Sweat Economy has announced that 140 million users have staked their SWEAT for rewards.
What Is Sweat Economy?
Sweat Economy is an ecosystem of solutions encouraging people to get healthy in exchange for crypto rewards (move-to-earn).
The economy revolves around users, apps, wearables, other devices, and SWEAT tokens. SWEAT tokens are on the NEAR blockchain, which is known for its sustainable, inexpensive, and speedy transactions.
It works by converting your steps into digital currency. When you download the Sweatcoin app, it starts to track every step you take outside using GPS. For every 1000 steps, you earn 1 SWEAT, although it will become harder to gain SWEAT over time. By 2032, you will only make 0.02 SWEAT per 1000 steps.
The Sweat Economy can give away crypto and offer rewards because it makes money through advertising and deals with third-party companies. Its online marketplace uses this revenue to provide monthly subscriptions to products and services or high-value electronics like TVs and laptops. These are available to buy with SWEAT.
Sweatcoin was the most downloaded health and exercise app in the world in 2022. Sweatcoin inspired people to move more and live a healthier lifestyle, transforming fitness from a nuisance to a pleasurable pastime.
Sweatcoin is unique because it is a proven fitness app partnered with established companies, including the NHS. It has proven to work as an incentive in peer-reviewed health studies.
SWEAT has value as long as the whole Sweatcoin app and infrastructure can earn revenue and offer rewards. The Sweatcoin app has reached the top download charts in more than 60 countries. Studies suggest it has boosted physical activity by more than 20% in those who download it.
How To Earn $SWEAT
If you’re using your mobile device as your tracker, ensure that you keep it in your pocket at all times, no matter where you go; track your steps and award you with $SWEAT or Sweatcoins in return.
Sweatcoin will track your steps as long as it runs in the background. The app will log your efforts if you don’t force-quit the app.
For every 1,000 steps, one $SWEAT enters your Sweat Wallet. It’s essential to note that the $SWEAT token gets increasingly more difficult to mint as time passes, so it will require more steps the next day to mint another $SWEAT.
You can also mint $SWEAT for the first 5,000 steps you take each day. The subsequent 5,000 steps you take will earn you Sweatcoins instead. $SWEAT tokens can be used for trading, while players can exchange Sweatcoins for rewards on the Sweatcoin app.
Daily Bonus Activities And Rewards
Sweatcoin offers three daily rewards where you can try your luck and win up to 1,000 Sweatcoins each time you claim them. Of course, it isn’t that easy, and most people usually claim to receive between 0.9 and 2 Sweatcoins. All you do is watch an advert, and you’ll see your wallet balance increase with Sweatcoins.
The broad range of rewards on offer reflects that SWEAT is a cryptocurrency that can appeal to everyone. Users access rewards by staking their SWEAT in Growth Jars. Generally, higher-value bonuses require a higher stake.
There is a mix of off-chain and on-chain rewards — Amazon gift cards, Sonos speakers, Macbooks, USDT, ETH, and NFTs. There are also very high-value rewards, including the BTC reward, the official Fifa World Cup packages (including five-star hotels and flights), and Coldplay concerts. Then there are higher volume rewards, such as $10 Amazon gift cards (3,000 distributed).
- Paras NFTs: 878
- Few and Far NFTs: 10,000
- $5 Amazon: 6,000
- $10 Amazon: 3,000
- $10 Adidas: 3,000
- $20 prepaid Visa: 1,500
- Macbooks: 15
- Airpods: 11
- Signed football jerseys: 6
- World Cup: 5 packs (10 tickets!)
- 1 ETH: 1
- Plan B conference: 10
Sweatcoin offers four ways to earn money:
- Ads: Users can earn some free tokens by watching a couple of the ads in the “Daily Rewards” area. Rewards range from 0 to 1000 $SWEAT and will be distributed at random.
- DeFi: Users of Sweatcoin can trade, swap, and stake $SWEAT tokens using the built-in wallet. A portion of the transaction fees is returned to the business.
- Premium edition: The $4.99 premium version offers limitless earning potential. Additionally, you gain access to NFTs, closed markets, and a variety of other things.
- Shop: You may purchase deals on goods like Adidas limited products through an integrated marketplace. Additionally, you can buy digital products such as online courses from Skillsuccess. In addition, users can utilize $SWEAT to place bids on expensive products that Sweat sets.