US – Creative studio Chaotic Moon has created an app that converts exercise statistics into FitCoin.
- Financial rewards introduced to the fitness industry
- Digital currencies analyst CoinDesk predicts that by the end of 2015 more than 140,000 companies will be accepting Bitcoin
The chance to receive financial rewards for exercising is an incentive sure to get individuals focusing on fitness. That is exactly what is offered with the new FitCoin app, launched by Chaotic Moon at this year’s SXSW. The app works by converting physical workout data captured through wearable technology, such as the Mio heart-rate monitor, the Jawbone UP3 and Atlas, into Bitcoin. Although only in alpha stage, this app is set to change the face of the fitness and Bitcoin industries. In a bid to develop its own cryptocurrency, Chaotic Moon is looking towards partnerships with sportswear companies such as Adidas to build FitCoin into a fully functioning integrated Bitcoin fitness app.
The Big Picture: In our Tap To Earn microtrend we explore platforms that enable people to subsidise their incomes by micro-tasking. FitCoin is offering fitness fanatics a small yet tangible monetary incentive to work out.