Sweatcoin, an app that rewards users with daily actions with SWEAT tokens that can be spent on products, donated to charity or converted to other crypto, is set to launch this week.
Soon, the Sweatcoin community will have the opportunity to match their app-to-app pre-sweatcoins with a 1: 1 SWEAT token at a Token Generation Event (TGE) scheduled for this summer.
Designed to capture the value of movement, this cryptocurrency will be created purely step by step.
Following the Token Generation Event (TGE) scheduled for this summer, SWEAT will be launched by the Sweat Foundation, a BVI-headquartered entity and partner of Sweatcoin to launch the Sweat Economy.
“We are turning the movement into a valuable, recognized currency with the help of SWEAT: tokens, and for those new to the space, it is a little-to-no-financial-risk-free option. What is becoming increasingly difficult is helping us to achieve the goal of making the world more physically active by unlocking the values of the movement. “
– Oleg Fomenko, co-founder of Sweatcoin
Sweatcoin has chosen the eco-friendly NEAR as its blockchain for its tokens and in addition the NEAR Foundation is investing in this project.
Other institutional supporters include Electric Capital, Spartan Capital, Jump Crypto, OKX Blockdream Ventures, and GSR, as well as Terra co-founders Do Cowan, Sandeep Neilwal, Polygon Founder (MATIC) and Bjorn Wagner, co-founder of Parity. (Polcadot).
“One of Near’s core missions is helping the world onboard on Web 3, collaborating with the Sweat Foundation to bring us closer to that mission. The company is aligned with our core values of sustainability. Creating SWEAT, NEAR’s carbon-neutral blockchain tokens enable more people to work towards a more sustainable future. ”
– Marie Flament, CEO of the Near Foundation
The Sweatcoin app can be found on Google Play and the App Store.