. That’s the fitness stuff. And poor countries, it’s very, very difficult to the disaster. So the main idea was to be your own sponsor, join, join, burn and get rewarded for every drop of your sweat. So for every category you burn, Those in our application get calorie tokens for every category you burn in the end, and you can spend it for like supplements, discounted gym memberships and all that stuff.
00:04:15:14 – 00:04:21:28
Sebastian Menge: So like the the main goal is to build that in whole ecosystem and make calorie token the fitness currency.
00:04:23:04 – 00:04:55:10
Richard Carthon: Yeah, I think that’s a really unique way of approaching this. You’re calling it the world’s first burn to earn, and you’re adding a lot of elements that I think is is really crucial with for people not only not looking into their fitness, but also for those who are potentially trying to go to that next level. But like you said, it’s it can become expensive between things of you’re eating, trying to get supplements, trying to do all the other things to to to bulk up. And by earning these calorie tokens, you’re saying you can then use them to buy things like supplements and some of these things so you don’t have to then use your own money.
00:04:55:12 – 00:04:55:27
Richard Carthon: Like that is.
00:04:56:21 – 00:04:57:06
00:04:57:08 – 00:04:59:06
Richard Carthon: Very unique approach to to going after this.
00:04:59:24 – 00:05:30:00
Sebastian Menge: And then to go and just spend time in the gym. Like if you’re doing it right, you go for training like 66 days a week for one and a half, 2 hours. If you become you maybe take like 3 hours a day and you have to spend. And there’s also a time where money so you can’t go to the office at the time. So you’re in the gym training, do something for your health. And we want people get we want those so they can take some motivation. I guess people who do the sports regular get there anyway, go to the gym daily.
00:05:30:17 – 00:06:03:18
Sebastian Menge: But we also want to motivate new people to enter the gym and get into this lifestyle because I guess if you if you’re not doing competitions, it’s a really healthy lifestyle. So competition part is maybe not the heaviest in the end if you want to do it right. But all the other stuff like training and nutrition, it’s a really, really healthy lifestyle. And I guess that more people should join this. And stop drinking alcohol and stop smoking and or all the bad stuff which is damaging our health.
00:06:03:20 – 00:06:35:21
Sebastian Menge: Well, also the huge amount of money which is needed in the health system because of people not taking care of themselves in the end. And that’s a big problem for the health system in every country, I guess. Like people getting too fed. People eating the wrong stuff. People in junk food, people smoking, people drinking alcohol. So all the bad habits people have. I don’t know. But if you went to the gym and it used to to save for that, so you would love it.
00:06:35:29 – 00:06:57:00
Sebastian Menge: So it’s so encouraging people to get more active work on their health and wellness. And the way that you’re approaching this, though, is that way that people can start earning calories and that the calorie token and other things. I believe first you have to have an NFT. So can you kind of talk through how the process works for someone who wants to potentially utilize this?
00:06:57:20 – 00:07:29:26
Sebastian Menge: Yeah, actually, it’s quite easy to buy an NFT. It’s like like a bit like stepping or we did like before you buy an NFT and then you can enter the ecosystem. So in our case, you buy an NFT T-shirt, it’s like a T-shirt said burn or something. We have four different types of T-shirts. Like common wear, legendary and stuff. So, like, you have different time limits for trading. If you get the the lowest one, you have like 20 minutes. For example, if you get the highest one, you have up to 60 minutes for training. But you can also extended with boosters and stuff.
00:07:29:28 – 00:08:04:05
Sebastian Menge: You can buy an application after so that you can extend your training time. Because I guess if you start with training, it’s like good, approachable, like for 20 minutes or half an hour. But if you get usage, you want to train more be you want to earn more calorie tokens and more money in the end. And then you have the possibility to extend your train time with boosters and upgrade functions for the office. So like the the four different types. Yeah. Like. It’s like random. If you buy it, you don’t know what kind of energy we get in the end, but it’s like, like 6 million bucks.
00:08:04:16 – 00:08:36:25
Sebastian Menge: So it’s not affordable for everyone, but for the people who can’t afford it. We will integrate from day one. Also, the renting system, the people who maybe don’t want to go to sport or don’t want to do sports, but they want to take it. They can investment, they can buy like, I don’t know, two. And if these five in a few years and when that’s two different people who are really motivated to go to the gym but can’t afford to buy an energy in the end. But they have also the possibility to forget like 50% of the earnings by not buying it, renting it in the end.
00:08:37:08 – 00:08:54:11
Sebastian Menge: So I guess this is a good function for the poor countries like India, for like Egypt, and for like all those countries where six months on, this is more than a monthly income for for those people. It’s really good for us, just like a renting system. And so it’s accessible then for everyone.
00:08:55:24 – 00:09:31:10
Richard Carthon: So providing a way for people to start using this. So for people who want to initially set up UBI with these NFT starting at 600 and you get randomly selected for which one that you get. So a little bit of luck involved there. But then you also, if you don’t necessarily want to purchase one, you can rent and still earn in and be able to eventually work your way into being able to purchase one of these in the future and then kind of grow it from there. So a couple of different functions that you’d be able to go in and use this. So I know a key component that is involved with putting on fit burn is the application itself.
00:09:31:12 – 00:09:33:10
Richard Carthon: So can you tell us a little bit of information about that?
00:09:34:08 – 00:10:06:07
Sebastian Menge: No, actually we are starting the beta phase. So everyone was listening to the podcast and we’re just down the fat burn documents and from the application form and you can be one of the first people who can try the application, the first version. So it’s not ready yet for everything. Like we have some issues with, with Apple Watch and all the stuff we can fix in the next month because it’s a bit more, more difficult with Apple actually to integrate the three functions in applications. So we have to find a way around it.
00:10:06:09 – 00:10:36:27
Sebastian Menge: So like the first version is working really fine on on Android phones and rich bands and stuff and we are working on to integrate that for more and more. But it’s not the easiest way, but it’s already working. But the end is the first version and people should try it. And if there some boxes and other stuff, we can fix it until we launch in April. So the launch actually is planned for April. There’s a big expo in Cologne, like people.
00:10:36:29 – 00:10:47:07
Sebastian Menge: I don’t know if you’ve heard about it. It’s like the biggest fitness and wellbeing expo in the world, and I guess it’s a good date to launch something like an fitness application. Yeah.
00:10:47:21 – 00:11:01:16
Richard Carthon: Definitely. Especially a new way to approach it and to get after it. So for those who are listening to this right now and they want to be a beta user and they’re really excited and want to be able to test this to be one of the first people to put their hands on this, How can they get involved and do that?
00:11:02:09 – 00:11:29:18
Sebastian Menge: Actually go and sit on the net for the application and you can be one of 500 people testing the first version and you already get rewarded like for every token you get, you get like and we want system for testing and you’re also like telling us what’s wrong with the application. If there’s some stuff to fix like box and other stuff. Yeah, so everyone is free. You can join Fitbit, dot nets and they go.
00:11:30:23 – 00:12:09:02
Richard Carthon: Yeah, it sounds good. And I think one of the things that’s going to be really critical as we head into 2023 is how do we continue to get to mass adoption and then also how do we continue to have web3 applications that can survive any type of market, right? So whether it’s it’s polar bear health and wellness and fitness is always going to be critical and important and can can help. And as you kind of look at the lessons of of since you’ve been in the industry during COVID, which was a bull market into a bear, what do you think were some of the biggest takeaways that you’ve been able to incorporate as you head into 2023?
00:12:09:25 – 00:12:53:08
Sebastian Menge: As an investor, I would say I would maybe have sold something earlier. So now I’m holding most of my tokens. I bought in 2022 for the last year, for example. So there was a huge impact. But the main focus of our product is that we get new blood into the crypto space, like fitness. People never touch crypto before because like, I guess normal people don’t care so much about being a bull market because if you go to training, you get rewards. You don’t care if it’s like a bull market because in my opinion it’s also like it’s made by media or media or by from from like big, big investors who can manipulate the markets because it’s it’s every time same same approach.
00:12:53:10 – 00:13:37:26
Sebastian Menge: Like every four years we have like a bull market on stuff. And I guess it’s more like, it’s like then like people think, oh, next year we have to be in markets and then you think this be a market, you will say it’s okay with them. We already get to be a market. So like, I guess that’s the problem with it. So like the people I used to be in bull markets, especially the people who are in crypto space, and they’re a huge believer of all the psychics and all this data which is coming from the past. But we can create a new future. So if we get like new people into it, not used to it and even I guess like could be 90% like we love application and 10% crypto because we are only using the blockchain technology to give people rewards and use the benefits of blockchain.
00:13:38:20 – 00:13:46:22
Sebastian Menge: But yeah, the main approach and the main goal of main target is to see no bull or be a market focused. But yeah.
00:13:47:05 – 00:13:48:06
Richard Carthon: And I think that’s also.
00:13:48:18 – 00:14:21:18
Sebastian Menge: Because it’s only a short term like you get a huge hype maybe in the beginning and be like 50 X or something and then the people think, Oh, we’re going into bear markets and then you lose like 90% of your money again. So I guess that’s not the goal for us, like creating hype and then yeah, getting lost and the project dies after one or two years. So many projects that and the main target for us is to build like an ecosystem for years. That’s also the main point that we kept the amount of focus you can on or the amount of money you can run.
00:14:22:00 – 00:15:01:19
Sebastian Menge: Like it’s like for the moment, NFT is like $10 for record and for the rare ones, maybe like $30. So it can maybe maximum like 11ka month because it’s normally the kind of amount of money you spend for your expenses for the gym. And we don’t want people like step in like earning 50 k k because it’s always a problem with governments. I guess like if you have an application working on like 30 K and the people and like one K the governments would not like, it’s like the people play an application will use an application whether more money than with the regular job because they will not go to work anymore.
00:15:01:26 – 00:15:21:27
Sebastian Menge: So it’s a huge problem. So in my opinion it’s better to temp. It’s like somehow on a realistic amount of money you can earn then having like 50 K for one month and next month you maybe unlike $10 because the tokens are not worth well, are worth nothing after that, because people still.
00:15:23:03 – 00:15:57:02
Richard Carthon: Think that’s a good way of looking at too, because ultimately you’re always going to have people who are trying to game the system in some ways for the people, like you’re saying, who are already in health wellness and doing what they’re doing anyway. And if you’re like, Hey, if you come use this application, keep doing what you’re doing, but now you can earn some money, they could potentially use some of that money to pay for your supplements, for for gym memberships, for etc.. Like, that’s an easy sell. But for other people who come in, they’re like, oh, I’m trying to, you know, make 5000, $10,000 a month. And it’s a very different focus. It’s very much like just being there, doing the actions for the end result of the money.
00:15:57:04 – 00:15:59:18
Richard Carthon: And it’s like, how can you actually find the balance?
00:15:59:20 – 00:16:30:10
Sebastian Menge: Yeah, it’s not working because it personal. It’s not about money. It’s like your community. It’s community based like people who use application become fat burner and they also trying to build a huge community around fitness industry. So we are the main sponsor of most of the last, you know, demos. I just came back from Vegas and we also have like some big athletes from for fitness industry joining us next month. But we want to hire some more to create more and more hype until the launch. And I guess.
00:16:30:16 – 00:17:03:10
Sebastian Menge: Like giving those people involved, like fitness industry is loving us. We have more problems actually with crypto industry because for many also like because we have like moved around like step likes to make sponsorship and other stuff, but we took care of all the stuff like Tokenomics that we don’t have a policy, so we even if you take the truck nomics, there’s nothing comparable to step in or something. So like we’re not inflationary that kind of we are for staking system, we have a P system, so we integrate everything to not be the next Ponzi.
00:17:03:26 – 00:17:36:03
Sebastian Menge: But if you talk to like equip the people that are next, move to the same step or it’s the same like and said, no, it’s not the same. You have to you have to understand our project because it’s not seven it’s not like walking outside to get some tokens. And so for money, because our main focus is that the people use the tokens and we keep it inside the ecosystem. So the old folks are coming back to us like we are giving the people discounts for supplements, the supplement companies working with us of gyms and stuff.
00:17:36:20 – 00:18:05:04
Sebastian Menge: And we also make like a small amount of money out of it because we’re giving some kind of discount to the people. And some kind of discount is getting back to the we want to. So even with the purchase of stuff, the system keeps running. So that’s the main focus that the the pools are never getting empty and like there’s always the situation of tokens and the people don’t want to sell for dollars. That’s the main focus.
00:18:05:22 – 00:18:21:23
Richard Carthon: Yeah. And I think that’s an important distinction to put up there, because I’m sure a lot of people who either got into this step and ecosystem and at first either crushed it or got in late and ultimately didn’t make anything or lost money because they, you know, got in at the time that they did.
00:18:23:26 – 00:18:39:14
Richard Carthon: Allowing you to the points of how is this different? Like how why would someone be a part of it? And you’re really focused more on that community focus more on that. Reason for people to want to keep coming back and sharing with one another and keeping it within your own ecosystem. I think that’s going to be important moving forward.
00:18:41:06 – 00:18:45:13
Richard Carthon: As you look across the entire industry in.
00:18:47:10 – 00:18:54:24
Richard Carthon: What’s to come for for 2023? What do you think people should be paying attention to as this industry continues to evolve?
00:18:55:20 – 00:19:30:27
Sebastian Menge: So for me, from Forbes, in my opinion, it’s not only our project, but I guess with the approach you can use in your real life, that’s the most important part, because actually before crypto was for the people sitting on the you maybe playing games mean play to get all the millions of games that came out of last year. And I guess if you combine something good like doing sports what your anyway should do and get rewarded on something like yeah we were game like I would say like we was not metaverse because I’m not a fan of metaverse.
00:19:31:07 – 00:20:06:29
Sebastian Menge: I know that many, many young people coming into metaverse and stuff, but in my opinion it’s it’s horrible because the people who stay at home will not contact anyone like social distancing and all this stuff we don’t in this COVID pandemic. And for me, it’s like nightmare, because I love to connect with people. I love to speak with people. I love to train with people. And I guess that’s for me, the main the main points to integrate like blockchain technology in our worlds and our life habits and stuff w needs in the real world.
00:20:07:09 – 00:20:14:29
Sebastian Menge: And that’s only like sitting on desktop at home. So it’s boring in my opinion, and it’s not healthy, so it’s not in the scope of the.
00:20:15:15 – 00:20:24:28
Richard Carthon: So find a way to have real use case and be able to use it in the real world as opposed to just purely being in the virtual. And I think there’s always going to need to be that necessary blend
00:20:26:17 – 00:20:30:17
Richard Carthon: so that we can keep connecting in real life and keep having that type of response.
00:20:32:17 – 00:20:49:07
Richard Carthon: And I’m interested to see how things continue to develop. I think for where the metaverse is and where it’s growing, it has a lot to go to really get to that level of mass adoption. But people are even when that happens, people are still going to want to be able to meet and do things in the real world. So having that might be helpful for.
00:20:51:03 – 00:21:23:08
Sebastian Menge: Otherwise, I prefer to be like that in the end when media versus taking over everything. Because for me it’s like nightmare. Like people are very like dresses sitting at home and thinking they’re in another world or something. Maybe it is sometimes fun, but the B word just so many things to see, to look at, like getting into contact, like to travel and all that stuff. Like you would not have if you were in the glasses. Think you are in Australia? I think you are in the US.
00:21:23:12 – 00:21:49:02
Sebastian Menge: So because you’re busy, you’re not, you’re still sitting in your in your room and the new life is too boring. So like go out and see everything because this stuff no one can take you in the end, like memories, like all the stuff happened in your life. Like seeing new cultures, new things, meeting new people. I guess the main the main point of being a human being.
00:21:50:10 – 00:22:04:09
Richard Carthon: Is the social interactions and creating those experiences. And I think that’s a really good point and that’s we kind of wrap up here. I always like to finish with a final thought, but you want to leave everyone listening today. So what would you like to share with all of our listeners?
00:22:05:15 – 00:22:36:24
Sebastian Menge: The joint second launch on the dance floor, the application, and be one of the first to bring this so much, many more things to come in the future. And actually still hiding but. Imagine there will be gyms where you don’t have to pay for your membership. You just go in, have a football gym, train and get also rewarded not in the full amount but in the body amount. And you can train for free. I guess we can do some damage to the fitness industry before gyms like that. And there are many ideas we have in mind. It’s normally like step two step.
00:22:37:28 – 00:22:39:21
Sebastian Menge: So we take over fitness industry first.
00:22:40:10 – 00:23:05:20
Richard Carthon: Yeah. I mean, we’re coming into Disrupt, so everyone keep an eye on an unfit burn. If you are interested, make sure you go sign up to be one of those lucky few who get to be a beta tester and then get ready for that launch that is coming out in April of 2023. So, Sebastian, I really want to say thank you again for spending some time with us. You gave us a lot to think about and things to go look at. And as always, for everyone, listen, make sure you stay cryptocurrency.
00:23:07:01 – 00:23:30:18
Richard Carthon: Thank you for joining us for another episode of cryptocurrency. Cryptocurrency is a cryptocurrency and blockchain education platform, bridging the gap between curious newcomers who are just discovering the space and the thought leaders for shaping its future. All opinions expressed by Richard Carthon, the cryptocurrency team and their guests on this show are exclusively their own opinions on this show and any other crypto print production is exclusively for informational purposes.
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