Photo Creds: Cudis.
The *crypto* Wellness Ring That Pays You To Wear It
“Artificial Intelligence, Blockchain Technology, Smart Wearables.”
We just summed up every buzzword in tech that you’ve heard over the past four years into one sentence. While we briefly mentioned this company in last week’s newsletter, we’d be doing you an injustice if we didn’t dive deeper into the ring that allows you to make up to $5,000/year by just wearing it.
Move Aside OURA Ring
Enter CUDIS - a first of its kind, 3g titanium, AI smart ring that rewards users on their wellness journey. As light as a paperclip, a user is able to track performance from 30+ sports activities, sleep patterns, stress levels, blood oxygen levels, HRV, and other basic biometrics data. Based on all these biomarkers, users can take advantage of the ring’s connection to OpenAI’s ChatGPT API and get hyper-personalized feedback from AI fitness coaches.
How Crypto is Involved:
Great, this seems like every other smart gadget.
What’s different?
With each piece of bio data captured, it is recorded permanently on a blockchain digital ledger that can’t be altered.
Specifically, the data is backed on the Solana network and every time your data moves or changes, you’ll have a tamper-proof record book. It uses IPFS (InterPlanetary File System) storage meaning that data is not saved in one central location, but rather copies of valuable data is spread across multiple high-security vaults.
So…how can you make money?
Through data ownership.
Users can now own 100% of their health data and can sell / share health insights on their own conditions. Through a gamified experience, users can earn daily rewards for tracking performance and doing specific physical feats. CUDIS also establishes a two-sided marketplace by bridging users with a network of trusted KYC partners that will purchase user’s anonymized data for industries like:
AI Model Fine Tuning
Insurance
Medicine
Wellness Researchers & Lifestyle Innovators
Will it work?
Wearable technology market hit $70B in 2024 with a 17% CAGR
2024 saw the highest global crypto adoption in history, surpassing 2021’s Bull Run
We’ve never been one for rings, but for this one, we’ll make an exception.
Sports-Tech Market Activity: Investors & Deals
Venture Capital
Scrum Ventures announces closing of a new sports & entertainment tech-focused fund (Jan. 8th)
$68M ‘Scrum Sports & Entertainment Fund I’ that began fundraising early 2022
Portfolio boasts 16 companies, including Fever, TMRW Sports, and Volo Sports
Backed by major Japanese corporations, including SBI Group, Oriental Land Innovations, and MUFG among others [VCJournal]
Grand Games, the gaming studio known for ‘Magic Sort’ and ‘Car Match’, raised $30M in Series A funding (Jan. 9th)
Scaling global operations, entering US market, releasing flagship title in 2025, and expanding team from of 14 to over 40 employees this year
Developer of the two successful mobile games (under 10 months), generating over $4M in monthly gross in-app revenue (under 3 months)
Led by Balderton Capital; additional investors include Bek Ventures, and Laton Ventures among others [FinSMEs]
Infinite Reality, an immersive tech company that creates digital experiences through spatial computing, secured $3B in funding at a $12.25B valuation (Jan. 8th)
Plans to enhance its no-code ‘iR Studio’ platform, expanding its operations in Fort Lauderdale, Florida [VentureBeat]
M&A and Investments
Ackerley Sports Group pursues new bid for South Africa’s Springboks rugby team (Jan. 6th)
Launching renewed effort for 20% acquisition in commercial rights arm after its previous $75M bid failure was rejected by the group’s member unions
Revised offer includes commitment to ensure 50% South African participation, working with ‘approved South African consortium' to revive the deal [SBJ]
JPMorgan reportedly ‘in talks’ with investors to support Everton FC stadium financing (Jan. 8th)
Raising over $376M in debt for refinancing of Everton's ‘River Mersey stadium’
Lending $162M to the Friedkin Group, who recently acquired Everton from Farhad Moshiri, late 2024 [SBJ]
Northleaf Capital, Altor Equity join hockey equipment company CCM Hockey’s roster of co-owners (Jan. 9th)
Both PE firms said to have paid $600M in total enterprise value
Northleaf previously held ‘indirect stake’ through funds managed by Birch Hill
Aiming to expand CCM’s market share, targeting growing women’s hockey sector, currently at 10% of global players [SBJ]
Sportsbank eyes £230M deal to invest in John Textor’s Eagle Football multi-club empire (Jan. 9th)
Led by Crystal Palace supporter Zechariah Janjua, firm enters exclusive negotiations separate from Textor’s ongoing talks to sell 45% stake in Crystal Palace to US-Saudi group [SportsPro]
Strategic Ventures
Saudi Arabia’s PIF, Endeavor’s TKO close to launching new boxing league for up-and-coming boxers (Jan. 9th)
PIF-owned events company, Sela, will be the main financier; TKO will receive an equity stake and earn close to $30M in management fees per year
UFC president Dana White will be the league’s managing partner [SportsPro]
Lotte Group, a South Korean conglomerate, taps Arbitrum blockchain for its Web3-driven 3D entertainment platform, ‘Lotte Caliverse’ (Jan. 7th)
Featuring a range of brands including Givenchy, MCM, L’Occitane, and 7-Eleven, offering users an AI-driven metaverse experience
Users can shop at virtual stores, attend concerts, participate in games, and more
Powered by Epic Games’ Unreal Engine 5, includes advanced tech such as 3D visuals without glasses and real-time 3D Chroma Key AI for immersive gameplay [VentureBeat]
Orlando Magic to launch inaugural venture challenge for startups in sports, fan engagement, and health & wellness (Jan. 6th)
Orlando Magic Venture Challenge on March 26 at the Kia Center
Five to six startups competing for funding ranging from $50,000 to $200,000
DeVos family, LEAD Venture Corporation providing a prize pool of $750K alongside commercial partnerships with the Orlando Magic [SBJ]
NBA Partners with biomechanics firms to advance player health through league-wide program (Jan. 9th)
Involving companies Qualisys, Theia Markerless, Bertec, and BreakAway Data
Four pilot teams: Cavaliers, Jazz, Pacers, and Suns to lead the implementation of new biomechanics labs, expected in all facilities by 2026 [SBJ]
Trail Blazers partner with accessibility tech startup OneCourt to enhance experiences for visually impaired fans (Jan. 8th)
Launching accessibility devices at the Moda Center for entire 2025 season
Devices feature haptic tech, silicone surfaces, and audio features to allow low-vision and blind fans to engage with live games
Recently raised $475K in Pre-Seed funding, led by Oregon Sports Angels [SBJ]
Cosm, a shared reality company partners with WWE to bring immersive wrestling experiences to venues (Jan. 9th)
Airing WWE Premium live events like Royal Rumble and Elimination Chamber in its 87-foot diameter LED domes in L.A. and Dallas
Following collaborations with major sports and entertainment organizations, including the NBA, NFL, and UFC [SBJ]
Bet Caddy, a sportsbook syncing startup partners with Profound Sports and Studio Init to enhance live sports engagement platform (Jan. 9th)
Studio Init to lead the design and development of the app, Profound Sports to offer its network of leagues, athletes, and relationships in sports & entertainment
Platform expected to launch during March Madness 2025, with plans to expand to other major sports events like the NBA Playoffs, MLB Opening Day, and others [PR Newswire]