DALLAS – People can now start building a nice financial nest egg just by working out. That comes thanks to an alliance between Dallas Mavericks proprietor Mark Cuban and Lympo.
Cuban and Lympo just announced the official nationwide launch of the blockchain fitness app that is expected to revolutionize the sports, wellness and health industry. The launch, according to a press release, introduced the groundbreaking concept behind Lympo and its crypto token rewards platform that presents a very uniquely developed incentive program and series of challenges for fitness enthusiasts, while also acting as a pioneering marketing tool for wellness brands and industry stakeholders.
It is the first blockchain fitness app currently in the United States. And once Cuban did his due diligence and saw what Lympo had to offer, he was all-in.
“A lot of apps have tried to gamify physical fitness where you compete and you challenge yourself against others, but there really aren’t any rewards and that’s the difference (with Lympo),” Cuban said. “There was the personal satisfaction of out-running somebody, working out more often, and you can do those through activity on Apple and the different Under Armour apps, which are great, but there’s no real reward.
“And I think that’s what separates Lympo from the others, because you literally can earn Lympo tokens, which in turn can be exchanged for others.”
Cuban describes the concept in the same manner as a person who collects frequent flier miles because of the miles they accumulated while flying.
“In using the analogy of frequent flier miles is the perfect analogy,” Cuban said. “Just like people will take flights just to lock up those miles, or to get to premium rewards, I anticipate in our partnership (with Lympo) we’ll be able to do the same thing.
“And it’ll be particularly interesting as we have all kinds of wellness programs that originate with the Mavs as we go out into the community because fitness is important to us. We want to do as much as we can to encourage Mavs fans across North Texas to be fitter.”
Lympo is a Lithuanian technology app which encourages an active and healthy lifestyle that uses blockchain technology and fitness gamification to pay its users when they complete various fitness challenges. Lympo pay users with crypto tokens, which can be exchanged to purchase various merchandise.
“We want people to be healthy here, people to be motivated, and that’s what Lympo tokens are all about,” Lympo co-founder Tony G said. “It’s basically frequent flier points for staying healthy on your phone.
“We want people healthy, we want people motivated and we want them to be tracking their data and owning their health data. So whatever exercise they do they will track it.”
The target audience to use the Lympo app is both the young and old marathon runners, the folks who occasionally exercise, the ones who frequently exercise, and the good ‘ol couch potatoes. The benefits are rewarding.
“Before frequent flier miles, you just flew,’” Cuban said. “Now credit cards use frequent flier miles. (Lympo) is the next generation of, quote unquote, frequent flier miles.
“With miles you can just exchange them for tickets and maybe some other things you can exchange on different systems. But with this you’ll be able to exchange these tokens for a lot of different merchandise.”
Cuban actually is working on a system where Lympo crypto tokens will eventually be used to purchase items near and dear to his heart.
“When you download the app you’ll see that they have a shop,” Cuban said. “And we’re working on our payment gateways, but we’re not quite ready to just say exchange your Lympo tokens for Mavs tickets or merchandise yet, but we will get there.
“We have 10Ks, we have 5Ks, we have walk/runs, and there’s a lot of ways that we try to create rewards for them. A lot of the charitable athletic events and physical fitness events that we have, there’s a lot that we can do there as well. So there are definitely some off-line partnerships.”
The Lympo hierarchy are expecting the crypto technology to pay off handsomely, with the number of users eventually climbing into the millions.
“It’s on a blockchain, so you can see how many actually people hold Lympo tokens,” Tony G said. “It’s actually really grown really fast, but we just launched the technology. We’ve got the Lympo run/walk app, we’ve got the Lympo squats app as well launching instantaneously, so it’s hard to say how many users.
“We have huge ambitions, and when we have partners like (the) Dallas (Mavericks) and Mark it gives us more confidence. It gives us confidence in the whole team. With the help of the Mavs and Mark, I think those numbers will be in the millions for sure. We definitely think about millions and millions of people who can be motivated. We’re tokenizing health.”
Tokenizing it to the point where Cuban believes this is precisely where the future lies between the marriage of physical fitness and sports.
“I think it’s incentive for people who need to work out more, want to work out more or just want to challenge themselves,” Cuban said. “I think this is a good example of the Mavericks and our partners pushing the envelope for new technology.
“Having technology partners like Lympo allows us to push the envelope, and I think that becomes an attraction. So we’re excited about it, I’m excited about it, and I’m a user.”
The Lympo app is located in both the Play Store on Android and Apple phones. Cuban and Tony G are encouraging people to download it, use it, have fun with it, and stand back and watch the crypto tokens stack up.
“I think this is a foundation and a new way to really encourage people to work out and get rewards for it, and that’s what separates them and makes it unique,” Cuban said. “It’s a need nationally because of obesity rates with kids and obesity rates with adults even more-so.
“As the season goes on we’ll be able to create some things that we think are unique and differentiated and fun. You guys have seen us over the years really geared towards trying to deal with physical fitness for kids and adults, and this is a national extension where finally there’s a reward for doing so, and it’s fun with the challenges and so that’s the goal.”