We’ve all seen fitness apps and trackers that count our steps etc, but there’s a whole new fitness app out there that actually pays you for all the steps it counts.
Sweatcoin (based in London) actually awards it’s users with a digital currency that lets you use the coins you save in exchange for products and services, you even have the option to donate to buy items for charities or send to a friend as a gift.
Oleg Fomenko, the co-founder of Sweatcoin said “Sweatcoin really does function like real money. Vendors are accepting it as payment. And I can send Sweatcoins to you. You can send Sweatcoins to me,” on CBS News. Gus Ide that has used the app and calls it a great motivator, saying, “For me, it’s just seeing, having visibility on how far you’ve gone. I’m always thinking, ‘OK, so I did this last week, how much am I doing this week”’. He also said “I’m waiting, saving up for some good stuff”, referring to the virtual money his steps have earned him.
Sweatcoin is not the only app in the industry right now that gives rewards for fitness, there’s also the charity Miles that turns your steps into donations sent to the cause of your choice, and there’s also Gympact and Bitwalking that like Sweatcoin reward with virtual currency.
Eventually Sweatcoin is planning on profiting from things such as employers, health care providers and insurance companies which are interested in promoting exercise to their employees and clients.
The app is only currently available on iPhone app store but will soon be Available on android as well. It’s also free to download which is always a plus. This would be a great idea for any entrepreneur.