SWEAT SWEAT Price

What is SWEAT (SWEAT)?

Sweat Economy: Transforming Physical Activity into Cryptocurrency Rewards

In the dynamic realm of fitness and cryptocurrency, Sweat Economy (SWEAT) has emerged as a groundbreaking initiative, seamlessly blending physical activity incentives with blockchain technology. Launched in 2016, the Sweatcoin app, with over 110 million users globally, motivates individuals to adopt healthier lifestyles by rewarding them with Sweatcoin, a non-crypto virtual token.

The driving force behind Sweat Economy is the co-founder, Oleg Fomenko, a seasoned entrepreneur with a background at Coca Cola, Visa, PepsiCo, and the Boston Consulting Group. Alongside co-founder Anton Derlyatka and CTO Egor Khmelev, the team has successfully transitioned the popular Web2 app Sweatcoin into the Web3 space.

SWEAT introduces a crypto token, SWEAT, and a cryptocurrency wallet, Sweat Wallet, enabling users to convert Sweatcoin rewards into crypto tokens for real-world prizes and experiences. With over 13 million wallets created in just four months, Sweat Economy has raised $13 million in investor funding and plans to launch a public token sale on the DAO Maker launchpad.

What sets Sweat Economy apart is its Move-to-Earn (M2E) concept, encouraging users to be physically active and earn cryptocurrency in return. The app claims to have increased users' physical activity by an average of 20% and has partnered with the NHS to promote a healthier society.

SWEAT's uniqueness lies in its no upfront fee approach, relying on fundamental value for token demand. The revenue model is driven by user engagement and distribution (B2B) and transaction fees (B2C), setting it apart from traditional engage-to-earn projects. The Sweat Wallet serves as the largest Web2 to Web3 conversion, providing a seamless on-ramp into the world of cryptocurrency for anyone with a smartphone.

The long-term vision of Sweat Economy extends beyond individual rewards, aiming to create an open economy of movement. Tokenizing movement enables users to earn for various activities like gym workouts, cycling, and swimming. The Sweat DAO allows users to monetize their movement data by selling it to insurers and other stakeholders.

Sweat Economy operates on the NEAR Protocol, introducing dynamic NFTs, gamification, and staking for rewards and yield. Users can access attractive rewards, enjoy discounts on trading and transaction fees, and participate in NFT drops. The project has successfully minted over 120 million registered users on the Sweatcoin app, making Sweat Wallet the official hub for managing and earning rewards through SWEAT.

As Sweat Economy continues to evolve, plans for NFT marketplaces, a crypto exchange, and gaming experiences will further engage the growing Sweat community. With its unique blend of fitness motivation and cryptocurrency rewards, Sweat Economy is poised to reshape how individuals perceive and interact with their physical well-being in the digital age.

What is unique about SWEAT (SWEAT)?

Sweat Economy stands out for its Move-to-Earn (M2E) concept, incentivizing users to be physically active and earn cryptocurrency rewards. Unlike traditional engage-to-earn projects, SWEAT's no upfront fee approach and revenue model based on fundamental value contribute to its uniqueness.

Who are the founders of SWEAT (SWEAT)?

The founders of Sweat Economy include Oleg Fomenko, a seasoned entrepreneur with experience at Coca Cola, Visa, PepsiCo, and the Boston Consulting Group; Anton Derlyatka, an MBA graduate from the London Business School with a background in fitness tech and roles at Reebok, Kearny, and Pepsi; and Egor Khmelev, the CTO and a University of London Computer Science program graduate who led tech startups in Moscow.

Who are the backers/investors of SWEAT (SWEAT)?

Sweat Economy is gearing up for a public token sale and strong hold offering on the DAO Maker launchpad, indicating growing interest from the investment community.

Where can I buy SWEAT (SWEAT)?

You can buy SWEAT (SWEAT) on Bitget, MEXC, Bybit, Gate.io, OKX cryptocurrency exchanges.