As the blockchain industry expands into various sectors, it has started to complement the wellness and data industry, where users are able to leverage decentralized technology and take control over their personal health data. With global interest in health wearables on the rise, the connection between blockchain and personal health management is becoming a common focus. However, despite notable growth in wearables, a crucial gap remains: users often lack true ownership of their data and do not benefit from the rewards generated by their health activities. Seeking to address this issue is CUDIS, a portfolio company of Morningstar Ventures, which is pioneering efforts to redefine data ownership and user engagement in the wellness space.
CUDIS has developed an AI smart ring and health app designed to capture health data directly from users, facilitating daily tracking and management while empowering users to monetize and share their data responsibly. CUDIS distinguishes itself not only through its comprehensive data-tracking capabilities compared to competitors like Oura but also by introducing real-time incentives via its proprietary ring. This CUDIS ring, coupled with a personalized AI coach and app, provides users with tailored insights and motivational rewards. Apart from the ring, the CUDIS app is accessible to everyone, regardless of whether users own the ring, this ensures that anyone can benefit from a wide range of wellness data, allowing the app and data network to empower individuals to enhance their wellbeing.
This month’s review will explore CUDIS’ ring and app, the project’s growth trajectory, the team, and the integration of wearables with blockchain technology. The review will also analyze the project, assessing its strengths and potential challenges.
What is Cudis: Ring, App, and Partnerships
Since its official product launch in April 2024, CUDIS has made significant strides in the health and wellness industry, generating approximately $4 million in revenue and selling over 15,000 rings. The project has also built a robust community of 100,000 members spanning over 100 countries.
The CUDIS ring, developed by BeatBit Wellness Lab, is presented as a Web3 alternative to the popular Oura ring and Samsung ring, which have captivated the health and wellness market. Utilizing DePIN technology, the CUDIS ring enables users to monetize their anonymized health data, which are then reintegrated into the ecosystem to enhance personalized health insights.
The wellness data collected by CUDIS is encrypted and stored anonymously on the IPFS after being indexed on the Solana blockchain. This anonymized data drives the creation of customizable AI modules, which produce personalized insights into users’ mental and physical well-being.
CUDIS has built an ecosystem of products and services, including:
- Cudis Ring: An advanced smart ring that tracks vital health metrics and sports activities, providing users with personalized insights via an integrated AI coach.
- Cudis App: A free, accessible platform with social challenges and an AI coach, engaging users in fitness tracking without requiring ownership of a CUDIS ring.
- Cudis Data Network: A decentralized network that aggregates data from various wearables, ensuring user ownership and enabling secure data trading while disrupting traditional data-sharing models.
- $CUDIS Token: The governance token of the CUDIS ecosystem, managing wellness data, driving data transactions, incentivizing active participation, and ensuring equitable value distribution among all participants.
The CUDIS ring is the flagship product that enables users to track over 30 sports activities and monitor vital signs, including blood oxygen levels, heart rate variability (HRV), resting heart rate (RHR), temperature, sleep patterns, and stress indicators. With the integration of an AI coach through the CUDIS app, users receive actionable insights tailored to their wellness journey, making personal health management intimate and user-friendly.
Over a short period of time, the app has already garnered significant traction, reaching:
- 60K downloads
- 4m+ heartbeats tracked
- 300k workout sessions
- 1m+ health tips given from coaches to users
- 1b+ steps
Another feature key to the CUDIS ecosystem is the CUDIS Data Network, which integrates data from both the CUDIS smart ring and over 70 additional wearables. This network puts users in control of their digital health data, allowing for secure data trading that disrupts existing exploitative data practices. Users can thereby monetize their health data on their own terms, transforming personal insights into valuable assets. In fact, recently CUDIS launched its Data to Earn function, which allows users to own their health data with the CUDIS ring, but minting data into NFTs and earning points as users mint data.
Recent Launches and Partnerships
CUDIS has already forged some strong partnerships with UCLA Athletics, the Italian GT Championship, Padel and Fitness events, and Web3 companies World and Solana Mobile.
Recently, through CUDIS’ partnership with UCLA, they had in-game signage at a basketball game, showing the project is gaining a stronger presence outside of just the blockchain and Web3 space, and amongst mainstream audiences.
Team and Fundraising
CUDIS was founded by Edison Chen together with a dynamic team of entrepreneurs with previous experience from industry giants, including Google, Samsung, Microsoft, Binance, NextHealth, Nike, and Equinox. With roots in the crypto space dating back to 2016, this team has a history of successful ventures and exits, positioning them well to lead CUDIS in its mission to revolutionize health data ownership and engagement.
Since its inception, CUDIS has expanded its team to include a diverse group of professionals, all united by their passion for leveraging blockchain technology in the wellness industry.
Back in September 2024, CUDIS successfully raised $5 million in a funding round led by Draper Associates, with notable participation from Skybridge, Penrose, SNZ, Mozaik, NGC, Foresight Ventures, OGBC, Monke Ventures, DraperDragon, Block Patch, and Morningstar Ventures. The funding round also featured contributions from several prominent individual investors, including Sean Carey from Helium & Borderless, Kalin Stoyanchev of Render Network, Andrew Chatham from Dimo, Adam Jin of the Solana Foundation, and many others.
This recent infusion of capital aims at scaling operations, with ambitious plans to deliver over 1 million CUDIS rings within the next 18 months. The additional resources will support the project's expansion, enhance product development, and accelerate the establishment of a consumer-centric Web3 wellness ecosystem.
Analysis
Strengths:
- CUDIS stands out in the wearable technology arena as the first Web3-enabled ring, leveraging strategic partnerships with leading mobile hardware companies like Solana and World Chain App. This innovative positioning not only enhances its market presence but also aligns it with the growing demand for greater data ownership and privacy in the health sector. As consumers become increasingly aware of their health data's value, CUDIS capitalizes on this trend by offering an advanced solution that promotes user empowerment through personalized insights and rewards.
- Additionally, CUDIS has multiple avenues for growth, firstly, the app, which not only powers the CUDIS ring, but is available to everyone and not just ring holders, is a great opportunity for them to capture more market share as they can compete with other health apps.
- Finally, their collaborations with professional athletes and sponsorship opportunities elevate brand visibility across mainstream audiences.
Challenge:
- CUDIS could face some potential challenges in hardware development. The costs associated with producing cutting-edge technology can be substantial, and as demand increases, scalability and supply chain issues may also become critical obstacles. Moreover, educating potential users about the benefits of blockchain and the unique Web3 elements integrated into CUDIS products presents another hurdle. Many consumers are not well-versed in cryptocurrency concepts, and differentiating CUDIS from established competitors such as the Oura ring, Whoop, and the Apple Watch requires clear communication of how its blockchain foundation translates into tangible advantages.
What’s Next for Cudis
In the upcoming years, CUDIS intends to enhance its AI coaching and gamification features while advancing its decentralized infrastructure with open APIs, developer tools, and grants dedicated to health innovation. In the next 2 to 3 years, CUDIS aims to bring one million users to their platform, collaborating with partners across wellness and medical industries and supporting AI and DeSci projects to turn health-related innovations into practical solutions.
Additionally, with the rise of AI and its reliance on robust data, the team aims to inspire people to recognize the value of their health data, prioritize their well-being, reduce healthcare costs, lower stress levels, and enhance overall quality of life.
Learn more about Cudis
🌐 Official website: cudis.xyz
🐦 Official Twitter: x.com/CudisWellness
🕹️ Discord channel: discord.com/invite/cudis
✍️ Blog: medium.com/@CudisWellness
App IOS: apps.apple.com/us/app/cudis/id6479181363
App Android: play.google.com/store/apps/details?id=io.beatbit.cudis
