• Sweat Economy is a web3 project aiming to unlock the economic value of movement, launching its Web3 wallet application and native SWEAT token in the US later this year.
• The Sweat Wallet app has been available in the US since 2016 and rewards millions of users with loyalty points called ‚Sweatcoins‘ for walking.
• Starting on September 12th, US Sweatcoin app users will receive their allocations of SWEAT tokens in proportion to their current ‘Sweatcoin’ holdings and can start earning more tokens for their steps.
Sweat Economy Set To Launch in US
Sweat Economy, a Web3 project seeking to unlock the economic value of movement, is planning to re-launch its Sweat Wallet application and its native token, SWEAT, in the United States later this year. The launch is scheduled to coincide with the first anniversary of the venture’s global launch on September 12.
About Sweat Wallet
The Sweat Wallet operates a Web2 application called Sweatcoin app which has been available in the US market since 2016. The app rewards millions of US users with loyalty points called ‚Sweatcoins‘ for the steps they make when walking. Last year in September, Sweat Economy launched its native token called SWEAT alongside its Web3 wallet application but it failed to pass the regulatory barriers in the US at that time.
SWEAT Tokens Distribution
Starting on September 12th 2023, US customers will be able to install the Sweatt wallet application and receive their allocations of SWEAT tokens according to their current ‚Sweatcoin‘ holdings and can start earning more tokens by walking from that date onwards. The team emphasized that these tokens will not come from additional emissions but from existing token allocations.
Founder Comments
Commenting on this new development Founder Oleg Fomenko said: „It is a great pleasure to finally be able bring our vision of unlocking economic value through physical activity into America.“
Conclusion
The launch of SWEAT tokens and Sweatt Wallet app signifies an important milestone for cryptocurrency projects as it continues to grow mainstream adoption among investors globally especially within regulated markets like America where people are now able capitalize off physical activities like walking.
