Many new projects are emerging in the move-to-earn space following the success of STEPN this year. One move-to-earn project has been around for some time however. Founded in 2015, Sweatcoin plans to hold their Token Generation Event (TGE) sometime this Summer. This Sweatcoin Guide examines the project in detail, including the notable charities they support and provides a Roadmap of their future growth path.
Sweatcoin introduction
Sweatcoin is a free Move to Earn (M2E) app that rewards players with SWEAT tokens based on how many steps they walk every day. They can use the tokens to buy products and services, donate money to charities or trade cryptocurrency.
Sweatcoin connects to Google Fit, Apple Fit or users mobile device’s default fitness program to track their daily steps. Players can then utilize Sweatcoin by walking or jogging at the gym or outdoors.
Outstanding Sweatcoin Features
What is the current business environment?
Sweatcoin currently has more than 90 million users from 30 countries registered to use to earn money and exercise both on iOS and Android. Sweatcoin is also rated well, with a 4.5 rating on both app store platforms
Currently, the project is continuing to negotiate with other local and national governments according to the needs of users, to share Sweatcoin’s vision of a more dynamic, healthier society.
In addition, Sweatcoin is also working with healthcare providers and insurance companies around the world, to create an even greater impetus for people to move more, exercise and get stronger.
Users can use the SWEAT points earned from their training and exercise activity to exchange them for cash value vouchers which can be transferred to PayPal or Amazon accounts and other shopping destinations.
Alternatively, players will be able to use their SWEAT points to receive the equivalent of SWEAT tokens when the platform is successfully launched on the NEAR blockchain, following the TGE this Summer.
Sweatcoin can work without mobile data because it can update data and keep up with users previous steps when they enter an area with Wi-Fi.
The application works through the “step counting” function available on the phone, smartwatch, and GPS navigation function.
What is the USP?
Daily 20 minute 2x Boost challenge
Each day, players will be able to take part in the 2x Daily Boost challenge. This challenge allows users to choose the 20 minute period during the day when they move the most to get the most steps.
During this time, users will get double the number of steps when the challenge ends.
Daily Rewards
Every day, Sweatcoin will give players 3 rewards corresponding to 3 tasks per day:
- The first and second tasks are to watch promotional videos to receive a gift. Each gift box will have a random reward from 0 to 1000 SWEAT.
- The third task is the “Walk 1,000 Steps” quest. For every 1,000 steps taken, users will receive 0.95 SWEAT. Up to a day players can get 9.6 SWEAT corresponding to 10,000 steps.
Shop and Bid on major brands
Sweatcoin has partnered with many other brands so users can have more choices for using their SWEAT points for Shop and Bid.
Shop: Users pay SWEAT points that they collect to exchange for vouchers including cash value and other valid vouchers of brands such as Pay Pal, NetFlix, Adidas and Amazon. There will also be a random voucher for an airplane supported trip.
Bid: Players use the SWEAT points they collect to participate in the auction of random items that Sweatcoin sets.
Sweatcoin supports many Charities, encourages users to join in
Sweatcoin for Good (S4G) supports campaigns carrying out worthy causes such as: Help Restore 250 Water Wells in Africa and Create a Sustainable Future for our Seas.
Sweatcoin has grown over the years thanks to cooperation with more than 100 charities such as Lonely Whale, Cancer Research UK and the African Wildlife Foundation.
In addition, Sweatcoin is an official partner of Save the Children International (SCI), commonly known as Save the Children. It is an international nonprofit organization that promotes children’s rights and provides relief and support to children in developing countries.
Users can join the effort by donating SWEAT tokens to those charity campaigns.
Roadmap
Sweatcoin Technical Data
Token Metrics
- Token Name: Sweatcoin.
- Ticker: SWEAT.
- Blockchain: NEAR.
- Token Standard: NEP-141.
- Token Type: Utility & Governance.
To update the price of SWEAT Token on Coincu.com, CLICK HERE.
At the Token Generation Event (Summer 2022), all Sweatcoins previously earned by players will be converted into SWEAT tokens, with 1 Sweatcoin equaling 1 SWEAT.
After the TGE, players will create SWEAT with their first 5,000 steps, and earn Sweatcoin for the next 5,000. At this stage, users will not be able to exchange the Sweatcoins they have earned in the extra 5,000 steps a day with SWEAT. At some point, an exchange will be available.
Moreover, players can now create a SWEAT with 1,000 steps. However, after the Token Generation Event, each SWEAT will require more movement.
Token Allocation
Token Release Schedule
Token Use Cases
Currently, the number of SWEAT points that users collect on the application, will be used to convert into SWEAT tokens when the TGE event takes place.
SWEAT token is the project’s Utility token and is used in the following cases:
- Pay for goods and services from major brands on the Sweatcoin app.
- Participate in charity campaigns.
- Tiered minting limits. Users who stake/accumulate more SWEAT will have higher minting limits.
- Governance
- Rewards for participating in Staking and hold
Market and Community
Community
Backers
Team
Sweatcoin has a big team from all over the world — UK, Russia, Azerbaijan, China, South Africa, France, Kazakhstan, Belarus, Poland, Romania, Spain, Italy, Greece, Turkey, Netherlands and the Philippines. Moreover they speak 22 languages: English, Russian, Azerbaijan, Belarusian, Cantonese, Dutch, French, German, Greek, Hebrew, Indonesian, Italian, Kazakh, Mandarin, Pakistani, Polish, Portuguese, Romanian, Spanish, Tagalog, Turkish and Urdu.
Investors
Summary
Sweatcoin is an established Move to Earn app with many practical applications. The Token Generation event later this year will increase their brand awareness and exposure. Sweatcoin’s purpose is not only to help people get healthier by exercising more, but also to contribute to society through meaningful activities by donating to worthy charity programs as well as encouraging their users to do the same. It is hoped that with the combination with the NEAR platform, Sweatcoin will be able to bring the benefits of the blockchain to more people.
Find more information about Sweatcoin here:
Website: https://sweatco.in/
Whitepaper: https://drive.google.com/file/d/1IPklRcEQvgJkCaeYvGh43yjWl-Dj5_6i/view
Twitter: https://twitter.com/sweatcoin
Facebook: https://www.facebook.com/sweatcoin
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