Sweatcoin is the crypto of the new Sweat Economy, the Web3 universe of the most downloaded move-to-earn app ever.
SWEAT, the new crypto of the Sweatcoin landscape
To the cry of “Just the first step is enough to get started!”, Sweatcoin is an app that is classified in the nascent group of DTEs (Do To Earn) specifically in the Move-To-Earn domain of which are all those sports apps that allow through the measurement of physical activity to earn money.
In the specific case of Sweatcoin, the app records the steps taken in the day and against these corresponds a remuneration.
The effort made is remunerated with the eponymous digital currency that can be kept just like a real wallet, or used to purchase on a dedicated platform various items, services and experiences offered by the company’s business partners.
Underlying the business model is the concept that movement has intrinsic value on a social level-the more we move, the healthier we will be, and consequently so will the society in which we live.
The well-being of the individual becomes the common well-being (health as a result of physical activity) and for this we are rewarded through Sweatcoins.
The token, which was launched on 13 September at a price of $0.050187 has gradually dropped in value until it is around $0.01
In the last two weeks, however, there has been a gradual recovery that has led it in the day alone to appreciate by 8.35% compared to the price of the day before in line with the trend that had already begun last week, which made it the protagonist of a +8.9%.
Progress in expressed performance will be recorded by Sweatcoin’s fitness tracker, so that we always have perception of the number of steps and physical activity performed.
Upon reaching certain goals in physical activity, Sweatcoin will allow the user to access free offers on the marketplace as well as unlock exclusive discounts and products.
The Sweatcoin app
The app can be used via any smartphone device (Android or iPhone) and smartwatch (currently on Apple Watch, but soon to be on Android Wear).
The function of recording steps via the app happens directly in the background making the app really green as it gives the option of not using the battery of one’s device for computing.
In addition to Move-to-earn, soon the app will also become a classic Play-to-earn where it will be possible to rank worldwide performance, have competitions and knockout tournaments, and be rewarded not only for steps taken but also for victories achieved and levels surpassed with a performance award (always in coins).
The company also values privacy and guarantees that the movements made during exercise will not be tracked in any way, and the same secrecy will be adopted for the handling of personal data of users who can sleep soundly about their identity.
The algorithm used by Sweatcoin for counting steps is specific only to the app and therefore unlike other apps that rely on external algorithms it guarantees a protection otherwise impossible to achieve.