StandApp, Inc.
Earning bitcoin rewards for walking, shopping, playing games, and surveys.
| Date | Investors | Amount | Round |
|---|---|---|---|
* | N/A | Seed | |
| Total Funding | 000k | ||
StandApp, Inc., operating under the name sMiles, provides a mobile application that allows users to earn fractions of Bitcoin, known as satoshis, for performing routine activities. The company was founded in 2019 and is headquartered in Venice, Florida. A seed investment round was announced in February 2022, led by GMF Capital, with participation from other private investors including Laurent Reiss, Alexander Gaukhman, and David Young. Ig Berezovsky is noted as a co-founder of the platform.
The business operates on a gamified, move-to-earn model, rewarding users for activities they already perform. The sMiles application, available on both iOS and Android, integrates with phone health apps like Google Fit and Apple Health to track steps, rewarding users for walking. Beyond physical activity, users can accumulate satoshis by shopping through the app's retail partners, playing games like chess and arcade-style games, and completing surveys. This positions the company at the intersection of the mHealth, customer loyalty, and cryptocurrency markets.
Revenue is generated through affiliate partnerships with retailers and brands. When users make purchases through the platform, sMiles earns a commission, a portion of which is shared with the user as Bitcoin cashback, with rates of up to 35%. The company also provides a backend and API for corporations interested in integrating Bitcoin micro-rewards into their own systems, with a specific solution tailored for healthcare and insurance companies to incentivize wellness. All user earnings are held in a custodial wallet within the app and can be withdrawn to any external Bitcoin Lightning wallet once a minimum threshold of 1,000 sats is met.
Keywords: Bitcoin rewards, move-to-earn, satoshi, Lightning Network, mobile rewards app, crypto cashback, gamified fitness, affiliate marketing, microtransactions, mHealth, customer loyalty, get paid to walk, earn crypto, financial software, fintech, Bitcoinverse, corporate wellness API