The Sweat Economy health and fitness platform is finally launching in the US to encourage exercise, amid growing awareness of Web3.
Emerging Decentralized Application (dApp) sweat economy plans to launch in the US this September. The arrival of the Web3 project and its native $SWEAT token in the United States will coincide with its global launch on September 12. As a dApp initiative designed to unlock the economic value of movement, Sweat Wallet has consistently ranked in DappRadar’s Top 10 Blockchain Dapps. This lofty ranking dates back to Sweat’s Token Generation Event (TGE) last September.
The 2022 launch of the SWEAT token and Sweat wallet caused the company to go on ice as a result of regulatory barriers. This disappointing development occurred despite the fact that the Sweatcoin (Web2) app has been on the US market since 2016. Since its launch, the app has rewarded countless users with loyalty points, called Sweatcoins, for their steps. However, due to regulatory barriers, the Sweat Wallet and SWEAT token were unable to participate in the original Token Generation Event (TGE). Additionally, the dApp was also unable to receive its $SWEAT allocation or start generating $SWEAT while walking.
In addition to earning SWEAT$ by walking, there are other perks available through the Sweat Wallet app as well. These include tangible rewards, a crypto training facility, Learn & Earn, as well as a non-fungible token (NFT) game called Sweat Hero.
US launch boosts popularity of platform among US users
However, the launch of the Sweat Economy on September 12, 2023 would allow installation of the Sweat Wallet among US residents. Additionally, existing users of the Sweatcoin app will receive their $SWEAT allocations in direct proportion to their current stake. in Sweatcoin. This development paves the way for such users to start earning more tokens for their steps immediately.
However, the Sweat Economy team noted that the $SWEAT tokens for the highly anticipated US launch will not be additional token issuances. Instead, these US tokens will be generated from already existing token allocations.
Commenting on the development of SWEAT in the US, Sweat Economy co-founder Oleg Fomenko said:
“It is a great pleasure to finally bring the Sweat Wallet to the US market. Since last year, we have been inundated with requests from our US users, who have been desperate to… literally… get into crypto. Although we would have liked to have made this announcement last year, better late than never! It’s wonderful to announce the good news to our millions of users in the US now.”
Fomenko expressed his faith in the potential for Sweat Economy to succeed in the United States due to its huge popularity elsewhere. As the co-founder said:
“I have no doubt that Sweat Economy will have a tremendous impact in the United States, as it has become the most downloaded financial app in more than 50 countries.”
sweat economy
Sweat Economy was created in 2015 to encourage healthier living by encouraging people to be more active. Sweatcoin was the most downloaded health and fitness app globally last year, with over 130 million users. The Sweat Company is one of many platforms leveraging the decentralized power of Web3 to achieve its agenda.
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Tolu is a Lagos-based blockchain and cryptocurrency enthusiast. He likes to demystify the crypto stories down to the basics so that anyone anywhere can understand them without too much prior knowledge. When he’s not up to his neck in crypto-stories, Tolu likes music, loves to sing, and is an avid movie buff.
