Sweat Economy, a Web3 ecosystem that incentivizes physical activity, has expanded to 4 African countries including Botswana, Ghana, Zimbabwe and Uganda.
With the support of its community, Sweat Economy aims to onboard millions of users into its ecosystem, adding momentum to the burgeoning global movement economy.
Sweat Economy builds on the success of the massively popular Sweatcoin app, which launched in 2015 and quickly amassed more than 140 million registered users, becoming the most downloaded health app in over 60 countries.
The service revolutionizes movement using a unique passive reward system. By leveraging the Sweatcoin application in tandem, users can verify their movement and tokenize their physical activity.
As a reward, users can mint $SWEAT, a token on the NEAR Protocol, positioning Sweat Economy as one of the largest Web3 on-ramps in history. Once onboarded into Sweat Wallet, users can mint $SWEAT by engaging in physical activities.
According to Oleg Fomenko, co-founder of Sweat Economy Accrued $SWEAT can then be used in various ways, including deposited into “Growth Jars” to be saved and multiplied, and unlock exclusive rewards within the ecosystem.
By expanding into these markets, we aim to inspire a new wave of physical activity and incentivize individuals to lead healthier lives, while paving the way for the next billion users looking to participate in the movement economy.
Oleg Fomenko, co-founder of Sweat Economy
Chris Donovan, CEO of the NEAR Foundation indicated that It’s incredible to see the progress of Sweat Economy as it enables them to achieve their mission to bring millions into the open web.
“As an industry leader in tokenizing physical activity, Sweat Economy’s launch into the U.S. represents a major milestone not just for the project, but for the entire NEAR ecosystem.”
The new Bahamas, Barbados, Botswana, Ghana, Jamaica, Pakistan, Zimbabwe, and Uganda.