Sweat Economy (SWEAT) is the new move-to-earn platform currently riding high on the download charts, but is it the stuff of chumps, or of champions?
Here, Be[In]Crypto takes a closer look at the latest move-to-earn sensation to find out whether Sweat Economy can break free of the STEPN chasing pack to take the lead for itself, or whether it is instead doomed to languish behind.
What is Sweat Economy?
Sweat Economy is a move-to-earn fitness application which allows users to gain tokens by getting their body moving, much like rival STEPN.
The project is called Sweat Economy and bills itself as the “next evolution” of the Web2 app Sweatcoin, while the coin itself is called SWEAT. The project is managed by the Sweat Foundation and both Sweat Economy and Sweatcoin seem to be running concurrently.
That adds the potential for some degree of confusion for the casual observer. On the Sweatcoin homepage it states that Sweatcoin has 100 million users, while on the Sweat Economy Twitter page it says the company has 120 million users. Presumably the bulk of these users are inherited from Sweatcoin.
SWEAT tokens are generated when users are physically active
According to the company litepaper, SWEAT tokens (not Sweatcoins) are generated only when the user is physically active and are available to anyone who has downloaded the Sweatcoin application (not the Sweat Economy application).
For every single 1,000 steps a user inputs into the system, one SWEAT token, not coin, is generated.
According to Sweat Economy, only genuine activity will be rewarded in their ecosystem.
“Consistent and accurate movement validation is fundamental to ensuring the integrity of the underlying asset,” says the Sweat Economy litepaper.
While few details are available on how this verification process will work the process will be managed by SweatCo Ltd. Users will
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