I'm excited that app developers are starting to use blockchain technology. My first experience with an app like this is the Sweatcoin app, where you can earn Sweatcoins simply by walking outside. They have a pretty slick user interface (as you can see, I haven't left the house yet today). I thought this would be a great opportunity to have some extra motivation to stick to my New Year's resolutions.
However, this is my problem with Sweatcoin...it's not a real cryptocurrency and isn't traded on exchanges. You can buy items in their store:
However, I quickly found that the items have little value. For example, the tea offer looks great at first glance, I love tea! But it actually turns out to be a tea subscription box for $10/month and if you redeem 30 Sweatcoins, they give you $5 off your first box. Lame.
I was excited to hear of a new app called CryptoHunt which appears to be similar to Pokemon Go in that you walk around with your phone in an augmented reality environment and can collect cryptocurrency prizes. Here is one of CryptoHunt's videos:
What makes me excited about CryptoHunt versus Sweatcoin is that apparently three exchanges have already decided to list the CryptoHunt coin, so it can be exchanged for other coins or fiat. I think that CryptoHunt will have the same effect of getting me outside and walking more but will give me rewards that I find valuable.
CryptoHunt hasn't been launched yet, and is not listed on any exchanges so far. However, I will be keeping a close eye on this project and hope that it will live up to the hype!
