Peloton is leveraging the metaverse to continue its expansion

Share on facebook
Share on twitter
Share on linkedin

Total Views: 46

Peloton stock began a dramatic collapse after reaching an all-time high in January 2021, as the end of pandemic confinements led to a dip in interest in the fitness company’s offerings. Indeed, overproduction caused a glut of exercise equipment.

Following the announcement that it will temporarily suspend manufacture of new stationary cycles and treadmills a few weeks ago, the fitness brand’s shares plunged 24 percent, dropping it below its IPO price.

Even a 20% price decrease on Peloton cycles in August failed to spark the significant interest in the firm. That the pandemic had produced a year earlier.

Because of the brand’s precipitous downturn, activist investor Blackwells Capital has called for the resignation of Peloton founder John Foley. Furthermore, the business has proposed that Peloton be sold to a technological or fitness behemoth. Such as Apple, Disney, Sony, or Nike.

The screen in front of the stationary cycle and treadmill user is one of the secrets to Peloton’s success. In addition to presenting stats and coaching videos of runners and cyclists, the screens have a feature called Scenic Rides. Which digitally transports users to Hawaii, France, Australia, Italy, and other attractive locales.

The on-screen trip shortens and reduces the tension of long stationary bike workouts.

When the company first started, VR exercises were only available to a small group of early adopters. However, the success of Meta Quest 2 swiftly propelled VR into the mainstream. As did immersive exercise apps like Beat Saber, which Meta acquired in 2019. Meta reported in October that Beat Saber, a game that encourages users to interact with virtual objects to perform calisthenic exercises, made $100 million on the Quest platform.

So far, VirZoom has received only $12 million in investment money and has approximately 270,000 active users. Through a partnership or acquisition of the VR fitness firm, Peloton’s size, which presently has almost 5.9 million users, could swiftly bring a substantial new user base into the metaverse.

Source: https://metanews.com/peloton-is-leveraging-the-metaverse-to-continue-its-expansion/

Related Posts