Recently, Move-to-Earn projects have gained incredible popularity among users. And this is not surprising because they help not only to monitor users’ physical health but also to make a profit from performing simple physical activities. Thus, the user kills two birds with one stone — becomes healthy and wealthy. Nevertheless, such a popular app as STEPN has become so hyped that the entry threshold for ordinary users becomes extortionate. Fortunately, more and more move2earn apps flooded the market. Some of them are absolutely free, such as the Sweatcoin project, which we will talk about today.
What Is a Sweatcoin?
Sweatcoin is a web3 app similar to a pedometer, with only one huge difference — it rewards users for steps. The Sweatcoin project is based on the innovative NEAR blockchain, distinguished by its speed, low fees, and eco-friendliness. The app has become insanely popular among residents of many countries. Now Sweatcoin is in active use among more than 75 million users. The developers set themselves an ambitious goal. Sweatcoin should become not just another move2earn project but a wellness initiative that will help improve various public spheres. So, the project team presented its detailed vision of how the Sweatcoin project can boost such areas as health care, mental health, environmental pollution, insurance, and even government issues.
This vision and idea inspired many world-renowned companies to become Sweatcoin’s partners. At the moment, Sweatcoin has such influential partners as Spartan, Electric Capital, Sandeep Nailwal, Do Kwan, and others.
Moreover, Sweatcoin launched the charity initiative “Sweatcoin for Good” (S4G). At the moment, S4G works with more than 100 charitable organizations specializing in various fields. The list of supported charities has already included such famous names as Save The Children, African Wildlife Foundation, NAACP, etc.
How Does Sweatcoin Work?
To start earning for movement, but most importantly, to become healthier, you just need to download the Sweatcoin app, register an account, and create your own SWEAT Wallet. Although the list of eligible countries is quite extensive, it still has some limitations.
At the moment, the official token of the Sweatcoin project has not yet been launched, and users receive “sweatcoin” points for movement. For every 1,000 steps, the user is rewarded with one sweatcoin. In total, ten sweatcoins can be earned per day. In simple words, the developers, following the norms of the World Health Association, have set a limit of 10,000 steps per day — you can overcome this distance either by walking or running.
Earned points can be tracked in the app’s internal wallet. Over time, the coins can be converted into SWEAT tokens (more on this later). In addition, in collaboration with hundreds of well-known brands, the project team has launched a marketplace where users can spend their sweatcoins on goods or services. For example, for sweatcoins you can buy sportswear and equipment from brands such as Reebok, Adidas, Pursue Fitness, etc. You can also purchase training courses, certificates, or subscriptions (for example, Amazon Prime).
The SWEAT token airdrop will take place this summer. It is called the Token Generation Event (TGE). Registered users can claim their sweatcoin balances to participate in the airdrop. Each sweatcoin will be equal to one SWEAT at the time of TGE. Next, the minting of SWEAT tokens will take place directly by movements. Early adopters benefit significantly from the 1:1 ratio, as the protocol further establishes an increased complexity of minting. So, after TGE, users will need to make 5,000 steps to earn 1 SWEAT.
The SWEAT token will not have a limit on the maximum supply. However, the built-in minting complication mechanism serves as a reasonable basis for inflation prevention. In addition, the SWEAT token will have the following use cases:
- increasing the minting limits;
- premium subscription.
How Much Can I Earn?
Sweatcoin has implemented a specially developed Step Verification Algorithm that allows it to exclude deceptive actions, so do not try to tie your smartphone to a dog or other pet. At the moment, as we have already described above, the user earns one sweatcoin for 1,000 completed steps. At TGE, you will receive the number of SWEAT tokens based on your sweatcoin balance. Unfortunately, the price of SWEAT tokens is still unknown. Nevertheless, given the popularity of the project, a strong development team, and the support of more than 600 partners, users can count on a good profit.
In addition, users have the opportunity to increase profits:
- Daily 2x Boost — it can be launched once per day, advisably when you are most active, for example, on a jog. You receive a double reward for movement for 20 minutes in this mode.
- Daily Rewards — you can watch ads and earn sweatcoins. Three ads are available per day.
- Referral Program — you can invite friends to join via your affiliate link. For each referer, you are rewarded with five sweatcoins.
- Premium Subscription is a paid feature that doubles rewards on an ongoing basis.
Does Sweatcoin Have a Future?
Obviously, yes. The Sweatcoin project deserves attention and participation. At least you will not lose anything, but most likely, you will get a healthy body and free tokens. The project looks very tempting against the background of competitors, especially at this time when users first need to invest a lot of money to participate in other move2earn projects. Sweatcoin has a solid development team and support from global brands. A significant plus is that users can buy branded products for steps. With the internal SWEAT token launch, the project will become an even stronger rival for the well-known move2earn apps.