Sweatcoin is a highly popular mobile fitness app that was first launched in 2016. With over 110 million users worldwide, the app sets out to motivate healthier living by rewarding users for daily physical activity.

Users are rewarded with an in-app currency — Sweatcoin, a non-crypto virtual token which functions as a monetary incentive to reward users for their physical activity. Users can now convert Sweatcoin to SWEAT — the crypto token — to claim real world prizes and experiences. At the time of writing in September 2022, Sweatcoin is ranked first for the most downloaded health and fitness app in 58 countries.

Sweat Economy is the newly-launched web3 initiative of Sweatcoin. Within the Sweat Economy app, a crypto token, SWEAT and cryptocurrency wallet, Sweat Wallet are launched. Over 13 million wallets were created in four months since the launch. Further, Sweatcoin has raised $13 million in investor funding and is planning to hold a public token sale and strong hold offering on the DAO Maker launchpad.

Read: Move to Earn: Fad or The Future?

Oleg Fomenko is the co-founder of Sweat Economy. Fomenko is a Russian-born, London-based entrepreneur with experience at Coca Cola, Visa, PepsiCo and the Boston Consulting Group. Fomenko is also the founder and CEO of Bloom.fm, a mobile music streaming service that amassed over 1.2 million users by offering a deal of £1 per month for unlimited streaming. Shortly after Bloom.fm shut down, he began working on Sweat Economy.

Co-founder Anton Derlyatka holds an MBA from the London Business School and has also completed Executive Programs at Stanford Business School and US Berkeley. Prior to Sweat Economy, Derlyatka worked at a VC firm that specializes in fitness tech and held senior management roles at Reebok, Kearny and Pepsi.

Egor Khmelev is the CTO and co-founder of Sweat Economy. Khmelev is a developer and graduate of the Computer Science program at the University of London. Prior to Sweatcoin, Khmelev led several tech startups in Moscow.

Henry Child is the CCO of Sweat Economy. He began in traditional finance and worked at a hedge fund before transitioning into tech and crypto. He previously worked at the Deliveroo HQ and also held roles at Bitfinex and Tether.

The app aims to lower global carbon footprints by incentivizing physical activity to create a healthier and more active world. Sweatcoin pioneers a move-to-earn (M2E) style game, which is similar to a play-to-earn game, where users can earn monetary rewards for their participation. In this M2E game, users can actually earn crypto for being physically active in their day-to-day lives.

The team states that their app has increased their users’ physical activity by an average of 20% and has partnered with the NHS to help create a healthier society and reduce burdens on global healthcare systems. Moreover, though Sweat Economy states that they have never sold their users’ data, users will have the option to sell their movement data to healthcare companies.

STEPN has kickstarted the move-to-earn trend in early 2022 — with reportedly over 3 million users, it is the leading player in the M2E sector. While there are a wave of M2E incumbents joining the crypto space, Sweat Economy already has an existing application and global user base before launching a token and transitioning into a Web3 “lifestyle application”.

The Sweat Economy team has not placed a cap on the token supply because they hope to incentivize movement; the more steps people take, the more tokens they will issue. However, the team will implement exponentially decreasing inflation, such that each consecutive SWEAT will require more steps to mint.

Both the SWEAT token and Sweat Wallet are built on NEAR protocol, a layer-one blockchain running on the proof-of-stake (PoS) consensus mechanism. Validators need to stake a minimum seat price of 67,000 $NEAR, although the live seat price may differ. A maximum of 100 seats are allocated to validators to help secure the network.

SWEAT token will be launched Sept. 12, 2022.

The token has not yet launched at the time of writing, so it is unclear whether SWEAT can hit $1.

If you would like to know where to buy Sweat Economy at the current rate, the top cryptocurrency exchanges for trading in Sweat Economy stock are currntly OKX, Bybit, Bitfinex and Kucoin. You can find others listed on our crypto exchanges page.

The all-time high of SWEAT was 0.9998846 USD on 2022-09-13, from which the coin is now down 99.094234584171%. The all-time high price of Sweat Economy (SWEAT) is 0.9998846. The current price of SWEAT is down 99.094234584171% from its all-time high.

As of , there is currently 6.90Bn SWEAT in circulation. SWEAT has a maximum supply of 21.87Bn.

The current market cap of SWEAT is 62.46M. It is calculated by multiplying the current supply of SWEAT by its real-time market price of 0.009056608905.

The all-time low of SWEAT was 0 , from which the coin is now up 0%. The all-time low price of Sweat Economy (SWEAT) is 0. The current price of SWEAT is up 0% from its all-time low.

Sweat Economy (SWEAT) has a market capitalization of $62.46M and is ranked #565 on CoinMarketCap. The cryptocurrency market can be highly volatile, so be sure to do your own research (DYOR) and assess your risk tolerance. Additionally, analyze Sweat Economy (SWEAT) price trends and patterns to find the best time to purchase SWEAT.