HEAR IT FIRST WITH OUR DAILY NEWSLETTER



We don't spam. Learn more about our Privacy Policy

Special Report: It’s been a little over a year since ‘The Biggest Fight in Combat Sports History’ when Floyd Mayweather beat Conor McGregor by technical knockout.

But now the pair has drawn without throwing a punch.

Both have secured the right to use MyFiziq’s powerful body measurement technology to make their mobile fitness apps a TKO.

The Perth-based tech player (ASX:MYQ) announced yesterday that its technology will be integrated into McGregorFAST, an app that brings Conor McGregor’s training, nutrition and fighting techniques to millions of fans and UFC enthusiasts.

The deal comes via a strategic partnership with digital fitness solutions company FitLab – MyFiziq’s third strategic partnership in North America to date.

McGregor’s 41.5 million social media followers will now have access to MyFiziq’s body measurement technology.

Under its standard pricing model, MyFiziq will charge brands US$1.50 per user per month for up to 999,000 users, US$1.00 per user per month for 1,000,000 – 2,999,000 users and US$0.80 per user per month for 3,000,000 users and above.

And it needs only a small uptake by those followers to throw a strong punch. MyFiziq’s initial target is 250,000 users.

At this target, the deal is worth up to US$375,000 in revenue a month, more than covering the company’s monthly costs and delivering firm profit.

When coupled with its newly-launched corporate wellness solution for Prudential and a similar app integration with Floyd Mayweather soon to follow, MyFiziq now has a robust platform to continue its build out the additional verticals it has engaged.

Ready to attack 

MyFiziq’s patented deep-learning and complex AI algorithms are capable of reading body measurements with 97 per cent accuracy, or higher, making it the perfect addition to apps that offer top training and nutritional information.

“The new McGregorFAST mobile app will have a number of differentiators that will make it a world first, and MyFiziq will be an important part of that,” said FitLab director Mike Melby.

“We will be releasing the initial mobile offering to the world before the end of 2018, and we are pumped to integrate MyFiziq as part of the ecosystem that powers the McGregor FAST user experience.”

Concept integration screens

The technology is already being integrated into Floyd Mayweather’s app Mayweather Boxing and Fitness and positioning MyFiziq to maximise opportunities in one of the world’s fastest growing sports.

MyFiziq CEO Vlado Bosanac, says “the agreement is another exciting milestone in our move to monetise the technology.”

“When Conor takes to social media to promote himself, he is a force to be reckoned with. In last year’s event against Floyd Mayweather, McGregor had in excess of 400m interactions on his Twitter feed alone.”

“This is another great alignment for our technology, and we are very excited to have the opportunity to work with this iconic athlete.”

How the MyFiziq experience works

MyFiziq makes it possible to obtain accurate body measurements in just a few minutes, using proprietary smartphone-based technology.

A users entering their height, weight and gender is enough to get started.

“Our technology is unique and we are yet to see anyone challenge our process or capabilities from a mobile device,” Bosanac says.

“There are many companies out there creating hardware to try and enter this business arena. This means a user will need to buy a costly additional device which is inconvenient and unnecessary when you already have a mobile phone at your convenience.”

Digital health plays have been a big trend in the past few years, with names like Amazon and Facebook both paying big bucks for mobile health technologies. In 2015, sports apparel maker Under Armour paid $475 million for nutrition-tracker app My FitnessPal and its circa 80 million registered users.

MyFiziq hopes to replicate that success. It has its sights on a number of international markets with sizeable user bases, including the US and China and has already secured patents in the US, Australia, Singapore and South Korea with patents pending in Europe, China, Japan as well as the UK.

“We have created a seamless and easy to use application that delivers the users dimension from the palm of their hand. We are very proud of what we have built and we are seeing the spoils of our hard work when attracting iconic names such as McGregor and MayWeather This excitement is being share by global brands when we demonstrate our capabilities,”says Bosanac.

 

MyFiziq is a Stockhead advertiser. 

This advice has been prepared without taking into account your objectives, financial situation or needs. You should, therefore, consider the appropriateness of the advice, in light of your own objectives, financial situation or needs, before acting on the advice. If this advice relates to the acquisition, or possible acquisition, of a particular financial product, the recipient should obtain a disclosure document, a Product Disclosure Statement or an offer document (PDS) relating to the product and consider the PDS before making any decision about whether to acquire the product.