Lympo (LYM) ICO Review & Analysis – Positives & Ratings

Lympo

Monetizing Sports & Health Data Via Blockchain

ERC20 Token

Lympo boasts a passionate team of entrepreneurs, sports and health professionals and tech talents that aims to build an ecosystem that enables everyone to earn tokens while living a healthy lifestyle. A versatile and experienced board of advisors including experts on blockchain for science, consultants on blockchain use in the public sector, health specialists and technology experts guarantee the best advice for Lympo to make people healthier with the help of blockchain innovation.

Features:

Fitness wallet and user rewards mechanism – Personal fitness wallet connected to health apps and wearables, Token rewards for pre-defined trackable health goals and Health and fitness data storage for individual’s future use.
Marketplace – In-platform purchases starting from an existing platform with 500+ fitness trainers, Healthy lifestyle goods and services in return for data and Tailor-made health and fitness advice based on data users’ and interests.
Crowdfunding platform – Innovative industry startups seeking funding and expertise, Lympo ecosystem community reviews and ratings for startups and LYM token investments enabling access to Lympo user base

“Powered by user-generated and user-controlled
fitness and wellness data, Lympo will allow the exchange of value through the introduction of LYM utility tokens. Lympo’s goal is to create an ecosystem where data is used efficiently by all industry stakeholders and everyone is rewarded fairly.”

Exchanges

Kucoin – Gate.io – IDEX – Bitfinex – Ethfinex – Hadax – Cobinhood – Bitforex

Positives

Gamification of tasks that some individuals find boring or hard is a great way to involve those who crave instant gratification and rewards for their efforts. Lympo takes a pretty simple idea of gamifying health & fitness. LYM tokens are obviously a reward for being to the gym on time, reaching milestones, the list goes on. Considering the demographic of healt & fitness is extremely large, there is no shortage of an audience here.
Lympo has some really nice branding. We don’t usually consider branding when we look for positives about a project but considering the application and the need for a catchy name, nice graphics and consistent marketing, it’s definitely something we took a look at when reviewing Lympo. No issues here. Lympo leaves a lasting impression to anybody who visits their website or sees their logo/s.
Great team on board here. Marius Silenskis is the Founder of AnyIdeas – IT and creative advertising agency. IT project manager with 5+ years of digital project management experience working with clients such as Mercedes-Benz, Newsec, and GCube. Key areas of expertise: IT team management, exceptional taste and understanding of modern design, advanced programming skills in several languages. Ada Jonušė was an advisor to ETHLend, a decentralized lending platform, blockchain events speaker and organiser, named an emerging European tech star by the Financial Times, Google and other New Europe 100 list partners. Previous experience: VC Labas Ventures (Seattle, U.S.), European Parliament, United Nations.
Lympo recently partnered with the Dallas Mavericks in a multi-year deal to promote health & fitness. Obviously this is a very well suited partnership and one that can really put Lympo in front of the right audience. Lympo will be featured on practice jerseys and the team will rename their training facilities to include the Lympo brand. A team called the “Mavericks Fitness Team” will be formed with the purpose of health & fitness promotion which will no doubt include Lympo in some way. Big positive.
Plenty of other positives that we could list here. Very detailed roadmap, an ecosystem that rewards all parties involved and a very strong marketing team on board. Lympo gets a strong rating from us.

Concerns

Our main concern for the Lympo platform is the simple need for adoption. Wearables and other fitness monitors are already in the hands of people so Lympo really needs partnerships/integrations with these companies to make sure the technology gets to the owners of these devices. Lympo isn’t deploying their own hardware and that’s probably a good thing. If Lympo was to partner with Fitbit, Motorola, etc, they’d have a huge leg up over potential competition. Partnerships are essential but we also have huge confidence in the marketing team.
Lympos business model is pretty easy for competitors to copy or replicate at least from what we can see. If another company was to come along with better marketing and the right partnerships, Lympo would really need to fight hard to compete. It’s pretty much a race to the top with this model and so far Lympo are definitely in front, the question is for how long. Lympo does seem very active with their community so no doubt the marketing team is keeping an eye out for competitors in this space.
No other concerns here. Lympo does have potential weaknesses but this is based more on the business model and less on the actual project itself. Lympo seems to be kicking goals right now so as long as they keep the momentum going and stay ahead of the pack, they should do well.