OliveX Fitness company who specializes in the “Metaverse” is welcoming a new addition to its virtual fitness world as it introduces the popular Stages Cycling brand to the Metaverse, becoming one of the first cycling brands to partner with the Olivex, a blockchain business.
Having recently announced partnerships with Salsation and GO24 Fitness, OliveX Fitness Metaverse has
continued its rapid expansion, bringing Stages Cycling on board ahead of the launch of the world’s first audio-based blockchain cycling game – Dustland Rider.
The deal with OliveX Fitness Metaverse will see the Stages Cycling company which is well-known for their smart bikes and power meters to offer Metaverse indoor cycling classes to users within their Sandbox, as well as virtual avatars, apparel and branded NFTs, giving users the ultimate experience and thrill of cycling utilising OliveX’s move-to-earn fitness model.
Launched in 2010, Stages Cycling company pioneered the “Power Meter” technology to allow direct force power measurement for indoor cycling bikes. Stages Cycling 50-plus years of design, manufacturing, and product experience spread out over the cycling and fitness world. Stages Cycling company is definitely a leading voice and presence in the cycling community. We see their bikes in top studios such as Soulcycle.
Stages Cycling’s VP of Global Marketing, Paddy Murray, said of the announcement: “We believe we have a fantastic opportunity for Stages Cycling to become an innovator and thought-leader in the cycling industry as we venture into new and burgeoning spaces such as cryptocurrency, NFTs and the metaverse. We have a great team that has built an incredibly strong foundation for us to grow from and we’re really excited to be able to showcase our products, brand and passion for cycling with users in the Fitness Metaverse.”
Andy Hall, Commercial Director at OliveX, was also thrilled by the addition of Stages, saying: “The team at Stages have been really impressive to us and the technology and data skills they have within the organisation are a great asset and an exciting avenue that we can explore to integrate into our emerging metaverse technology. They are a really recognisable brand with a fantastic community of riders and their passion for health, fitness and getting people active is perfect for what we’re trying to achieve in offering Indoor Cycling in the Metaverse”
Stages Cycling will be accompanied in the Fitness Metaverse by OliveX’s other acquisition within the fitness world such as TRIB3, GymAesthetics, PlayInnovation, GO24 Fitness, Salsation, TRAX, with more to come, bringing trademarked products and experiences to the platform to foster greater physical activity in the real-world.
Andy adds: “Our Fitness Metaverse portfolio is growing fast and Stages Indoor Cycling company have added a strong passionate and intelligent cycling addition to our platform, which I’m sure our already engaged community of fitness enthusiasts will thoroughly enjoy. With Stages Indoor Cycling Company inclusion to the Fitness Metaverse, we are constructing an immersive, fun and positive community of fitness organisations that will appeal to users of all ages, abilities and interests. We can’t wait to get started and begin working with them as soon as possible,” said Andy.
OliveX and Stages Cycling will work together over the coming months to launch a version of the brand’s products and ambassadors in the metaverse, complete with the best cycling avatars available, encouraging physical activity and driving revenue to the business.
This is in our opinion a. mixed blessing. It is true that this might increase the chances of people exercising but the downside is that the “Walmart effect” will harm local studios. Because when people choose to exercise at home and not at the local studio, the local studio loses revenues which leads to closure and/or financial distress. We wrote about this January 28 2022 when we reviewed the “AARMY” brand. And now that we brought that up we realize that this might backfire on Stages Indoor Cycling Company. Because if they sell less bikes to studios because less. studios are opening that will lead to losses for Stages Indoor Cycling Brand. Interesting. We will definitely follow up on this hypothesis.
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