• Sweat Economy is a Web3 project that seeks to unlock the economic value of movement.
• It operates a Web2 application called Sweatcoin app which rewards millions of US users with loyalty points called ‚Sweatcoins‘ for the steps they make when walking.
• The venture is set to re-launch its SWEAT token and Sweat Wallet after a previous launch was frozen, allowing US customers to receive their $SWEAT allocations and start generating new $SWEAT tokens by walking.
Sweat Economy Launching SWEAT Token & Web3 Wallet in US
Sweat Economy, a Web3 project seeking to unlock the economic value of movement, is planning to re-launch its Sweat Wallet application and its native token, SWEAT, in the United States later this year. The launch is scheduled to coincide with the first anniversary of the venture’s global launch on September 12.
Web2 Application – Sweatcoin App
The Sweat Economy platform operates a Web2 application called Sweatcoin app which has been available in the US market since 2016. The app rewards millions of US users with loyalty points called ‚Sweatcoins‘ for the steps they make when walking. Last year in September, Sweat Economy launched its native token called SWEAT alongside its Web3 wallet application but it failed to pass regulatory barriers in the US leaving American customers unable to receive their $SWEAT allocations or start generating new $SWEAT tokens by walking.
Distributing SWEAT Tokens To US Users
Starting on September 12th 2023, US Sweatcoin app users will receive their allocations of SWEAT in proportion to their current ‚Sweatcoin‘ holdings and can start earning more SWEAT tokens for their steps right away. Tokens will not come from additional token emissions but from existing token allocations.
Commenting on this new development, Founder Oleg Fomenko said: “It is a great pleasure to finally be able bring our technology and products back home where it all started for us 4 years ago”.
This move by Sweat Economy will not only benefit existing customers but also open up opportunities for new customer acquisition as well as provide another income stream for people looking for alternative ways of earning money through physical activity such as walking or running.