- New move-to-earn project is to be launched on NEAR blockchain
- Developers expect to attract 1 billion users
- Project token corrected from historical highs
SWEAT’s move-to-earn mobile app is already one of the most downloaded in some countries
Paying people to use your service or app is almost the norm in the cryptocurrency industry. STEPN is the flagship of the Move-to-Earn industry and a promoter of this direction. Others followed him.
The SWEAT app exploded on the top charts just two weeks after the launch. The developers are already positioning their product as the “killer” of the STEPN project, in which people are also paid money for physical activity.
The free move-to-earn (move-to-earn) blockchain platform was launched as web2app in 2016. For every 1000 steps, users received one Sweatcoin. The reward could be exchanged for digital products and even cash.
According to the project’s developers, they set out to make the world healthier. Now they are moving their product to the blockchain. The service will operate based on the NEAR protocol.
Sweat And Get Rich
The native token of the Sweatcoin ecosystem is SWEAT. It can be earned by doing physical exercises. As before, users receive one SWEAT for every 1000 steps.
SWEAT can be obtained for any physical activity, but no more than five daily tokens. Over time, the token issuance will become more complex, meaning users will have to move more to earn SWEAT. The maximum amount of SWEAT issuance is 21 million tokens. They will be released into circulation by September 2026.
Sweatcoin has already given away 4.7 billion SWEAT. Airdrop received 13.5 million wallets.
Big Plans
SWEAT developers have many ideas and ambitions for their projects. They are going to release NFT to give users more earning opportunities.
In addition, they plan to create a DAO (Decentralized Autonomous Organization), a referral program, a crypto exchange, and an NFT marketplace. They do not even rule out that their token will be used as gas for the entire ecosystem.
Users Liked: Sweatcoin and Sweat Wallet ranked top in downloads in some countries and categories. However, the Sweatcoin and Wallet applications are unavailable in the Russian App Store.
Cutthroat Competition
SWEAT price peaked on September 14 at $0.091476. The token is trading in the $0.0319 area at press time, 65% below its all-time high. Despite the correction, the token is still 340% higher than at launch.
New to the move-to-earn space, SWEAT competes with powerful competitors like STEPN, which already has over 4 million users in 200+ countries.
STEPN recently celebrated its first birthday and has established itself as a leader in the industry.
Despite the popularity of the project, ecosystem tokens have been steadily declining lately, which calls into question the reliability of the tokenomics and business model. GST, the native token of STEPN, has lost over 80% from all-time highs. The peak was reached on April 28, 2022, at $4.11. Now one token is worth less than a dollar.
