Lympo is a project that recently completed their ICO and is all ready to take on the already huge fitness market. The most striking news announced is that they will be giving away 20% of its shares to the token holders! This will further encourage users to like and have trust in the project. The business model that Lympo is going to use is the blockchain gym! So without any ado lets get straight into the technology that has made this possible.
Technology :
Most of us fitness freaks out there use fitness bands and activity tracking devices to keep track of all the fitness related tasks and metrics like heart rate, gym check-ins, or even our sleep cycles. This data whether we like it or not is being used by other companies for their benefits. With Lympo users can now exchange their fitness related data in exchange for Lympo tokens. For example, use of these fitness trackers is very helpful as you will also know if you have burnt enough calories so as to keep yourself healthy. The data generated by these smart trackers now have a monetary value as well! So it is a win-win situation for everyone!
Blockchain gym:
Most of us have gone to gyms before. You opt to subscribe for some number of months as your basic package. However, in order to get good results, it is necessary to buy add-ons which are going to be quite expensive. So you end up choosing the basic package. Even after that, you will end up missing going to the gym on many days. There are many gyms’s out there. Each one competing with each other to be the best. Gyms can use the data from your fitness tracker to their benefit. Lympo lets the users get the metrics at a personal level which would then be of a great value for the gym trying to show that they can produce the results.
This eventually leads to the blockchain gym model of Lympo. A blockchain gym is no different than any other gyms. Even here you will need to pay for the subscription and pay extra for add-ons. However, in a blockchain gym, users can share the Lympo data in return they get discounts at the gym. Discount for just sharing your fitness data doesn’t hurt anyone now, does it? Users are paid in LYM tokens which can then be redeemed to get discounts on the subscription fees.
First, this will help the gym as they now have actual tamper-proof evidence on the blockchain about the results of each session. Secondly, this will attract more people to the platform as they get more discounts on the subscription fees. Last but not the least, it lets the gyms orchestrate diet/exercise plans for each individual to see maximum effect.
You might be thinking about what to do if there are no blockchain gyms around you. Well, blockchain gym is just one-way Lympo works. You can still share your fitness data as there are many potential clients who can then make use of it for their benefit. Since the health and fitness industry is growing rapidly, Lympo can play a major role in getting blockchain into this market.
Closing comments:
Lympo is a very ambitious project which aims at an already competitive fitness market. The idea of incentivizing users for sharing their fitness data is very striking as well as attractive to many. You can now go to the gym without worrying too much about the hefty subscription fee you will have to pay as it is now discounted because of the data you are willing to share. With companies already making use of your fitness data, it would be nice if you get paid while you share the data.
LINK OF THE CONTEST https://steemit.com/cryptocurrency/@originalworks/310-steem-40-bonuses-sponsored-writing-contest-lympo
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