The sports market has been popular for hundreds of years, yet its market size continues to increase. For instance, the estimated size of the global sports industry in 2016 was USD 1.3 trillion. Additionally, the usage of mobile health apps is also actively increasing, with an estimate of 3.2 billion app store downloads of such apps in 2016.
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With time, health-related data became crucial for individuals and companies involved in the sports, health, wellness and data-collection markets. Despite this, it is still hardly possible for users to efficiently monetize the data which they have generated and it in return also makes it difficult for companies to come up with solutions tailored to current needs of the market.
Lympo represents an exciting project that seeks to solve this issue. The platform, which is powered by user-controlled and generated data, will allow health/sports data exchange and its monetization via the LYM utility token. With this in mind, Lympo aims to create a data-sharing ecosystem, used by all members of the sports industry, which effectively rewards everyone for their contribution.
Some of the features that Lympo will offer include but are not limited to: a personal fitness wallet that is connected to health apps and wearables, token rewards for reaching certain health goals, fitness and health data storage for individuals, a fitness trainer search engine, a marketplace to buy goods and services with LYM tokens, personal fitness advice based on user data and interests, community reviews and ratings for health/sports startups, token investments, crowdfunding services, data on nearby gyms and health insurance services.
Recently, Lympo has decided to distribute 20% of its company shares to LYM token holders. The distribution will be based on the number and the duration of the tokens held, expressed in a number of points to be constantly updated in a public database. Lympo wishes to grant its tokens real value and utility, while also growing to become a powerful company on the market.
Utility will be granted by allowing users to: spend LYM in the Lympo ecosystem to purchase a wide variety of products and services, invest in various sports/health-related crowdfunding campaigns, but also through exchange-based trading for a profit. However, further value will be granted by giving shareholder rights to LYM holders. These aspects make LYM both a multi-purpose, but also a real use-case token.
For more information about Lympo, feel free to check out their website, white paper and Medium announcement.
