Table of contents
- What is Sweatcoin?
- Sweat Economy Features
- What is SWEAT token?
- Sweatcoin has real potential?
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1. What is Sweatcoin?
Sweatcoin is a free Move to Earn app that rewards players with SWEAT tokens based on the number of steps they take in a day. Through which they can use to buy products, do charity or trade crypto.
Sweatcoin connects to Google Fit, Apple Fit or the default fitness app on your mobile device to measure your daily steps. From there people can walk or jog in the gym or outdoors to be able to use Sweatcoin.
2. Sweat Economy Features
According to available sources, Sweat Economy will basically still have the basic features of the Sweatcoin app.
Daily 2x Boost
Every day players will be able to participate in the Daily 2x Boost challenge. This challenge allows users to pick a 20-minute period of the day when they are most active, taking the most steps.
During this time, users will get double the number of steps when the challenge ends.
Daily Rewards
Every day, Sweat coin will give you 3 rewards corresponding to 3 tasks per day:
- The first two tasks are to watch promotional videos to receive a gift. Each gift box will have a random reward from 0 to 1000 $SWEAT.
- The third quest is the “Walk 1,000 Stepn” quest. For every 1,000 steps you will get 0.95 $SWEAT. Up to a day players can get 9.6 $SWEAT corresponding to 10,000 steps.
Shop and Bid
To create more value to promote Move to Earn activities, Sweatcoin allows users to exchange SWEAT points for cash vouchers and other valuable gifts.
In the Marketplace of Sweatcoin there are two main sections:
- Shop: Users will use their SWEAT token to redeem discount vouchers when shopping for brands such as: Pay Pal, NetFlix, Adidas, Amazon, etc.
- Bid: Users can use Sweat to bid on valuable items that Sweat sets.
Donation
Charity campaigns such as Sweatcoin for Good to support charities carrying out events such as: Supporting children's mental health, Building a water well in Guinea,...
Sweatcoin has grown for a long time thanks to cooperation with more than 100 charities such as: Lonely Whale, Cancer Research, African Wildlife,...
In addition, Sweatcoin is an official partner of Save the Children International (SCI), commonly known as Save the Children. It is an international NGO promoting children's rights, providing relief and support to children in developing countries.
Users can join the campaign by donating SWEAT tokens to those charity campaigns.
3. What is SWEAT token?
SWEAT is Sweatcoin's new governance token built on the NEAR Blockchain. The SWEAT coin is used in the following activities:
- Pay for goods and services from great brands on the Sweatcoin app.
- Participate in charity campaigns.
- Make gas fees.
- Administration.
- Rewards for participating in Staking.
Basic information about SWEAT token
- Token Name: Sweatcoin
- Ticker: SWEAT
- Blockchain: NEAR
- Token Standard: NEAR
- Contract: Updating…
- Token Type: Utility & Governance.
- Total Supply: 22,000,000,000 SWEAT.
At TGE (Token Generation Event), all Sweatcoins previously earned by players will be converted into SWEAT tokens.
After TGE event, player can earn SWEAT token with first 5,000 steps and after 5,000 steps you will get Sweatcoin.
4. Sweatcoin has real potential?
With Sweatcoin there will be 3 opportunities for investors:
- SWEAT Token: Personally, I personally do not rate this token highly because the total supply of this project is quite large: 22 billion tokens accompanied by the fact that the Sweatcoins earned since 2018 can be converted into SWEAT tokens at the TGE event = > A sizable supply of SWEAT will come to market.
However, with this problem we need to consider a number of factors such as: Is the converted SWEAT token locked and amortized? What is the initial amount of tokens when TGE is to be able to give the correct valuation of this token.
NFT: The project has not announced the sale of NFT or not? However, if there is, we need to carefully consider the number and features of NFTs to be able to decide to invest.
Move to Earn: As mentioned above, currently although the current token has not been traded. But we can still earn Sweatcoins at the app and convert them into SWEAT Tokens at the TGE event. So now you can earn tokens for free and wait until after the TGE event to trade.
With the current information and what Sweatcoin has done before along with the famous KOLs in Crypto participating in the project, I am sure the project will spread very quickly in the near future. However, because of that, the opportunity will be less when the piece of cake is divided equally among many people.
