In a world where many products and services are getting their crypto and/or blockchain equivalents, we are not surprised to see the world’s first cryptocurrency e-bike being announced.
A product of a London, UK-based 50cycles – the TOBA crypto e-bike will generate cryptocurrency using its rider’s muscles and the built-in electric motor. It is being introduced in partnership with customer loyalty-oriented token LoyalCoin, and will be available in August.
“This is not only the first electric bike of its kind, but it will also be the first product ever to be tokenized and which issues reward for use,” 50cycles CEO Scott Snaith told industry publication Cycling Industry News.
By taking rides with the TOBA crypto e-bike, users will get to generate LoyalCoins equivalent in value to £20 ($26.50) per thousand miles (around 1600 kilometers). So this ain’t gonna be an easy way to earn some extra cash, but then again — does any other bike or e-bike offers anything similar?
Once earned, riders are free to exchange their LoyalCoin holdings into other crypto or fiat currencies, or use them towards other purchases with 50cycles.
Speaking of those purchases, the most affordable TOBA e-bike will retail for £1695 (about $2250). That’s a lot of money, but then again — 50cycles is known for selling some really fancy e-bikes, which easily costs as much without earning you a single penny.
So if you’re into fancy — read: expensive — e-bikes, perhaps this is something you would consider getting. Or that’s too much for your taste? What do you say?