How Sweat Economy distributed its Web3 token to 13 million holders
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🧞♂️ Move-to-Earn: Fad or the future? Community Insights on how Sweat Economy brings real value to Web3
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What is Sweat Economy?
Sweat Economy is a successful sweat-to-earn ecosystem that incentivizes exercise through crypto rewards.
Their smartphone app, Sweatcoin, connects with other health tracking platforms like Apple Fit and Google Fit to track activity which includes walking, running, and jogging. And, what’s more important, it provides users with in-app tokens based on their movement:
Every 1000 steps = 1 $SWEAT token
As long as users have the Sweatcoin and Sweat Wallet apps, they earn $SWEAT tokens every day with their movements without buying an NFT or any initial investment.
With $SWEAT tokens, any users can opt in to prize draws and win tangible rewards such as Nike gift cards, Apple watches and iPhones, event tickets, etc.
Sweat Economy's Achievements
Since its inception in 2016, Sweat Economy has achieved significant milestones:
🔸 Over 120 million users joined worldwide.
🔸 The token was distributed to over 13.5 million holders.
🔸 Every day organic growth of 10K+ sign-ups in Sweat Wallet.
🔸 $13 million raised in funding in July 2022.
🔸 Transactions totaling $60 million in value (as for Q3 2021).
🔸 Users becoming 20% more active after downloading the app.
Why is Sweat Economy so popular?
The popularity of Sweat Economy can be attributed to several reasons:
There’s no entry barrier or charge that makes it accessible to everyone.
Participants are free to utilize the earned tokens for various business purposes.
Any entity is free to earn $SWEAT by verifying movement, whether Apple with a watch, FitBit, Technogym, or other activity trackers.
The platform is built on the NEAR blockchain, which provides a cost-effective and environmentally friendly infrastructure.
The core concept of "move-to-earn" not only encourages personal growth but also contributes to a healthier planet.
🔥 Hot news
If you wanna gain more insights into Sweat Economy, Oleg Fomenko, the co-founder, will be speaking at the Epic Web3 Conference.
Oleg will share valuable lessons learned from launching a product and token in a bear market.
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