The Gritti (GRI) token is an in-app token on the world's first social fitness (SOFI) decentralized application invented by runners for runners. The token motivates these participants as they can record and analyze their running statistics and earn tokens in the different game modes. GRI has an unlimited supply, and its burning mechanism is through gamification, event participation, whitelisting, and purchasing unique products. Users can earn GRI by equipping a Sneaker NFT and begin running outdoors. Various factors influence how users earn GRI, such as the Sneaker NFT attributes, Sneaker NFT types, Durability, Sneaker NFT Levels, and Sneaker NFT rarity. When users join the platform, they initally earn "Pending GRI," which can be used to show users how to use the real GRIs and then they can convert them after a 21-day trial period.
A Bit About Gritti
GRI is a token under a SOFI app founded by runners for runners with its co-founders being Feng, its current CEO, Wilson, the CTO, and Joe, the Chief Marketing Officer. The token stands for Great Resilient Incentive, used in the application to reward runners for their activities and event participation. Even if the application is not actively used, users continue to earn GRI. The users need to have a Sneaker equipped in their app and move in a human-like manner to ensure token earnings remain active. The token can be described as a reward for fitness given to enthusiastic runners.
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GRI is an in-app token that functions on the Gritti Application, promoting social fitness. The token was founded by runners and for runners, and it rewards them for their activities. Additionally, users purchase Sneakers to generate Energy and earn more GRI. Users can utilize the token to equip themselves with NFT Sneakers by building, purchasing, or minting GRI. The in-app token has an unlimited supply and is the primary token for use throughout Gritti. GRI burning mechanisms include purchasing unique products, whitelisting them, gamification, and event participation rights. Runners enjoy the social fitness rewards through the token, and they can analyze their progress to assess how they can earn more tokens.
Utility of Gritti?
Fitness and health enthusiasts can use this token as it gives them rewards based on their running. Users purchase the NFT sneakers and use them depending on the type they bought and earn differently. Dominant attributes of these sneakers influence the number of GRI tokens generated. The higher the efficiency, the more GRI tokens are generated per Energy used. The ventilation attribute also affects the level of additional rewards people receive. Also, durability rates influence the GRI earning efficiency rate.
Users can level up their Sneakers NFTs by spending GRI, and each level-up has a fixed duration. The time and GRI required increase depending on the level of the Sneaker. It's a process that can be hastened by spending more GRI, and some milestones cannot upgrade the Sneaker NFT unless one has run a specific distance.
Users can play different modes of games to earn GRI. For instance, users can stake routes they land on in Monopoly Mode, extract an amount from the challenger, and make GRI during these runs. Users can earn GRI by staking such routes and influencing users to explore new trails.
Gritti Price detailsBSC Contract address: 0xd767713e787cb351e4dafb777dd93d54f5381d29
›› Details & Tokenomics
Advantages of Gritti+ It facilitates a healthy lifestyle as an in-app token for Gritti.
+ Users utilize GRI to upgrade their NFTs.
+ Grants access to game mode participation within the Gritti ecosystem.
+ Holders of GRI have an event participation right related to Gritti.
+ Enables whitelisting and purchasing of special products.
Disadvantages- GRI is relatively new to the crypto market.
- The token and its ecosystem are still under development.
- It is susceptible to price volatility.
- There is competition from other move-to-earn tokens.
- Limited crypto exchanges list Gritti.
Costs▪ Rated at 8.5/10
The costs depend on the exchange you use, but since it's a BNB chain token, the costs are low. Users purchase the sneakers using BNB, which determines the amount of GRI one can earn. Users need one point of Energy corresponding to a 1 km distance to earn GRI. Energy is replenished at a rate of 6.25% of the maximum Energy every six hours over a four-day period that lets users rest and replenish.
Reputation and Buzz▪ Reputation rated at 7.5/10
▪ Buzz rated at 8.5/10
The token operates under an app that organizes runner training programs for more than 5 million users. People are excited to participate in the training programs such as the 5 km "Quick Run," 400m "high intensity" runs, recovery runs, and Cardio runs. Users anticipate more developments in the token as it is part of their journey in the practical completion of training which pushes their running to the next level.
What is GRI Distance?
It's the distance a user has run while using Energy.
Is there a referral program to earn GRI?
Yes, the Gritti ecosystem rewards both the inviter and invitee upon successful registration as well as the purchase of NFTs.
History of Gritti
1st July 2022 - Gritti launches its official website with its lite paper containing information regarding the GRI token and its utility in rewarding a healthy lifestyle via its move-to-earn model and NFT-inspired running.
15th July 2022 -Gritti launches its official Telegram group for users to engage in and form a community to encourage running and earning GRI tokens. It then announces its Discord group on 19th July 2022. Users connect with runners with similar goals, locations, and interests.
22nd November 2022 - Gritti introduces the Stake run activity for users to win GRI rewards and compete against others for greater rewards.
30th December 2022 - It hosted a New Year's Referral reward event with a total prize pool of 1000%. Gritti thanked everyone who participated in the referral reward event on 4th January. Gritti was impressed with the community's enthusiasm as they depleted the $10,000 prize pool and added more on 6th January 2023.
31st December 2022 - Gritti completed sales of the Genesis Sneakers, and 2649 pairs were minted using the GRI token. 3000 Genesis Sneakers were reserved for marketing, and the rest burned in a burning ceremony.