Who would have wondered that while walking you can also earn crypto tokens? Sweatcoin is an app that rewards its users with SWEAT coins when they take moves or take steps. Sweatcoin Foundation believes that by 2025 the world will be dealing with more than 1 billion obese people.
While the number is at large, obesity might become very common at a tender age too. As technology has risen to prominence, humans are becoming sedentary.
Sweatcoin wants to inspire people to move from their sedentary lifestyle and for this, they will pay you with SWEAT tokens. The encouraging foundation believes to create a social shift and empowering people to improvise their health. These SWEAT tokens can then be used to purchase in-app goods, donate to charity, and swapped with other crypto tokens. According to the latest news, the SWEAT token is ready to be launched by this summer on the app.
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What is a SWEAT token?
As per the organization’s Co-founder GoodAnton Derlyatka, for every 1,000 steps a user would take, he/she would earn 1 SWEAT token. Here, the new vision is to make a revolutionizing economy of wealth through health. Surely, the app can become a good medium for minting the tokens through steps.
The health app is backed by some eminent organizations of Web3.0 including Jump Crypto, OKX Blockdream Ventures, Spartan Capital, Electric Capital, and GSR. Also, some of the crypto founders like Do Kwon (Terra), Sandeep Nailwal (Polygon Matic), and Bjorn Wagner(Polkadot) are working together on the project.
While the app is purely built on Ethereum, the SWEAT token uses the NEAR Protocol blockchain. Through NEAR, the Sweatcoin app envisions achieving both sustainability and scalability. According to NEAR Foundation’s CEO, building SWEAT tokens on the NEAR blockchain, will reduce the carbon imprints and will allow people to take steps towards a sustainable future.
Currently, there are more than 63 million users with 20 trillion steps recorded on the app and 600+ brands who have partnered with the Sweatcoin app. By the end of Q4 of 2021, the brands collectively distributed $200 million worth of goods to the users.