Sweat Economy(SWEAT)

Jump into the thrilling move-to-earn crypto race with Step App (FITFI), STEPN (GMT), and Sweat Economy (SWEAT). These innovators are on a mission to double their value, merging fitness with finance in an exciting way. Our analysis zooms into their market performance, highlighting unique strengths and potential to lead. Will the robust economy FITFI, unique rewards of GMT, or growing user base of SWEAT take the front seat? Stay ahead in this fast-paced crypto chase with our insights, and gear up to navigate the twists and turns of these emerging digital giants.

Dive into the dynamic world of the move-to-earn sector as we examine the November surge in the crypto market and its impact on Step App (FITFI), STEPN (GMT), and Sweat Economy (SWEAT). Our in-depth analysis unpacks their recent performance, highlighting how each contender is gearing up for the potential Christmas rally. With a blend of technical insights and market trends, our review offers a nuanced perspective on who might lead this festive season's race in the M2E landscape. Stay informed and navigate the complexities of this exciting and evolving sector with our expert analysis, guiding you through potential ups and downs in this vibrant crypto environment.

Popular walk-and-earn platform Sweat Economy has unveiled its latest initiative, Sweat Hero, this Wednesday. The hyper-casual community-based NFT game allows players to compete against friends on the Sweat Wallet mobile app, which uses data from other apps on your smartphone or smartwatch to monitor your physical activity. The game is created based on sustainable token economics, aiming to enhance the overall competition levels and maintain a thriving gaming ecosystem. Sweat Hero introduces a unique approach to how gaming works. In contrast to the “pay-to-play” models adopted by legacy games, Sweat Hero offers new players a free non-fungible token (NFT) to start the game - basically, paying the users to play. Users connect with each other via the Sweat Wallet app and battle against each other to upgrade their NFTs or win $SWEAT token rewards. Offering a free-to-play model also contrasts with most of the move-to-earn games today. Sweat Hero revolutionizes this industry by creating a sustainable tokenomics (token economics) model that doesn’t involve asking players to purchase NFTs worth hundreds of dollars before playing. Many of these NFT games and M2E platforms sustain their economy by expecting new users to join and purchase an NFT. Additionally, the teams may limit the number of NFTs to induce artificial scarcity and potentially increase their value, preventing some players from ever getting their hands on them. On the contrary, Sweat Hero launches a “token sink model” that solves these problems and increases the economic viability of the game’s ecosystem. The token sink system works by retaining 20% of the total battle wager as a battle fee, with 80% of the wager going to the winner. The battle fee is sent to Sweat Wallet’s token sink and burned to reduce the total number of circulating $SWEAT tokens. As more people join the battle, more tokens will be burned, meaning there will be fewer idle and liquid tokens in the ecosystem. "We're leaving behind the times of scarcity in the NFT space and breaking the old standard of 'pay to play' in the M2E gaming space,” Oleg Fomenko, Co-founder of Sweat Economy, shared. “With Sweat Hero, millions of people can engage with free NFTs, and the more players we have, the more $SWEAT goes into the token sink, making token economics sustainable." As players win battles and challenges by increasing their daily steps, they will enhance their NFT Power, giving them an in-game advantage. These NFTs are dynamic and will evolve based on users' gameplay progression, physical activities, and engagement within the Sweat Wallet app. Apart from rewards and earnings in the game, the gamification of physical activity on Sweat Hero makes exercising more fun and motivates users to follow their daily exercise routines. These factors can have an overarching effect on the overall health of the users by motivating users to walk more, creating a daily habit and driving engagement through battles with friends. The future upgrades on Sweat Wallet will introduce seven Arenas that players can level up into to secure a higher earning potential and a new dynamic NFT evolvement framework expected to launch in Q4 this year. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

The move-to-earn platform had 2 billion $SWEAT tokens locked up in inactive user accounts which the community has voted to be returned to a governance contract.

The 2 billion SWEAT tokens, which accounted for nearly 13% of the total supply, are currently locked up in a 24-month contract in inactive user accounts.

The 2.5 billion SWEAT tokens, which constitute around 13% of the total supply, were allocated to users at the app's conception last September.

London, United Kingdom, June 7th, 2023, ChainwireSweat Economy, the pioneering move-to-earn project, is launching a new governance vote today in the Sweat Wallet application, letting the community decide the fate of 2 billion idle SWEAT tokens in inactive user accounts.The 2 billion SWEAT tokens, constituting ~13% of the total supply, are currently locked up in a 24-month contract in inactive user accounts.After the successful Token Generation Event last September, a considerable number of users, despite repeated prompts, have yet to activate the Sweat Wallet application and claim their tokens.The new governance vote aims to resolve the lingering question: what should be done with these idle tokens? Sweat Economy now allows token holders to participate directly in the decision-making process, exercising the principle of one person, one vote, thereby democratizing the token's future.Users can either vote in favor of having the 2 billion idle SWEAT tokens recovered and transferred back to the Sweat Treasury for potential future distribution (or other uses as decided by subsequent votes), or users can vote in favor of leaving these tokens in inactive user accounts.A minimum of 75,000 votes is required for the proposal to be accepted or denied, and in order to ensure everyone has a fair opportunity to make their vote count, the proposal will run for at least seven days, with the possibility of a three-day extension, in the event of an ongoing influx of votes.This new governance vote is notable because of the vast volume of SWEAT tokens at stake and the deepening commitment of Sweat Economy to community-centric decision-making. The platform is determined to ensure all voices are heard, regardless of the size of their SWEAT holdings. This intention resonates well with the community, as highlighted by user feedback:“Thanks for letting the community know before the vote is live. Much better for transparency.”“It’s a good proposal! I can’t wait to see what they propose to do with over 2 billion $SWEAT!”The previous vote attracted a whopping 153,783 participants, and Sweat Economy is optimistic about seeing even higher engagement numbers this time, given the magnitude of SWEAT tokens involved.This milestone event strengthens Sweat Economy's mission to create a more inclusive, transparent, and democratized ecosystem, continuing to foster strong community involvement and influence over pivotal decisions.About Sweat EconomyEstablished in 2015, Sweat Economy promotes healthier living by encouraging people to move more. Sweatcoin, the most downloaded health and fitness app globally in 2022, incentivizes over 130 million users to move more by earning sweatcoins, dubbed 'Airmiles for steps.' The in-app currency can be redeemed for branded products, digital services, or donated to various charities. Last summer, Sweat Economy launched the Sweat Wallet app and its cryptocurrency, $SWEAT, to further reward users and establish a tangible financial unit of value for movement. Over 14 million users received airdropped tokens, constituting the largest crypto giveaway ever. By harnessing the decentralized power of Web3, the company is well on its way to creating a true economy of movement where health and wealth intersect.Start earning crypto for your steps by following this link. To learn more about Sweat Economy, visit our website. For the latest news, follow us on Twitter, Discord, Telegram, and Reddit.ContactSuki [email protected]

A new governance proposal could see the burning of 100 million SWEAT tokens.

The move-to-earn project aims to introduce what it says is a fairer system ahead of a vote to guide the protocol's spending of 100 million SWEAT tokens.

London, England, April 3rd, 2023, ChainwireSweat Economy, the biggest move-2-earn project globally on a mission to make the world more physically active, is offering users the chance to win the role* of ‘Chief Walking Officer’, complete with a year’s salary to the value of USD 24,000.The job specification contains on main requirement: to walk a minimum of 5000 steps per day.The role will effectively be ‘won’ via a prize draw. Any Sweat Wallet app user can opt into the prize draw with 25 $SWEAT tokens and 1 $SWEAT as a fee from April 3 to April 16, 2023.. The lucky winner of USDT 2000 monthly must walk a minimum of 5000 steps per day over the next 12 months and will become the brand’s ‘Chief Walking Officer’ - a title they’re free to use on their CV or LinkedIn (custom business cards optional).Such a generous reward follows in the footsteps of a number of other high-value rewards for SWEAT holders which rotate regularly within the app - from a Tesla to laptops, Apple Watches, sporting event and concert tickets and 10s of 1000s of dollars of retail vouchers.The Sweat Economy team will conduct a randomized draw on a livestream on April 17 to announce the winner.Sweat Economy’s mission is to create an Open Economy of Movement and make the world more physically active. Since its inception of the Sweatcoin web2 app, the company has garnered 140M+ users worldwide and 15M+ $SWEAT token holders with their expansion intoWeb3 at their token generation event in Sep 2022.For more information and how to participate, please visit the website here and download the Sweat Wallet mobile application for Android or iOS.About Sweat EconomyEstablished in 2015, Sweat Economy promotes healthier living by encouraging people to move more. Over 100M users rely on Sweatcoin to incentivize their daily movement with the app currently the most downloaded Health and Fitness app in the world. The Web2 app awards ‘sweatcoins,’ dubbed “Airmiles for steps” that can be redeemed for branded products, digital services and charitable donations.Sweat Economy is now focused on leveraging Web3’s many opportunities to bring its users even more rewards.Start earning crypto for your steps by following this link. To learn more about Sweat Economy, visit our website. For the latest news, follow us on Twitter, Discord, Telegram, and Reddit.*This is not an offer of employment. T&Cs apply.ContactTal [email protected]