To me, money has always been pretty simple, I earned it, save it and spend it.
But recently the news has been full of a new currency and a different way to earn. Katie Booth, who is the Co-Founder of Vlique, made the news with her latest venture which is the “Vlique Coin”. Having met Katie and followed her business journey via social media, I was interested in finding out more.
The Vlique app has big plans to reward you with their new cryptocurrency “Vlique Coin” (VC$) every time you go to your favourite gym class or see your personal trainer, helping the 80% of gym goers who drop out of the gym within 8 weeks by offering a fresh incentive to keep fit.
I was curious about this concept, so I could head to the gym, workout AND get paid? – Yes!
It might sound a little too good to be true, so how do I earn?
Using the recommendation algorithms users will select from a worldwide network of gym class
and personal trainers. from there you can book and attend classes, once the sessions are marked as complete by the personal trainers/gyms, users accounts are topped up with Vlique Coin. Which you can then redeem on the app in exchange for rewards, giving the token real currency value.
How do I withdraw?
Vlique Coin can be redeemed on the app in exchange for rewards, for example, the same way you’d save and spend points with your local supermarket or similar. So, in simple terms, you enjoy your workout, which means that you’re rewarded coins which can then be redeemed against purchases on the application.
What kind of brands can we expect?
At this point, the brands involved are still under wraps. However, Vlique has previously worked with brands such as Lululemon, FaceGym and Grind.
Who would this benefit?
To quote Katie Booth (Vlique Co-founder)- “We’ve spent several months monitoring trends and our own consumer behaviour, and recognised there’s a huge opportunity to address the gap between the “instagram” lifestyles millennials aspire to, and their budgets. Unlike other digital tokens in the market which reward you for tracking steps, Vlique app combines reward mechanisms with elements of social banking, helping millennials budget for their wellness lifestyles and reduce costs, giving traditional money management methods a millennial upgrade.”