The Sweat Economy health and fitness platform is finally ready for a US launch to incentivize exercise, amid growing Web3 awareness.
Emerging decentralized application (dApp) Sweat saving plans to launch in the US in September. The arrival of the Web3 project and its native token $SWEAT in America 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 high ranking dates back to Sweat’s Token Generation Event (TGE) last September.
The 2022 launch of the SWEAT token and the Sweat Wallet saw the company frozen due to regulatory hurdles. This disappointing development occurred despite the presence of the Sweatcoin (Web2) app in 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 hurdles, Sweat Wallet and the SWEAT token were unable to participate in the original Token Generation Event (TGE). Additionally, the dApp could also not receive its $SWEAT allocation or start generating $SWEAT while walking.
In addition to earning $SWEAT while walking, several other benefits are also available through the Sweat Wallet app. These include tangible rewards, a crypto training center, Learn & Earn, as well as a non-fungible token (NFT) game called Sweat Hero.
The United States launches the popularity of the platform among American users
However, the launch of the Sweat Economy on September 12, 2023 would allow the installation of Sweat Wallet among US residents. Additionally, existing Sweatcoin app users will receive their $SWEAT allocations in direct proportion to their current Sweatcoin stake. This development paves the way for these users to start earning more tokens for their steps immediately.
However, the Sweat Economy team emphasized 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 Sweat Wallet to the US market. Since last year, we have been inundated with requests from our US users, who were desperately…literally…to get 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 now to our millions of US-based users.
Fomenko expressed confidence in Sweat Economy’s potential for success in the United States due to its growing popularity elsewhere. As the co-founder says:
“I have no doubt that Sweat Economy will have a huge impact in the United States, having already become the most downloaded financial app in over 50 countries.”
Sweat Economy was created in 2015 to support healthier living by encouraging people to be more active. Sweatcoin was the most downloaded health and fitness app in the world last year, with over 130 million users. The Sweat company is one of the many platforms that harnesses the decentralized power of Web3 to achieve its agenda.
Tolu is a Lagos-based cryptocurrency and blockchain enthusiast. He likes to demystify crypto stories to the essentials so that anyone, anywhere can understand without too much background knowledge. When not immersed in crypto stories, Tolu loves music, likes to sing, and is a movie buff.