Sweat Economy Expands Into 8 Countries, Bringing Fitness to the Blockchain
TLDR:
- Sweat Economy, an innovative Web3 ecosystem that incentivizes physical activity, has expanded into the United States and eight additional countries, driven by strong community support.
- It builds upon the success of the Sweatcoin app, with over 140 million registered users and a reputation as the most downloaded health app in over 60 countries.
- Sweat Economy introduces a unique approach, allowing users to validate their movements and tokenize physical activity, minting $SWEAT on the NEAR Protocol.
- Users can use $SWEAT for various purposes, including depositing into “Growth Jars” and unlocking exclusive rewards within the ecosystem, as well as participating in the free-to-play Sweat Hero NFT game.
- This expansion aims to inspire physical activity and promote healthier lives while contributing to the emerging movement economy.
Sweat Economy, the innovative Web3 ecosystem that incentivizes physical activity, has expanded its reach into the United States and eight additional countries, including the Bahamas, Barbados, Botswana, Ghana, Jamaica, Pakistan, Zimbabwe, and Uganda.
This expansion opens the doors for millions of users to start tokenizing their physical activity, contributing to the growing global movement economy.
The Power of Community Support
Sweat Economy’s entry into these new markets is a result of the overwhelming support from its dedicated community.
In a historic vote, over 380,000 users actively participated by choosing to burn and reallocate idle tokens to support the launch effort.
This strong community backing is a testament to the platform’s mission of encouraging physical activity through innovative incentives.
Building on Sweatcoin’s Success
Sweat Economy is building on the success of the wildly popular Sweatcoin app, which made its debut in 2015.
Known for pioneering the “move-to-earn” concept, the Sweatcoin app has attracted over 140 million registered users and earned the distinction of being the most downloaded health app in more than 60 countries.
Now, Sweat Economy represents the next evolution of this success story, aiming to accelerate the mainstream adoption of Web3 technologies at the intersection of tokenization, health, and cryptocurrency.
The red, white, blue, and you! 🇺🇸
— NEAR Protocol | NEARCON | November 7-10 | Lisbon! (@NEARProtocol) October 17, 2023
The global leader in tokenizing physical activity @SWEATEconomy is stepping into the US of A (and more!) 🎉
With over 350K community members backing the move, Americans can now tokenize their steps and join the movement economy.
Lace up and… pic.twitter.com/s3ibQGeW1r
A Unique Approach to Movement
What sets Sweat Economy apart is its innovative approach to reward physical activity through a unique passive reward system.
By harnessing the Sweatcoin application, users can validate their movements, effectively tokenizing their physical activity.
As a reward, users can mint $SWEAT, a token built on the NEAR Protocol. This places Sweat Economy as one of the largest Web3 on-ramps, with millions of existing Sweatcoin users transitioning to the Sweat Wallet.
The choice of the NEAR Protocol is strategic, given its secure and scalable sharding infrastructure, poised to onboard millions into the burgeoning Web3 movement economy.
Multi-Faceted Use of $SWEAT
Once within the Sweat Wallet ecosystem, users can mint $SWEAT through various physical activities.
Accumulated $SWEAT tokens can be used in several ways, from depositing them into “Growth Jars” for savings and multiplication to unlocking exclusive rewards within the ecosystem.
Users can also engage in the free-to-play Sweat Hero NFT game, providing additional opportunities to earn $SWEAT.
For added convenience, users have the option to purchase $SWEAT in-app using the MoonPay fiat on-ramp.
The platform’s adoption of $SWEAT has already made it the 9th most held and the 13th most actively used token in the world before this expansion, establishing its deflationary status.
Oleg Fomenko, co-founder of Sweat Economy, expressed his excitement about expanding into the United States and other markets.
He stated, “We aim to inspire a new wave of physical activity and incentivize individuals to lead healthier lives while paving the way for the next billion users looking to participate in the movement economy.”
Your physical activity has real value💸
— Sweat Еconomy 💧 (@SweatEconomy) October 18, 2023
Learn how we're making it easy to tokenize your physical activity and #walkintocrypto ⤵️ https://t.co/mEhVthjwA4
Bridging Fitness and Cryptocurrency
The Sweat Economy arrives as a transformative solution in a world where communities are seeking innovative ways to stay motivated and maintain a healthy lifestyle.
By combining fitness tracking with blockchain technology, Sweat Economy provides a fresh perspective.
It rewards users for physical activity, not only encouraging exercise but also building an engaged and like-minded community of fitness enthusiasts.
The original Sweatcoin app has already attracted over 140 million users, and post-download statistics show that users become 20% more active.
The app has 800+ brand partners, including major names like Adidas, Paramount, Fabletics, Amazon, and Garmin, offering exclusive discounts, offers, and free products in exchange for sweatcoins.
Furthermore, over 100 charitable organizations have benefited from Sweatcoin donations.
To join this thriving ecosystem and explore the intersection of health, fitness, and blockchain, interested individuals can download the Sweatcoin app and Sweat Wallet from the App Store or Google Play Store.
For more Web3 news, check out the XGA newsfeed.
