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 Bybit, Bitget, OKX, MEXCGate.io cryptocurrency exchanges.

What are SWEAT (SWEAT) user reviews/opinions?

OGAudit is the first independent social audit platform for web3 projects and cryptocurrencies. Here you can find comprehensive crypto evaluations, ratings, unbiased and objective expert user reviews. There may be positive, negative, and neutral evaluations based on experts' experience and perspective with the product or the service about each cryptocurrency like SWEAT SWEAT. To access these ratings, evaluations, and comments, click here.

How to mine SWEAT (SWEAT)? How can I stake SWEAT (SWEAT)?

There may be different staking options available such as to participating in DAOs, decentralized governance and revenue sharing. Please watch out for scams. Only consider staking options promoted on the official website of the project and advised partners. Please click here to see the official links and make sure to follow the latest instructions.

What is the circulating, max supply and market cap of SWEAT (SWEAT)?

This data is dynamic and varies depending on the number of tokens that are being vested/vesting, removed from circulation because of network transactions or burned permanently and staking reward distribution mechanism. According to self-declared data the circulating supply of  SWEAT (SWEAT) is ($7,654,507,620), max supply of SWEAT  SWEAT is ($0) and the market cap of SWEAT  SWEAT is ($18,077,783). 

What is the SWEAT (SWEAT) price prediction?

Predicting prices in the crypto market is highly speculative and can't be definitively stated. Various factors drive price movements such as macroeconomics, Bitcoin ($btc) and crypto market overall behavior, on-chain activity, whale positionings, growth potential of the project etc. We cannot give any price predictions nor financial advice, but you can look at our comprehensive data, expert user reviews and decide if the product suits your needs! Please do your own research DYOR!

What is the price of SWEAT (SWEAT)?

The current market price of SWEAT (SWEAT) is $0. As the OGAudit community we mainly focus on features such as use cases, product development, and sustainable growth. However, we also provide real-time market data and coin/token statistics, analytics, price history for popular altcoins. see here.

Is SWEAT (SWEAT) a good investment?

It is important to do comprehensive research before deciding whether SWEAT (SWEAT) or any other cryptocurrency is a good investment. We believe you should ask each of these questions before deciding to invest or make partnerships with any crypto project:

Is this type of digital asset considered legal in your country?

Does Coin (SWEAT SWEAT) solve a good problem or offer the best solution?

Do products and services work effectively, and solutions are scalable?

Does the team have a realistic roadmap and can catch up with it?

Does SWEAT (SWEAT) have reasonable and sustainable revenue income models?

Can the team market their products and services well?

How decentralized is the governance and how strong is the community?

Has it reached its fair market value yet?

Does the coin/token have enough trading pairs and liquidity?

As the OGAudit community crypto experts, we evaluate crypto projects by asking each of these questions and more, to provide objective and reliable comments and ratings for the end-user, investors, and institutions. By carefully considering these reviews, ratings, and price action, you can decide whether SWEAT (SWEAT) is a good crypto to invest in or not. To access these evaluations and ratings please click here . The OGAudit experts are the largest, most experienced, and elite users in the crypto space. However, keep in mind that the scores, expert reviews and comments on our platform are OGAudit users’ personal views and meant for educational purposes only. None of the information we publish on our website contains any investment advice and should not be perceived as such. Always -DYOR- do your own research well.