Need more motivation for your fitness routine? NBA team Dallas Mavericks and their owner, Mark Cuban, are partnering with Lympo to launch “the nation’s first” fitness app powered by blockchain, reports SportTechie.
According to Lympo’s founders, Mark Cuban and Lympo CEO Patrick Brown, they are rolling out the first app that offers cryptocurrency tokens as rewards with real monetary value to those who complete exercise challenges.
While the LYM token is Ethereum-based and therefore subject to market fluctuations, it is not a cryptocurrency that can be exchanged for fiat currency, per SportTechie. Instead, LYM token exchanges are restricted to sports and fitness goods for sale in the in-app Lympo Shop. Lympo anticipates that the marketplace will expand to include “personal training sessions, gym memberships, diet and exercise plans, or trendy workout accessories.”
“Lympo is a seamless tool for motivating people to become healthy and adopt an active lifestyle. By improving the well-being of people around the world and providing tangible incentives through our unique technology, we aim to unite fitness and wellness communities everywhere.”
The founders heralded the app as a “revolutionary new concept in wellness and personal technology” in a joint statement.
“Lympo is a seamless tool for motivating people to become healthy and adopt an active lifestyle,” Brown added. “By improving the well-being of people around the world and providing tangible incentives through our unique technology, we aim to unite fitness and wellness communities everywhere.”
Plans for the product include integrating data from fitness and health trackers for personalized feedback and allowing users to earn tokens in exchange for their personal health and fitness information.
In addition to Lympo, partners such as coaches, wellness brands, influencers and various health, sports and fitness associations are issuing fitness challenges to users on the app. Users can decide which challenges to accept and upon completing the challenge, they receive a predetermined amount of tokens in their in-app wallets.
“Lympo is all about making positive changes by taking small steps towards a more active lifestyle,” Cuban said. “Lympo doesn’t require you to drastically change your daily habits, but it’s a great incentive to gain real rewards, like Mavs tickets and gear, for fitness efforts.”
