Lympo - Giving Health & Sports Data an Overhaul

Let's face it, we all want that body of our dreams, to stay fit and healthy is a goal many of us want but many of us also struggle with. This is one of the main reasons why the fitness market has grown by leaps and bounds in less than 15 years the market has doubled into the 90 billion US dollar market it is today and shows no signs of slowing down.

While new fitness programs, machines and techniques are constantly refined and improved to become more effective it can only do so through a collection of data. Tracking your fitness data has become popular over the last 5 years with Smartphones and Smartwatches making it easier to monitor fitness goals but what is that data being used for besides a personal tracking and a little motivation?

Not much if you ask the team at Lympo who believes this data can do more.

How Lympo sees fitness data

Lympo sees fitness data as a large resource of unused and untapped potential and wants to collect and curate this data into a valuable resource for both consumers and companies in the wellness and fitness space. Lympo has the ambitious goal of creating a healthy lifestyle ecosystem that uses the decentralised power of the blockchain.

So how do they plan to do this?

Unlike many fitness programs Lympo will not solely focus on motivating users to train and remain fit with a loyalty program or points but create an ecosystem where users and gyms, physical training centers, healthy life shops, health food stores, clothing stores and sports accessories of all categories, facial and body aesthetic centers, specialized trainers all work together to support the network.

Introduction to Lympo

How Lympo's LYM token will be used

Interaction with LYM will be done mainly through its app which tracks all your activity as well as doubling as your LYM wallet.

Data storage on the LYM blockchain

The app will capture data and store it on the blockchain creating a decentralised hub of fitness data

Earning LYM

Achieving certain tasks and fitness set out by the LYM app will allow you to earn LYM and keep you motivated to push that little bit extra and get those brand new runners you've been eyeing.

Buying and trading LYM

LYM will remain a tradable commodity and will still be prone to market fluctuations like every cryptocurrency which will allow investors to buy and sell LYM on exchanges in order to make profits.

Transacting with LYM

Earning or purchasing LYM will allow you to purchase fitness, wellness, medically related services as well as purchase goods from retail stores as if LYM were fiat currency

Where I see the future of health & sport data

It was only a matter of time before blockchain entered the fitness and wellness market and I don't think Lympo will be the last cryptocurrency to try its hand at taking a bite out of this ever-growing billion dollar market. Lympo will need to use their first mover advantage and begin customer acquisition with their MVP if they are to stake a claim as the leading cryptocurrency in this space.

I do see the value in bringing blockchain into this industry as it would be able to leverage off multiple industries from medicine, retail, fitness, wellness, health, insurance and more. Having a cryptocurrency that can keep track as well as become a tradeable commodity across all these value chains could see exponential growth.

Having the ability to pool together large sums of consumer and fitness data will also result in us discovering new trends and new ways of improving services and technology provided in the medicine, retail, fitness, wellness, health, insurance spaces with could prove to be revolutionary not only for research and statistical purposes but for the industry as a whole to progress.

Owning equity in Lympo

ICO's have become a popular means of funding tech companies of late and those who invest in ICOs may think they own a piece of a company but rather they own a commodity used and managed by the company. However, Lympo aims to change that in a revolutionary new way of looking at their token holders.

Lympo will be allocating 20% of the companies shares and distributing them among LYM token holders, this means that LYM will become a truly multi-purpose token and is not just tied to the success of the project but the success of a company as a whole.

This will also bring added stability to the value of LYM tokens and make it far more resistant to serious devaluation from market price volatility. A brave, bold and potentially smart move from the Lympo board and I am personally interested to see how this move will affect token prices.

How to get involved with Lympo

The Lympo token can be bought and sold on exchanges like Gate.io, IDEX and Cobinhood and is also listed on Coinmarketcap.com

Don't just take my word for it

I encourage you to do your own research on the topic, especially if you plan on investing an any ICO. As a potential investor, you need to practice due diligence and do not overextend yourself by investing more than you can afford to lose and the opportunity Lympo offers is no different. Please manage your risk and take advantage of the opportunity with responsible investing.

More Information & Resources:

For more information check out the Lympho website and the Whitepaper here

Website
Whitepaper
Telegram Channel

Disclaimer: This article should not be taken as, and is not intended to provide any investment advice and is for educational purposes only. As of the time posting the writers may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency as all investments contain risk.

This post was written as a submission for Writing Contest: Lympo

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