As you may know if you've been following my blog, I've been quite excited about the idea of being rewarded for exercise with cryptocurrency. A few weeks ago I did an extensive search and found that 3 projects were in the works the make this a reality.
I've been going on an on about GYM Rewards, which is one of the fitness crytocurrencies that caught my attention and I was most excited about that one, but I've now taken notice to BEATS as well.
Initially I liked BEATS and think they are releasing there app slightly sooner than gym rewards, but when I found out they had planned to release 230 Billion tokens I felt that was way too much and could negatively affect the project including there ongoing ICO. As it turns out they have since made an adjustment and will be burning 225billion of those tokens and releasing with a new hardcap of 5 billion. They are adjusting the token price slowly during the remainder of the ICO phase, but still honoring the initial token price and bonus level for the next 4 days. I feel that is much more reasonable and now deserves a second look. It doesn't look like the ongoing rewards are distributed as new tokens, but token awarded by sponsors. This could mean a more stable token price without the built in ongoing inflation from some of the other blockchains.
If you do want to check out BEATS, here is my referral code, I think I am awarded something like 0.5 BEAT if you create and account and % if you take part in the ICO.
I have not yet taken part in either of these ICOs, but am excited to try them both out as another method to earn crytpocurrencies and stay motivated with some of my fitness activities.
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Apps that gives us crypto for exercising could be a great addition to the blockchain space! I'm not going to be participating in any of the ICOs, but I will keep an eye out on how the project develops; it could easily go viral and bring a lot of new people into the cryptocurrency world.
Yeah, I'm also reluctant and don't see much benefit to investing in the ICO, but I am really looking forward to giving them a try once they are active.