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Phil Hall
Phil Hall
Dec 17, 2020
News

Animoca Buys Blockchain Fitness App for $1.38 Million

Animoca Brands has acquired blockchain fitness application Lympo for 1.38 million dollars. The native LYM token went 5 percent up in value.
Animoca Buys Blockchain Fitness App for $1.38 Million

Blockchain gaming company Animoca Brands has acquired blockchain fitness application Lympo for 1.38 million dollars. The application promotes a healthier lifestyle and rewards users with Lympo Tokens (LYM) when they exercise using the mobile app. The app is partnered with the Samsung Blockchain Wallet inside the latest Samsung Galaxy smartphones.

Users of the blockchain fitness app Lympo can sell their acquired LYM tokens on various cryptocurrency exchanges. In addition they can also use these tokens to purchase sporting goods in the Lympo shop. Currently the app has approximately 300 thousand users, primarily in the United States and South Korea.

At the moment of the acquisition LYM had a market value of $0.002902. The price went up 5 percent after the announcement. Animoca Brands wants to support LYM through its other token ecosystems, which would include REVV, GAMEE and SAND. The company also wants to tap into Lympo's existing partnerships to grow engagement for sports-related digital collectibles.

Animoca's blockchain ecosystem

Gamers who play F1 Delta Time will be familiar with REVV. This token is the oil that keeps the virtual engine of the game and the entire ecosystem running. REVV will not only be used in F1 Delta Time, but also in other upcoming racing games. Obviously REVV isn't the only token in the Animoca Brands portfolio. The Sandbox uses SAND, which should acquire a lot more utility in the coming months as the virtual world will actually launch soon.

Until the moment there hasn't been a lot of crossover between these ecosystems. However, racers in F1 Delta Time have had the ability to win some SAND. Similar crossover events could also take place in the Lympo app, stimulating gamers to run outside and earn some extra REVV or SAND.

Disclaimer: The information provided on this page do not constitute investment advice, financial advice, trading advice, or any other sort of advice and you should not treat any of the website's content as such. Individuals should do their own research before taking any actions related to the product they read about and carry full responsibility for their decisions.
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