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In this episode of Edge of NFT, Kobe Tang, Chief Strategy Officer at Well3, discusses how the company is revolutionizing personal health through its innovative wellness-to-earn model that integrates AI and blockchain technology. He highlights the importance of community support in wellness and shares insights on gamification strategies that encourage healthy behaviors while bridging the gap between Web2 and Web3.
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Key Topics Covered:
- Wellness-to-Earn Model: Well3 is transforming personal health by integrating AI and blockchain to create a wellness-to-earn model that rewards users for healthy behaviors.
- Community Engagement: The importance of building a supportive community is emphasized, with members actively helping each other and sharing wellness tips, fostering a collaborative environment.
- AI Integration: Well3 utilizes AI to provide personalized wellness recommendations and manage health data securely, aiming to enhance user experience while promoting healthier lifestyles.
What was your favorite quote or lesson from this episode? Please let us know in the comments on YouTube. https://www.youtube.com/@edgeofnft/
Episode Highlights:
- "Well3 is empowering individuals to take control of their health data and earn rewards for healthy behaviors." –Kobe Tang [Timestamp: 00:01:44]
- "We want them to kind of have the information and then basically, you know, keep their life going on forward." –Kobe Tang [Timestamp: 00:12:28]
- "Our vision of becoming a global leader in wellness technology is just a, you know, something that we're super bullish about and super looking forward to." " –Kobe Tang [Timestamp: 00:27:34]
For the full transcript, see further below.
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About Our Guest:
- Bio: Kobe Tang is the Chief Strategy Officer at Well3, a company focused on merging wellness with Web3 technologies. He began his journey in the blockchain space in 2021, initially through connections in venture capital and various Web3 projects, particularly in the gaming sector. With roots in Hong Kong and currently based in Vancouver, Kobe's background includes significant experience in incubating and investing in Web3 companies.
- Website: Well3
- Twitter: @well3official
- Instagram: @thewell3official
- LinkedIn: Kobe Tang
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Full Episode Transcript:
Kobe: Hey there, it's Kobe Tang from Well3. We're using tech to give tech-loving humans a wellness boost. Think AI-powered health plans and earning rewards for staying active. And you're listening to Edge of NFT, the show boosting your love of technology that you can enjoy while at the gym or on a walk. Let's dive in.
Josh Kriger: Hey, wellness enthusiasts, stay tuned for today's episode to learn how Well3 is transforming personal health with its innovative wellness-to-earn model. And discover how Well3 integrates AI and blockchain to personalize your health journey. Finally, how do you create and maintain a solid community for a project that transverses Web 2 and Web 3? Find out this and more at the edge of Well3. Cue the intro.
Intro: Welcome to the Edge of NFT, the podcast that brings you the top 1% of Web3 today and what will stand the test of time. We explore the nuts and bolts of the business side and also the human element of how Web3 is changing the way we interact with the things we love. This podcast is for the dreamers, disruptors, and doers who are pumped about this ecosystem and driving where it goes next.
Richard Carthon: Welcome to the Edge of NFT, the podcast created by Jeff Kelly, Ethan Ginni, and Josh Krieger, featuring a variety of top-notch guests and other hosts like myself, Richard Carthon. Today's sponsored episode as part of our Korea Blockchain Week Roadshow features Kobe Teng, who is the Chief Strategy Officer at Well3, who is pioneering the intersection of wellness and Web3. With a background in venture capital and Web3, he joined Well3 in 2023 to revolutionize personal well-being. Well3 is empowering individuals to take control of their health data and earn rewards for healthy behaviors. Offering move-to-earn, sleep-to-earn, AI-driven wellness plans, and token-gated community access, Well3 is redefining wellness in the digital age. Kobe, welcome to the show.
Kobe: Hey, everybody. Thanks for having me. Excited to be here.
Josh Kriger: Excited to be here. Yeah, it's good to have you on the show, Kobe. And Rich and I, we're really excited to learn more about what Well3 is offering up to the world. And I know we were talking about our own
wellness habits, what we do day to day. I think it's so important to sort of take a breath and remember all this technology is amazing, but so is touching the grass, right?
Kobe: Yeah, touching grass. That's the first thing you should do at the start of the day. Get some one of those cat grasses, right beside your bed.
Richard Carthon: Yeah, that's awesome. Well, Kobe, um, I want to start off, uh, like Josh said, we're both, uh, wellness guys. Uh, when we go traveling, we try to make sure we get our workouts in and try to have some time for, for mindfulness. And, uh, before we get into the topic, I just want to learn a little bit more about you better. And how did you get into not just wellness, but also, uh, the blockchain space and then finding a way to combine the two.
Kobe: Yeah, for sure. So yeah, my name is Kobe. I'm happy to be here as the Chief Strategy Officer of Well3. And my journey in Web3 and crypto kind of began over three years ago in 2021. And, prior to that, I was kind of familiar with it, but I never put too much time and thought into it. But I was actually kind of brought in through just people I work with and my boss and our founders, and he was heavily invested in different crypto projects. So he kind of tagged me in. And over the last three years, I've been part of a number of different VC firms and Web3 Venture Studios, just focusing on incubating, investing in different Web3 companies, mostly in the Gamify section, Web3 gaming. And, I first crossed paths with the Well3 team in Cairns in late 2023. They're all based in Hong Kong. I'm in Vancouver, but I go back and forth. And my background is actually, I was born in Hong Kong as well. So there was kind of some of that. familiarity with the team and kind of the way that they work. So, once I learned about the scale of their vision and their commitment to wellness and as well as the vibrancy of the community, I was immediately hooked. So, by December of 2023, I had the privilege of joining this team and, it was a decision that was quite easy for me, the potential of impact on Well3 essentially resonates deeply with my own personal aspirations, professional aspirations within crypto and Web3. But also, it's something that both on the wellness on both physical and mental level that I kind of want to be able to kind of be a part of as well. I myself have been someone that's been fairly into wellness ever since I was a young kid. So, I'm someone that goes to the gym every day, or I try to. And, not just physically, but also mentally doing things that make me feel a little bit better about my day or feel helps me kind of get through tough, challenging times, all that kind of stuff. So I think there's a gap in wellness in web three. And that's kind of where we think that we can kind of tap in and really make that difference and kind of become a leader in that space.
Josh Kriger: So does your maintenance list include cold plunges?
Kobe: I've been thinking about it. I mean, there's been times where I'll take a really cold shower, but I haven't done the cold plunge yet. I think anytime I go to a Nordic spa or something like that, I typically try to do at least one plunge. But I think in the future, maybe you get one of those cold plunge tubs.
Josh Kriger: I mean, it gets pretty chilly in Vancouver in the winter, so you could just, go outside and i could jump in the water but yeah i i've been i've been trying to bring this into my routine i actually had daniel who was you know CEO of yuga on the show and he he he decided after the the show that he was going to give it a shot it's it's a lot of fun i did one this weekend but but there was one point recently where i did one that was much colder than my usual routine and i was literally like Levitating for like eight hours where like I was like there could have been a car accident or a gunshot And I don't think I would have reacted. It was pretty crazy I gotta try that So speaking of sort of reacting to the world around us, one thing that I was particularly curious about is how do you think Web3 is doing as a community, as a tribe, as a sort of industry, sort of evolving its approach to wellness and healthy habits? I know we did a wellness activation at Outer Edge this past year, and I've seen more of that at events. But pound for pound, do you think we're evolved in the right way towards giving wellness the attention it deserves?
Kobe: I think we're definitely taking the right steps. I think we've been seeing more and more projects getting into this space. And we all know, a number of pretty strong projects in the past that came and went as well. But, I think Web3 encrypted technologies represent a significant evolution of how health and wellness services are delivered and experienced. And I think blockchain does a great job, creating decentralized applications that could kind of cater to these healthier lifestyles and promote them. Right. And I think also the opportunity to tokenize incentives for these healthier lifestyles allows people that are familiar with this space that, Typically try to, yeah, I wouldn't say expect, but like. That kind of incentive kind of drives the community a lot of the time and, uh, I think. There's different methods of how, uh, these health and wellness projects kind of do this, but, I think well, this or well, 3 is, is, is something that kind of taps into all these different strategies and such, but. I think we're in a pretty fast-paced world of Web3, so I think a lot of times wellness gets kind of left behind a bit, with all these new exciting technologies, trading, speculative investments, all that kind of stuff. This all can lead to generally overlooking health and wellness, especially when something dumps quite hard and you're left, just looking at your screen for hours at a time. So, I think for us, we kind of wanted to help these individuals or get into the space so that people are aware of what we can do and that people could take a break and they could recognize that what we're doing is here to kind of give them that break. So, with that said, aside from just the Web3 space, if you look at the wellness market on a global scale, we're kind of sitting on a $5.6 trillion global wellness market. And if you look at it year to year, it's looking to expand about 5 to 10% annually. So, the wellness market is increasing quite a lot and I think Web3 is slowly following that trend. So yeah, I think it's a little behind, but we're definitely catching up. And through my different conversations at conferences, different events in Europe, Asia, North America, it's clear that based on these conversations that people do see this gap and they are very welcome to projects like ourselves, putting that focus back on health and wellness. So, at the same time, trying to keep the fundamentals of both spaces, right, blockchain as well as wellness, and combining the two together, making it kind of work.
Richard Carthon: Yeah, the more cohesive way. I like it. And there's definitely a lot of misconceptions around, how do you blend the two together? And there's a lot of research that shows there's a correlation between the more screen time that you use to potential mental health challenges. And you also look at the reality of most people who live in web three are spending a lot of time on their computers. They're also living in a virtual world where we talk conversations because crypto never sleeps like the market's always open there's always something to do a lot of us are on distributed teams where they live on the other side of the world and you know there's a lot of different elements of our lives between sleep patterns and when we decide to to get up and move and communicate and everything else so you know how is Well3 going and helping to make very clear that intersection between both wellness and technology and making it sustainable. One of the things that I talked about at the top of the hour was the concept of proof of sleep. So that sounded very interesting to me. So I'm curious about what other things that you have.
Kobe: Right. Yeah. And that's a great question. It's very evident that there is obviously a rise of screen time, particularly in younger generations. I think much more, school kids or teenagers, young adults getting into crypto and all that stuff. And I think I saw a study showing that, for students at least, they spend an average of seven hours per day on their screens. And that excludes the time spent on schoolwork on the screens as well. This increase of digital engagement will obviously cause poor sleep quality, eye strain, and basically the challenges that we face is that we're trying to harness technology in a way that promotes wellness rather than detracting from it, right? We don't want people to come into wealth through our user app or our devices and just spend all day just tracking it, right? We want them to kind of have the information and then basically, keep their life going on forward, right? So, for us, the key strategy for us is gamification, I think. But with a purpose beyond just mere entertainment, for example, we have something called a deepen, or I'm sure you guys know, a decentralized physical infrastructure network, as well as decentralized ID, which we call WellID. And we aim to leverage advanced wearables that integrate seamlessly into our ecosystem, and that allows our mobile app or rings or wearable devices to track and monitor health metrics in real time. And this technology just doesn't track activity, but also rewards our users with well tokens for engaging in these healthy behaviors, such as, those daily cycles, meditation sessions or, maintaining a consistent sleep pattern. So, we're incentivizing our own wellness ecosystem token to basically incentivize these users and community members too. just try to live a little healthier lifestyle. And moreover, our platform tries to go beyond just simple tracking by offering wellness solutions powered by AI. We have our co-founders, we'll get into it a bit later, but he's heavily invested in different AI projects. And, we're hoping that we could also create a kind of a wellness companion and so kind of tailor these recommendations for different types of individuals, whether it be physical wellness, mental wellness, all that kind of stuff. But so yeah, in summary, for us, the intersection between wellness and technology, both healthy and sustainably, we're going to need to design experience that integrate wellness to technology people already use, and provide personalized and actionable insights, as well as rewarding long term engagement, in which, a lot of web three individuals kind of expect from from projects like these.
Josh Kriger: Yeah, there's a lot, a lot to do, a lot of iterating, a lot of customizing to different types of audiences. But you guys have been in the trenches and you've had some success stories. I'm really curious what you've learned so far. What have been some of the more effective gamification projects that you've unleashed? And, are there any sort of success stories, anecdotes of individuals who have been impacted that you could share with us?
Kobe: Yeah, great question. And I guess we'll get into a little bit of the history of Well3. And for anybody here that's not familiar with us, that's probably because we didn't rebrand to Well3 until the beginning of this year. And prior to this, we were strictly just a NFT collection. But that Within Asia, so if you've heard of Yoga Pets, if you've heard of Cubs, Coons Genesis, these are all, these three collections coming out of Hong Kong have always been very successful, had a huge following behind it, and most recently Yoga Pets. Basically, Yoga Pets was kind of centered around wellness and yoga and meditation, right? And we decided that it made sense for us to kind of shift into something a little bit more impactful, which is like a wellness ecosystem rather than just an NFT, right? So that's kind of where we kind of learned a lot from these past three to four years. And since each drop of our campaign, we've always seen great success, and we've learned quite a lot from gamification. And I guess there's three key learnings that I've kind of come up with that I believe is great to mention. And I guess the first one, as I mentioned earlier, would be reward-driven engagement. And it's basically, Users expect. Quite a bit. I mean, I wouldn't say quite a bit, but it depends, especially in the NFT space, if you came from that side, they expect kind of that opportunity to earn rewards, right? So then that's something that we wanted to keep it going to cater to the NFT audience that we had in the past, but then also cater to the kind of wellness side as well. So for us, we launched our well-boosting mechanism, which allows users to earn points and multipliers by holding a stake in their tokens. The other two key learning aspects are personalization, right? Everybody's a little different. Everybody expects a little, different type of engagement as well as experience. So we're trying to customize health recommendations based on an individual's data and ability to earn specific rewards as well. And I think the third piece that everybody expects is community and competition, right? Social and competitive elements just play a huge role in driving engagement, keeping people coming back and engaged. So these look like challenges, leaderboards, community events where people can kind of compete and collaborate. And those are the three key learning gamification sites. As far as success stories, I'll be quick with this one. But our Yoga Pads NFT collection was a huge one. We launched that in August 2023, and we were able to raise an impressive 1700 Ethereduring that initial mint. And it was able to maintain a strong community involvement ever since then. And then the second milestone that I'm fairly proud of is our WealthRe public sale. That was in March 2024. where we actually raised over 15,000 Ethereum, which was approximately 55 million USD within just 24 hours. So that was a huge success driven by our community and the excitement of our platform. So that's another big one. So we hope that we could continue these success milestones and kind of align it with our wellness goals as well.
Josh Kriger: Yeah, those are very impressive achievements, especially in the more challenging market. It shows sort of a testament to the strength of your community, like you mentioned earlier in the show, and the strength of what you guys are focused on. Are there any particular community members that have sort of reached out and shared anecdotes about how being part of this community has improved their lives?
Kobe: Yeah, I definitely say so. I think we actually, ever since I kind of joined on, there's been a number of key community members that have tried to go above and beyond and actually, helping out other key members of the community, suggesting health and wellness kind of suggestions and advice as well. I think that's the big thing about our community is that I think going back to just crypto and communities within NFTs and such, I think there's a huge push and need for a strong community that are capable of helping each other. And I think that's kind of where that wellness space comes into, because I definitely think there's nothing better than finding That support and help from community members rather than just kind of leaving it to yourself to figure out yourself. Um. So, yeah, there's, there's definitely a number of members on our discord as well as Twitter that I regularly see, uh, supporting each other and kind of. not just supporting other team members, like community members, but also supporting our team, giving suggestions hey, why don't we do this? Why don't we do that? We definitely take in a lot of insight and valuable opinions. That's great.
Richard Carthon: Yeah, that's really awesome. And, having a community that can help each other and encourage each other goes back to wellness. It goes back to good, I mean, of course, the word community, but I think of like even teammates and just Sometimes having that extra encouragement around trying to achieve certain goals or trying to be more mindful about how you approach things is always really helpful. But one of the words you brought up was insight. And insights are very powerful in a lot of various ways. And one of the ways that you can get insight is through AI. So I know that you guys are actively using AI within Well3. So how are you utilizing it to consistently improve and learn to improve the processes that you have?
Kobe: Right. Yeah, totally. And I think AI is definitely going to help us a lot when it comes to managing data, managing security, all that kind of stuff, because wellness can tap into a lot of different types of data, right? it could be simple health tracking, sleep patterns, all that kind of stuff. But, we're looking at a future where, in the future, we could potentially see us track or allow the user to kind of keep their own clinic visits or doctor visits or all that kind of stuff. This information will be a little bit more sensitive and we're hoping to use AI to basically connect and for us to kind of control the data and security as well in a better and more positive way. And, for us, AI, as mentioned before, is the cornerstone of our strategy, right. And I mentioned earlier that one of our lead, one of our co-founders, he's a VC that's fortunately been able to be a key investor in several leading AI companies, including both AI, OpenAI, as well as Cohere. And we're hoping that these connections will not only give us the access to cutting edge AI technologies, but also allows us to kind of get the advice and, and, uh, strategy that, uh, will allow us to kind of, uh, use AI in the best possible way that we can. So, um, that could go towards our AI driven wellness companion. It could go towards security, data management, uh, all that kind of stuff. Uh, but yeah.
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Josh Kriger: very cool yeah I mean I've enjoyed using ai to improve my health. I asked for plexi ai the other day. I was like I want to do a 1,700 calorie diet with 150 grams of protein. I want to cook all my meals on the weekend. I like these ingredients. I don't like these ingredients. Come up with a 30-day meal plan. Five minutes later, I had exactly what I needed, and I could have hired a coach for that. It would have taken me a long time to figure all that out, and I had this really cool meal plan right in front of me.
Kobe: Yeah, more and more people are definitely opening up to AI. I just definitely think AI still has a ways to go for some individuals to kind of trust it and to rely on it a bit more. But also at the same time, you have to be worried that you don't get too reliant on AI. But it depends on who you are. I'm okay with AI.
Josh Kriger: Yeah, well, totally. I've kind of, I've embraced the light side and the dark side of AI at this point, I'm pretty much all in there and just, cautiously optimistic. But, there is an IRL component of what you guys are doing. You have, you're going to be doing some cool stuff at Create Blockchain Week and We talked about some of the other stuff you guys have done in the past. So that's exciting. What else is sort of on the roadmap in terms of partnerships that we haven't covered yet that folks should know about Well3 in terms of wanting to get involved and plug in?
Kobe: Yeah, we definitely have ambitious plans for the future. Myself, as well as a number of other individuals, go to a number of different conferences year-round just to kind of meet with key players, both in Web 2 and Web 3. And I'd say three of the main spaces that we could kind of focus our partnerships on and the roadmap is on is the first one being strategic alliances in wellness and technology. So we're actively expanding our network of partnerships to include top tier companies in wellness, fitness and technology sectors. So we're in discussions with several leading health tech companies to possibly integrate their own wearable devices within our deep end as well in the future. So this will allow for seamless sync of their health data into the Well3 platform. Another one is obviously collaboration with global brands. So aside from wellness technology companies, we're hoping to kind of get into recognized brands and lifestyle and wellness industries. So, I think the challenge obviously is kind of getting. companies in Web 2 to kind of shift and kind of open up their eyes towards Web 3, right? And that's kind of one of the focuses for us. And we're hoping to use, the sheer size of Web 3, our community size, what we've done in the past, our currency, our utility token, all that kind of stuff to kind of really push for, hey, we have all this, this is where the future is going. This is where you guys are doing great here. But, what if we kind of Combined forces and kind of see what we could do here. And that's kind of what we did with it. Samsung, right? Like we had a partnership agreement with Samsung prior to our token launch, and that's something that the community was really for. I think seeing a big player like Samsung, kind of coming into the Web3 space in this capacity and their openness to it should really show that Web2 brands are kind of slowly making that step within this space. And then, as far as the Web3 and blockchain partnerships, I think we're always trying to strengthen ties within major players in this space. we're working with our investors and our leads at Animoca Brands, Spartan Groups, and, these partnerships will hope to enhance both technological capabilities as well as open up new avenues for potential partnerships with projects that they know and such. We're trying to kind of mix both Web 2 and Web 3. The goal for us is to really push out all these announcements and partnerships in the next little while. I think obviously we'll be at KBW, we'll be at Token, and I think by Token we'll have some stuff to really showcase at that point. And that's something that people could really look forward to. That's obviously less than a month. So we're super excited to kind of share those. So yeah, I think in the long term, our vision of becoming a global leader in wellness technology is just a, something that we're super bullish about and super looking forward to.
Josh Kriger: I love it, man. Well, you have Richard and I hooked and curious about everything going on in your space. This is near and dear to our hearts and our mission. So, I really appreciate you partnering with us on the show and appreciate the opportunity to learn more about Well3 and we'll keep digging and I'm sure there'll be more adventures from here. In the meantime, Where can our listeners go to learn more about you guys and go down the wellness rabbit hole?
Kobe: Yeah, I think, I guess, definitely follow us on all the social media platforms, Twitter, Discord. We're going to be opening up our Telegram channel very soon as well. But Twitter and Discord at the moment are the best places to kind of see your updates. On Discord, we do provide full weekly updates and announcements on that page. Just kind of say, hey, this is where we are on development. This is where we are farming airdrops. This is where we are on this. So all the information is there. And that's kind of also the opportunity to kind of communicate with other community members as well. And you could also read a bit more about our roadmap as well as our project at Well. .eco.com or well3.com as well. But yeah, and also give me a follow. My name on Twitter is kobe beef, B-E-E-F-3. It's kind of like a Kobe Beef reference, Kobe Web 3, combining those two together. It's just a funny thing.
Josh Kriger: But yeah, you don't have whether or not you're on the pro red meat or anti red meat sort of side of the house. You can still follow me in this context.
Kobe: Yeah. Yeah. So yeah, just kind of stay connected with me. Stay connected with the team. We have lots of updates coming soon. And yeah, we're excited to kind of share them with all you guys. That's awesome.
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Josh Kriger: Well, we've reached the outer limit at the edge of NFT for today. Thanks for exploring with us. We've got space for more adventures on the Starship. So invite your friends, recruit some cool strangers. They'll make this journey much better. How, if you're listening, go to Spotify or iTunes right now, rate us and say something awesome. If you're watching this on YouTube, join over 135,000 other followers by hitting the subscribe button. pass this episode on to a friend or two. You can also catch us on michael.io, that's M-Y-C-O dot I-O, where you can watch and earn for your time and attention. Lastly, be sure to tune in next time for more great Web3 content. Thanks again for sharing this time with us today.
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