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Healthcare in Metaverse: What Is MedV Token?

In a 2021 report, the World Economic Forum declared, “the introduction of digital services will be one of the most important factors in the transformation of healthcare over the next decade.” The MedV token represents a groundbreaking advance in this technological revolution of healthcare. Enabling a decentralized alternative to the current medical industry, the asset connects patients and providers, provides incentives, and builds a community to improve fitness, health, and well-being.

The MedV token may be traded for services and products in the MDDAO community, a new digital collective of patients, medical professionals, fitness experts, and wellness practitioners. As the world’s first healthcare metaverse, MDDAO’s platform, MyMedV, is poised to corner the market in the healthcare industry of tomorrow.

All too often, healthcare in the United States and other parts of the world results in inequitable outcomes. Those who have deep pockets can afford high-quality health insurance that provides access to the best care, while those who have less are forced to take on more risk. Large institutions and bureaucracies manage care in a reactive manner, resulting in inefficiency and subpar outcomes for patients.

The metaverse promises solutions to address these problems. Innovative new technology offers hope for a more equitable future, as diverse grassroots communities like MDDAO guide their development and implementation. Eschewing government intervention and control, assets like the MedV token return power to the people.

In a conversation with Mark Fidelman, founder of SmartBlocks and host of the Cryptonized podcast, co-founder and CEO of MDDAO OG Arabian Prince further explained what the metaverse will look like.

“All the metaverse is is a digital twin of the real world,” Prince explained. “For example, you’ve got Cedars-Sinai hospital in the real world, there will be a portion of Cedars-Sinai hospital in the metaverse that people can plug into and interact without actually going to the hospital. We’re creating a conduit to give people easier access to the services that they already have and open doors to new opportunities.”

Through the MedV token, MDDAO rewards patients for engaging in positive behaviors that have been shown to improve health outcomes. For instance, people can earn benefits by going to annual physicals, adhering to their doctors’ advice, practicing mindfulness, exercising, seeking counseling for mental health, learning about nutrition, and following a healthy diet. They can even acquire tokens for engaging with other users or with the platform itself. In short, healthy choices and engagement will be rewarded.

Nicholas Donarski, CTO of ORE Systems and CTO of MDDAO, says they’ll be using a combination of partnerships with IOT devices, and fitness trackers, and building a central location for a lot of these devices to be able to plug into will help in incentivizing patients to live healthier lifestyles.

“Bringing in the partnerships allows us to help incentivize users through the use of the MedV token, through the use of NFTs as prizes and giveaways,” Donarski says. “It’s changing the way that people incentivize, not only being healthy but using those technologies to help grow the community.”

In this way, healthcare consumers can take advantage of a new kind of economic opportunity, building wealth by taking care of themselves and helping nurture the MDDAO community. And unlike interacting with conventional, institutionalized medicine, the experience will be fun.

This gamification motivates patients to educate themselves and take a preventive approach to their own health and wellness. The resulting proactive, healthy behavior can be anticipated to forestall high-cost reactive care later in life.

To ensure the inclusion of people from traditionally underserved communities, a portion of the MDDAO memberships will be given away for free to qualifying individuals. The venture’s founders have also retained experts to advise on best practices.

Polygon Blockchain (formerly known as MATIC), a blockchain scalability platform that compensates for Ethereum’s weaknesses, will power the MedV token, thereby ensuring its security. The initial release will be made up of 7.9 billion tokens, signifying the world’s projected population in 2023. As an ERC20 Dividend Deflationary Self-Funding LP Utility token, two to three percent of each transaction will be burned to ensure the asset’s growth in value over time.

Many organizations already accept the MedV token for payment, such as RiiiD Medical, Kairos University, Nouslogic Telehealth, 247 Health Club, Advanced Wearables LLC, Physicians CBD Council, TongueOutShop.com, and BizAndGive.com. As the MDDAO community expands and number of use cases for the MedV token increases, the asset is also expected to gain potential monetary applications in the real world, as well as in the metaverse.

By making health and wellness more like a game, the MDDAO metaverse can take the self-serving games out of the current healthcare industry and genuinely improve patient care.

Healthcare in Metaverse: What Is MedV Token?

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