Would You Exercise To Earn Crypto? Sweatcoin Might Be For You!

In the last few years, it seems that more and more people have understood the value of being physically fit for their health. The pandemic has certainly changed our relationship with health and exercise, particularly amongst the older generations. Somewhat differently, we’ve also seen the frantic obsession, adoption and utility of crypto, with well over 1 billion searches for ‘cryptocurrency’ in the UK and USA on online engines. But what’s the link? 

Sweatcoin, a London-based tech company, is on a mission to inspire a healthier planet by motivating people to move more by launching SWEAT: the token to convert physical movement into crypto. Sweatcoin’s ongoing mission is to launch a global currency based on the value of steps and movement. The 63+ million Sweatcoin users, who’ve walked over 20 trillion steps together, will have the opportunity to have their in-app sweatcoins matched 1:1 with SWEAT tokens at a token generation event (TGE) timed for this summer. This will be one of the biggest onboarding of people into crypto in history. 

There are concerns from many experts that we are ontrack for an obesity crisis. Recent global estimates expect that no country will hit the World Health Organisation’s (WHO) target to stop obesity by 2025. Instead, the problem will only worsen as cases of obesity are expected to double by 2030, despite more than 1 billion people worldwide already being classified as clinically obese. The longest race anybody will run is with themselves, and the length of that race is dependent on a crucial factor – health. Sweatcoin’s innovative model has been developed to radically incentivise this most important part of life. In creating the world’s first crypto token earnt through walking, Sweatcoin is pioneering a societal shift by empowering people to improve their health, and get paid for it, with users walking an average of 20% more when using the app.

How Does The Token Work?

• SWEAT will be minted purely by the number of steps a user has taken via the Sweatcoin app. 
• SWEAT will be issued by the Sweat Foundation, a BVI headquartered crypto entity and Sweatcoin’s partner in launching the Sweat Economy, after the Token Generation Event (TGE) scheduled for this northern hemisphere summer. This makes now an opportune time for new and existing users to earn as many sweatcoins as possible in order to take advantage of this  opportunity.
• Following the TGE, each individual SWEAT earned will be harder to mint than the previous one. This may sound annoying at first, however it means your steps today are more valuable than your steps tomorrow, ultimately motivating people to move sooner rather than later; reinforcing Sweatcoin’s vision and encouraging users to experience the financial and physical benefits of exercise movement.
• SWEAT will be built on Ethereum and use the eco-friendly NEAR as the blockchain for its token, and the Near Foundation is investing in the project. This is incredibly secure, infinitely scalable and will be a unique showcase of a blockchain working at scale without fuss.
• Each SWEAT user will be given a Sweat Wallet which will generate fees by enabling a suite of DeFi functions, such as the exchange of SWEAT into other crypto, liquidity provision and staking.

“We’re turning movement into a valuable, recognisable currency with SWEAT: the token, and for those that are new to the space, it’s a little-to-no-financial-risk option to get on board and gain access to an asset that’s becoming increasingly harder to mint, helping us to achieve the mission of making the world more physically active by unlocking the value of movement,” said Oleg Fomenko, Co Founder at Sweatcoin. 

A truly inspiring vision, I must say!