Sweat Economy, a Web3 project intended to unravel the financial potential of movement, is launching in the United States. On September 12, the one-year anniversary of the global launch of the project, the Sweat Wallet application and its native token, $SWEAT, will simultaneously be launched in the country. Since their Token Generation Event (TGE) in September 2022, Sweat Wallet has been constantly placed among the Top 10 Blockchain dApps on DappRadar.
Oleg Fomenko, Co-Founder of Sweat Economy, said: “It is a great pleasure to finally bring Sweat Wallet to the US market. Since last year, we have been inundated by requests from our US users, who have been desperate to… literally… walk into crypto. Although we wish we could have made this announcement last year – better late than never! It’s wonderful to announce the good news to our millions of US-based users now.”
The True Economy of Movement for Health and Wealth
Despite the fact that their Sweatcoin app (Web2) has been available in the U.S. market since 2016, rewarding millions of US customers with loyalty points (‘Sweatcoins’) for their steps, they were prevented from participating in the launches of the SWEAT token and the Sweat Wallet last year due to regulatory obstacles. As a result, users were unable to take part in the first Token Generation Event (TGE), receive their $SWEAT allocation, or begin generating $SWEAT by walking.
Sweat Wallet will be available for installation by U.S. citizens on September 12th, 2023. On this date, existing users of the Sweatcoin app will obtain their allocations of $SWEAT in accordance with their current Sweatcoin holdings. They will also be able to begin earning more tokens for their steps immediately after receiving these allocations. Sweat Economy has already established itself as the most popular financial app downloaded in more than 50 countries, and Oleg Fomenko is confident that it will have a significant impact in the United States as well.
Using the Sweat Wallet app, users have access to a crypto trading facility, tangible rewards, Learn and Earn, and they can even play an NFT game called Sweat Hero. All of these features are in addition to the ability to earn $SWEAT simply by walking. The development team has emphasized that the $SWEAT tokens needed for the long-awaited launch in the U.S. would not come from additional token emissions but rather from existing token allocations.
Sweat Economy, which was founded in 2015, is an initiative that encourages people to exercise more in order to live healthy lifestyles. Sweatcoin, which was the most downloaded health and fitness app worldwide in 2022, provides over 130 million users with an incentive to exercise more by allowing them to earn Sweatcoins, which are referred to as ‘Airmiles for steps.’ The app’s native currency can be exchanged for branded goods and digital services, or it can be given to a variety of charitable organizations.
The Sweat Wallet app and its accompanying cryptocurrency, $SWEAT, were both released by Sweat Economy last summer, with the intention of further rewarding users and establishing a tangible financial unit of value for movement. Tokens were distributed through airdrop to over 14 million different people, making it the greatest cryptocurrency giveaway in history. By tapping into the decentralized power of Web3, the company is well on its way to realizing its vision of establishing a movement-based economy at the intersection of health and wealth.
