Home / Blockchain / Dallas Mavericks and Mark Cuban work together to launch the Lympo Blockchain Fitness App

Dallas Mavericks and Mark Cuban work together to launch the Lympo Blockchain Fitness App

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The Dallas Mavericks and Mark Cuban last week announced a partnership with the Lympo company that launched the first fitness app using blockchain technology. (AP Photo / Brandon Wade)

Blockchain and specifically cryptocurrencies fascinated the world throughout 2017 and has attracted many new consumers interested in space. & nbsp; The opposite, however, occurred mainly in 2018, as the main cryptocurrencies like Bitcoin and Ethereum have lost 80-90% of their total value. & nbsp; Despite unfavorable price action, space innovation continued to come forward and last week a familiar name in sport and technological space made its latest investment, as Mark Cuban launched the "blockchain fitness app" of the nation before with the partner Lympo.

Cuban, the owner of Dallas Mavericks, has been a serial entrepreneur since he sold his first startup, Broadcast.com, to Yahoo in 1999 for $ 5.7 billion. Despite the sale that took place almost 20 years ago, it remains the biggest investment Yahoo has never done and, miraculously, exceeds the $ 4.4 billion that the telecommunications giant Verizon has paid to acquire Yahoo itself last year.

Cuban is always looking for the next big opportunity and it is clear that he sees the blockchain fall into that category. & nbsp; At the beginning of the year it was part of an investment in cryptocurrency hedge funds 1confirmation is Unikrn Gold, a virtual currency used for betting on sporting and gaming events.

His latest project is a self-titled app Lympo after their partner, it was designed to be a cryptocurrency token intended to incentivize users to lead healthier lifestyles by rewarding this behavior. Cuban, with The CEO of Lympo, Patrick Brown, said that the application will be the first a incentive directly and reward the exercise with a token that provides monetary value and not just speculative value. Gamification has been much more common in startup attempts to attract users and Lympo will use this method for reward potential users with the cryptocurrency tokens that complete the walking and running challenges that will be displayed on the website.

The token will have the "LYM" title token and will be exchangeable for goods that can be valued in fiat currency. With many current cryptocurrencies traded and traded for other cryptocurrencies like Bitcoin and Ethereum, it is a breakthrough in space to have a potentially niche token that directly provides a fiat currency value on its own.

Users will be able to exchange their accumulated LYM token for sports and fitness products in the Lympo store, which will be available on the app. It is going to be invoiced as the "first online store" that will accept tokens as payment. L & # 39; app anticipates that will eventually be available a wider range of items in the store, such as personal training sessions, gym memberships and plans for users to continue to follow their diet and exercise routines. The blocker-based token of Ethereum, while tradable for goods and services, can also be traded on a number of trades listed on the Lympo website and therefore it is still susceptible to the very volatile conditions of the very green cryptocurrency market.

"Lympo is a perfect tool to motivate people to become healthy and adopt an active lifestyle" He said Brown. "By improving the well-being of people around the world and providing tangible incentives through our unique technology, we aim to bring together fitness and wellness communities everywhere."

While the function is not yet available, Lympo is planning optionally provide an option to synchronize data with fitness and health trackers who will then be able to offer personalized health and fitness advice to users of the platform. While the transaction is not readily available, the way the platform will work for both parties is that users sell their eligibility data and return LYM tokens.

"Lympo aims to make positive changes by taking small steps towards a more active lifestyle" He said Cuban. "Lympo does not force you to change your daily habits drastically, but it's a great incentive to get real prizes, like Mavs tickets and equipment, for your fitness efforts."

With Lympo in the early stages of its development, it is looking for partners build its ecosystem promising opportunities for partner companies to create awareness through sponsored challenges, offering their products / services as a reward on the platform. Their efforts will certainly be helped by Mavericks as a partner and able to offer challenges on the platform that will soon be exchanged for Mavericks prizes as tickets for games or team merchandise.

Cuban is also not the only big name in the sports industry to launch support behind the project. Professional tennis player Caroline Wozniacki and discus thrower of the world champion Andrius Gudzius they also collaborated with the project and users were able to get prizes for finishing the Vilnius Marathon at the start of this year in Lithuania.

So far, their efforts to penetrate the crowded space of sports and fitness technology seem promising. Assuring Mavericks as a strategic partner and Mark Cuban as a supporter gives the company a big advantage, offering opportunities that most companies of its size could not afford. That said, there's a lot of work to do to make Lympo profitable and it remains to be seen how much users will be earning LYM tokens, given the very small percentage of the currently familial population and exchange cryptocurrencies. & Nbsp;

For complete information on the LYM token and the project, the white paper is available Here.

The contents of this article do not represent an endorsement of the LYM token. The cryptocurrency markets are extremely volatile and every individual who thinks about investing should consult a financial professional before doing so.

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The Dallas Mavericks and Mark Cuban last week announced a partnership with the Lympo company that launched the first fitness app using blockchain technology. (AP Photo / Brandon Wade)

Blockchain and specifically cryptocurrencies have fascinated the world throughout 2017 and attracted many new consumers interested in space. The opposite, however, occurred mainly in 2018, as the main cryptocurrencies like Bitcoin and Ethereum lost 80-90% of their total value. Despite the unfavorable price action, space innovation continued to come forward and last week a familiar name in sport and technological space made its latest investment, as Mark Cuban launched the " first blockchain fitness app "of the nation with partner Lympo.

Cuban, the owner of Dallas Mavericks, has been a serial entrepreneur since he sold his first startup, Broadcast.com, to Yahoo in 1999 for $ 5.7 billion. Despite the sale that took place almost 20 years ago, it remains the biggest investment Yahoo has never done and, miraculously, exceeds the $ 4.4 billion that telecommunications giant Verizon paid to acquire Yahoo last year.

Cuban is always looking for the next big opportunity and it is clear that he sees the blockchain fall into that category. At the beginning of this year, he was part of a cryptocurrency hedge fund investment 1confirmation is Unikrn Gold, a virtual currency used for betting on sporting and gaming events.

His latest project is a self-titled app Lympo after their partner, it was designed to be a cryptocurrency token intended to incentivize users to lead healthier lifestyles by rewarding this behavior. Cuban, together with the CEO of Lympo, Patrick Brown, said that the application will be the first to directly incentivize and reward the exercise with a token that provides monetary value and not just speculative value. Gamification has been much more common in attempts by startups to attract users and Lympo will use this method to reward potential users with cryptocurrency tokens while completing the walking and running challenges that will be displayed on the website.

The token will have the "LYM" title token and will be exchangeable for goods that can be valued in fiat currency. With many current cryptocurrencies traded and traded for other cryptocurrencies like Bitcoin and Ethereum, it is a breakthrough in space to have a potentially niche token that directly provides a fiat currency value on its own.

Users will be able to exchange their accumulated LYM token for sports and fitness products in the Lympo store, which will be available on the app. It is referred to as the "first online store" that will accept tokens as payment. The app expects that eventually a wider range of items will be available in the store, such as personal training sessions, gym memberships and plans for users to continue to follow their diet and exercise routines. The blocker-based token of Ethereum, while tradable for goods and services, can also be traded on a number of trades listed on the Lympo website and therefore it is still susceptible to the very volatile conditions of the very green cryptocurrency market.

"Lympo is a perfect tool to motivate people to become healthy and adopt an active lifestyle," said Brown. "By improving the well-being of people around the world and providing tangible incentives through our unique technology, we aim to bring together fitness and wellness communities everywhere."

Although the feature is not yet available, Lympo plans to provide an option to synchronize data with fitness and health trackers that will then be able to offer personalized health and fitness advice to users of the platform. While the transaction is not readily available, the way the platform will work for both parties is that users sell their eligibility data and return LYM tokens.

"Lympo aims to make positive changes by taking small steps towards a more active lifestyle," said Cuban. "Lympo does not force you to change your daily habits drastically, but it's a great incentive to get real prizes, like Mavs tickets and equipment, for your fitness efforts."

With Lympo in the early stages of its development, it is looking for partners to build its own ecosystem promising opportunities for partner companies to create awareness through sponsored challenges, offering their products / services as a reward on the platform. Their efforts will certainly be helped by Mavericks as a partner and able to offer challenges on the platform that will soon be exchanged for Mavericks prizes as tickets for games or team merchandise.

Cuban is also not the only big name in the sports industry to launch support behind the project. Professional tennis player Caroline Wozniacki and discus of world champion Andrius Gudzius also collaborated on the project and users were able to get prizes for finishing the Vilnius Marathon at the start of this year in Lithuania.

So far, their efforts to penetrate the crowded space of sports and fitness technology seem promising. Assuring Mavericks as a strategic partner and Mark Cuban as a supporter gives the company a big advantage, offering opportunities that most companies of its size could not afford. That said, there's a lot of work to do to make Lympo profitable, and it remains to be seen how eager users will earn LYM tokens, given the very small percentage of the currently familiar population and exchange cryptocurrencies.

For complete information on the LYM token and the project, the white paper is available Here.

The contents of this article do not represent an endorsement of the LYM token. The cryptocurrency markets are extremely volatile and every individual who thinks about investing should consult a financial professional before doing so.

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