The creators of the most popular fitness app Sweatcoin, Sweat Economy, will debut their new Sweat Wallet product alongside a Web3 token sale for SWEAT, their new cryptocurrency, on DAO Maker’s launchpad. Sweatcoin, which debuted in 2016, is now the health and fitness app that has received the most downloads in 2022. It has held the position of the most downloaded app overall in 58 different countries. Sweatcoin has over 110 million members worldwide.
Sweatcoins are the app’s version of a native loyalty currency, and they serve as an incentive for users of the Web2 app to be more physically active. Users are rewarded with sweatcoins based on the number of steps they take each day. These sweatcoins may be redeemed for special gifts from partners as well as open access to unique competitions, freebies, and games. Sweatcoin users exchanged their sweatcoins for nearly $70 million worth of services and products during the first quarter of 2022.
DAO Maker is the top crowdfunding platform for tokenized startups, with over 500,000 users, over 100 financed projects, and estimated optimal efficiency of 4,000% for projects launching in the second quarter of 2022. Its launch procedure is compliant, easy, and quick, which ensures the end-user’s safety while allowing the process to be finished in a matter of minutes.
Fueling Open Economy Of Movement With New Web3 Product
Sweatcoin’s tried-and-true and lucrative economic model will be pushed into the realm of Web3 with the debut of Sweat Economy’s new Web3 product, Sweat Wallet, coupled with a fresh new cryptocurrency called SWEAT. This will cause a significant increase in the value that the app ascribes to movement. Within the ecosystem of the Sweat Economy, SWEAT will emerge as the new currency of the realm, providing the fuel for the entire open economy of movement. In addition, this year will see the debut of SWEAT, along with the Sweat Wallet App that will accompany it. A Token Generation Event is slated to take place on September 13 at 12:00 pm UTC.
Holders will have the ability to stake their SWEAT within their Sweat Wallet in order to win access to upgraded in-app features, exclusive NFTs and games, and attractive yield, among other fantastic benefits. The Sweat Wallet application will enable users to store, send, and receive SWEAT tokens. Its product roadmap includes a series of features that will turn the app into a Web3 portal. These features include a fiat gateway that will allow users to acquire SWEAT and other cryptocurrencies, crypto-to-crypto exchanges, integration with NFT marketplaces, and much more.
According to Oleg Fomenko, co-founder at Sweat Economy, “We have been planning the launch of SWEAT since 2016 when we first thought about creating currency out of the movement. We are delighted the day is finally here, yet we know that the launch is just the beginning. We cannot wait to keep building a product people love, to expand and develop a truly open economy of movement, and thereby inspire everyone around the globe to move more.”
Becoming The Largest On-Ramp Of Web2 To Web3 Users In History
Sweat Economy was founded in 2015 with the objective of promoting healthier lifestyles by motivating individuals to move more. Sweatcoin is presently the most downloaded Health and Fitness app in the world, used by over 110 million people to incentivize their daily actions. The Web2 app awards “sweatcoins” that can be redeemed for branded merchandise, digital services, and charitable contributions. Sweat Economy is currently focusing on making use of Web3’s numerous chances to provide its customers with even greater rewards.
DAO Maker is revolutionizing venture finance for the masses, becoming the go-to retail platform for both equities and tokens. Launched in 2017, the DAO Maker ecosystem has quickly expanded to more than 500,000 users, hosting profitable IDOs/SHOs that have resulted in the funding of over 100 projects. The ultimate objective of DAO Maker is to revolutionize the way personal finance is handled by dismantling established barriers and ushering in an unprecedented number of new regular investors into the financial markets.
At the time of launch, users of Sweatcoin will be entitled to receive one SWEAT in exchange for each sweatcoin they already own while still keeping their sweatcoins in their original form. This means that there is no barrier to entry, making it possible for anybody to start minting SWEAT with their steps despite the fact that there is no required investment. This mechanism has the potential to make Sweat Wallet the most popular gateway for Web2 to Web3 users in history.
According to Hatu Sheikh, CSO, and CMO at DAO Maker, “The selection criteria is rigorous, with a focus on high potential projects or startups with a strong, established user base. Sweat Economy has one of the highest user tractions ever among tokenized products. This gives it a brilliant fit for DAO Maker launch criteria.”
More than 12 million users have already chosen to participate in the SWEAT distribution, which is scheduled to take place on the DAO Maker launchpad at 12:00 UTC on September 2nd.
