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Chaotic Moon Studios, an Austin-based technology company, launched a fitness application called FitCoin, which enables users to earn bitcoin while working out.
The app needs users to sync-in a fitness tracker for recording heart rate and duration of the exercise session. It then converts the collected data to a CPU time on a Bitcoin mining rig; thus calculating how much bitcoin a user should earn after the workout session.
Jon Werner, an Innovation Explorer at Adidas, welcomed such next generation apps while reminding their active participation in "providing sports and fitness coaching apps and monitoring devices since the emergence of wearable sensor technology."
"One of the biggest challenges in the space is finding ways to keep consumers engaged," he added. "We are excited to see how cryptocurrency [Bitcoin] can motivate people to make their exercise and fitness routines a long term habit."
