“A goal worth setting is worth keeping”
There are many apps that track your progress toward a fitness goal, but what’s actually enforcing it? It’s not hard to motivate people to set a goal or even take the first steps toward the goal. The problem is getting them to stick with it all the way to the end. This is called the "adherence" problem.
Here are some interesting stats about fitness adherence.
The pain of losing something you already have is stronger than the pleasure of gaining something you didn’t have before. It's called "loss-aversion". Nceno takes advantage of this concept by providing digital accountability in the form of an escrow account linked to your fitness tracker.
Interventions based on loss-aversion have been shown to be even more effective than ones based purely on reward. Even 13 weeks after the intervention, subjects in the loss-aversion group had higher adherence than either of the reward or control groups. Nceno takes advantage of both reward and loss-aversion to drive adherence.
Nceno has different modes depending on who is participating and the level of risk they want to accept. They are: group challenge, reward-only, crowd-sponsored donation, and stealth.
Read about them in detail HERE.
Depending on the mode, a host will make the parameters of a challenge and host it for anyone to join. Value in the form of cash or tokens is locked in a smart contract by the host or participants and can only be unlocked bit-by-bit by logging workouts. When a user is not making weekly progress, the portion that would go to them is redistributed among the other participants. Again, depending on the mode, this may be their own money (loss-aversion), brand points, or tokens.
Workouts are verified using a combination of GPS, Heart rate, and motion sensors and funds are secured by blockchain smart contracts.
In group challenge modes, Nceno can help two different groups of people at the same time: those who need help forming a habit, and those who already have the habit formed and now want a way to monetize it.
Consider an Instagram fitness influencer. They already have a strong workout habit necessitated by their lifestyle and brand. Nceno gives them a way to host their normal weekly habit as a challenge that their followers likely have not yet developed. The influencer likely will not miss a milestone, while it is probable that many followers will, resulting in a profit for the influencer and maybe even for a few followers. Nevertheless, the followers will have been more adherent at a cost much less than a personal trainer, and the influencer will make money from workouts they were already planning to do.
Both sides win.
For branded and corporate wellness challenges, Nceno provides a way for corporations to increase the wellness of their employees, and brands to increase engagement and retention of their customers, all while remaining risk-free for the employee/customer.
Again, both sides win.