Introducing Compass: Earn Rewards For Improving Mental Fitness
https://pitch.com/v/Pre-Seed-Deck-t2vsw6
Compass is a Web3 mental health platform that provides tokenized rewards for improving mental fitness.
Our mission is to leverage the power of web3 to create a zero-barrier to entry point for quality mental healthcare. We’re building a “engage-to-earn” blockchain based platform that nudges users towards practicing daily mental health routine and provides crypto tokens ($COMPS) as rewards. Tokens can be used to access therapy services from our provider network, deposited into a crypto IRA account, and spent in our affiliate marketplace.
Over the long-term, Compass plans to integrate health data into smart contracts for users to generate royalties based on health data ownership and scale into B2B by deploying self-service tooling for people leaders and managers to reward employees for holistic wellness.
Compass’s revenue model is built around transaction fees as our core revenue driver along with B2B partnerships and a take rate on the overall token volume. To model this out, we used a true bottoms up market sizing (HERE) to project $0.6M in revenue in 2023 and $1.4M revenue in 2024.
We believe the most compelling use cases of blockchain technology are still being created and we’re in the early innings of the “x-to-earn” economy. Compass is becoming a leading brand at the intersections of mental health, web3, and digital community and serves as a top-of-funnel, horizontal platform designed to integrate into downstream, clinical solutions.
Our team and advisors include previous operators at the NFL, Microsoft, Noom, Calm, MoonPay, and Coinbase, along with clinical leads from Pace, the University of Kentucky, Future, and IMG Academy - all working to leverage the power of web3 to nudge people along mental health journeys through gamification.
Despite the number of solutions that exist, mental health is still a BIG problem. A severe shortage of licensed therapists have increased barriers to tele-therapy and created massive ripple effects, especially for Gen Z.
Of all the shortages caused by the pandemic, the therapist shortage is among the most troubling. The amount of demand for mental health services so exceeds available supply that individuals seeking help must wait an average of 6-8 weeks before securing an appointment.