Lympo, a company gameifying fitness and motivating people to exercise by issuing crypto token rewards to users for completing workout challenges, is presenting a new marketing method intended for fitness industry stakeholders.
The company will launch its app in the U.S. next month in an event featuring the Dallas Mavericks of the NBA. The app, called Lympo Run, allows users to earn money for completing simple walking or running challenges. The rewards are issued in the form of LYM crypto tokens, which hold real monetary value and can be used to buy sporting goods in Lympo Shop without ever leaving the app.
On October 30th, the company revealed a new type of marketing tool intended for gyms, personal trainers, sporting goods shops, and other participants in the health and fitness market. Lympo is offering a service to help fitness-related companies boost their brand awareness by hosting sponsored challenges on Lympo Run. The bigger the LYM reward the brand issues for completing a sponsored challenge, the more attention it would attract from the Lympo user base.
“This is a new paradigm in marketing,” said Lympo Chief Marketing Officer Gintautas Nekrosius. “Instead of paying large sums of money to traditional marketing providers, businesses can now instead distribute that same money to everyday people seeking to live a more active life, at the same time increasing their brand awareness and proving their social responsibility.”
Essentially, Lympo creates a beneficial situation for each platform participant: Users can monetize their fitness activities via the LYM token, and the businesses purchasing sponsored challenges receive valuable access to a tech-savvy global community, passionate about healthy living.
According to Lympo CEO Ada Jonuse, Lympo’s long-term goal is to become a central community hub for all things fitness: “The health and fitness industry needs its own Uber and this is what we’re striving to become, step by step. In the future, in addition to earning money for living a more active life, Lympo Run users will also be able to easily find and communicate with a personal coach and access a trove of information on sports, health and living an active lifestyle.”
Disclosure: This article includes a client of an Espacio portfolio company