New App Earns You Money For Working Out
PHILADELPHIA (CBS) -- Fitness tracking is all the rage these days as more and more apps are offering to count your steps for you.
CBS 3's Jim Donovan reports that some apps are promising to help you get fit by paying you to keep moving.
Gus Ide, 23, likes to stay active and now he's getting rewarded for it, thanks to a new app called Sweatcoin. He earns digital money with every step he takes.
"For me, it's just seeing, having visibility on how far you've gone," Ide said. "I'm always thinking, 'Okay, so I did this last week. How much am I doing this week?'"
The Sweatcoin app banks one coin for every 1,000 steps. The currency can be used to pay for deeply-discounted products and services. For instance, 5,000 steps could get you a free yoga class, 15,000 can be used for workout clothes.
Russian entrepreneur Oleg Fomekno helped develop the app that helps make movement valuable.
"Sweatcoin really does function like money," Fomekno said. "Vendors are accepting it as payment. And I can send Sweatcoins to you. You can send Sweatcoins to me."
Sweatcoin joins a growing number of digital fitness apps that offer rewards for steps. "Bitwalking" and "Gympact" also pay out virtual money. "Charity miles" turns steps into donations. Free coupons are given out on "Nexercise", and "Bodbot" provides free training sessions.
Sweatcoin hopes to eventually make money through deals with insurance companies, healthcare providers, and employers who want to motivate their workers to exercise.
Ide is trying to decide what to buy with his hard-earned money.
"I'm waiting, saving up for some good stuff," Ide said.
He's banking on every step.
The Sweatcoin app is free and is currently available for iPhones. It's scheduled to launch in a few weeks for Android users.
