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With over 13M+ wallets created in four months, the Sweat Wallet is the fastest growing DApp of all time. SWEAT powers the Sweat Wallet App, which is a new Web3 portal for millions of users. Demand for SWEAT comes from: 1) Utility – staking for rewards and yield (net deflationary), gamification, and platform token benefits and 2) Buy and burn, which is funded by Sweat Foundation revenue.
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What is Sweat Economy (SWEAT)?
Sweat Economy has already created the most popular Health & Fitness App globally of 2022 in Sweatcoin, a Web2 app with over 110,000,000 (110M) users. This has been used as a funnel to create the Sweat Wallet, a Web3 app powered by a new cryptocurrency – SWEAT. The new app already has 13,000,000 (13M+) wallets created.
With no initial investment, any user can download the app and literally ‘walk into crypto’. The Sweat Wallet can become the first crypto wallet for millions of users, which unlocks massive potential for revenue generation via advertizing and transaction fees on in-app features (purchasing crypto with fiat, crypto-crypto exchanges, NFT marketplaces, and more). This revenue will be used to buy and burn the token on the secondary market.
Token utility includes: staking for rewards and yield (net deflationary), dynamic NFTs & gamification, and unlocking new features in the app.
As for supply, SWEAT will become exponentially more difficult to mint in time (in one year it will be approx. 3x harder to mint). Circulating supply at the Token Generation Event is only 15% of the total created supply, and of this only 16% is with the community, meaning effectively only 2.4% of tokens are unlocked at TGE and not in the hands of the Foundation.
What makes Sweat Economy (SWEAT) unique?
- No upfront fee. With SWEAT, there is no payment required at all and demand for the token comes from a fundamental value.
- Revenue model. Most engage-2-earn projects rely on a circular revenue model: people buy the token to get an NFT, which helps them earn more of the token, which helps them upgrade the NFT etc. There is very little fundamental value in such a model. SWEAT revenue is driven by fundamental value.
- Value of utility. Access to amazing rewards people really want, along with fun games, and use as a platform token (discounts on trading and transaction fees, and access to NFT drops).
- Buy and burn. The revenue derives from established business models: user engagement and distribution (B2B) and transaction fees (B2C).
- Track record. The team behind Sweat Economy has successfully monetized user engagement since 2016 with Sweatcoin, their Web2 app which is the most popular Health & Fitness App of 2022.
- Largest Web2 to Web3 conversion ever. The Sweat Wallet will become the largest on-ramp into crypto. Anyone with a smartphone can literally walk into crypto.
- Long-term vision to create an open economy of movement. This is founded on the premise that movement has a fundamental value. Tokenizing movement enables SWEAT to be an expression of that value. This vision includes new Movement Validators to allow users to earn for gym work, cycling and swimming, and the creation of the Sweat DAO to allow users to monetize their movement data, and sell it to insurers and more.
What is Sweat Economy (SWEAT) roadmap?
Sweat Economy (SWEAT) revenue streams
How does Sweat Economy (SWEAT) work?
The Sweat Wallet will become the largest on-ramp in crypto; anyone, anywhere can literally walk into crypto. The product and ecosystem will continuously be developed to add value to our community and generate revenue to buy and burn SWEAT.
Product features include:
- Growth jar - Stake SWEAT to earn yields & to access the rewards club
- SWEAT rewards club - Redeem tangible offers like event/concert tickets, gift cards, NFTs
- NFT games that allow you to enter challenges with other users to compete for rewards.
- Coming soon: Fiat on-ramp – buy SWEAT and other cryptos with bank card
- Coming soon: crypto-crypto exchange
What is Sweat Economy (SWEAT) marketing strategy?
Sweat Economy's vision to make an open economy of movement began in 2016 with a Web2 app, Sweatcoin. Sweatcoin has since become the most popular Health & Fitness app of 2022, with 110M+ users. Now, Sweat Economy is leveraging its user base and experience to launch SWEAT, a cryptocurrency, which will power the Sweat Wallet app. In only four months, users have created 13M+ Sweat Wallets.
Which technologies does Sweat Economy (SWEAT) use?
The Sweat Wallet (non-custodial wallet) and SWEAT (token) are built on NEAR protocol, a leading PoS network that was certified as carbon-neutral in February 2021. They are developing a bridge to allow users to move SWEAT to ERC-20 and EVM compatible chains.
What are Sweat Economy (SWEAT) token utilities?