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Sweat Economy Launches in Nine Countries, Ushering 140 Million Users into Web3

Sweat Economy

Sweat Economy has expanded its reach to the United States and eight additional countries, including the Bahamas, Barbados, Botswana, Ghana, Jamaica, Pakistan, Zimbabwe, and Uganda. This expansion aligns with Sweat Economy’s mission to empower billions of people globally, fostering a healthier and wealthier community.

The expansion into these new markets was made possible through the enthusiastic support of Sweat Economy’s community, with over 380,000 users actively participating in a historic vote. This significant move allows millions of users to tokenize their physical activity within the Sweat Economy ecosystem, bolstering the growing global movement economy.

Sweat Economy leverages its popular Sweatcoin app, launched in 2015, to enable users to verify their movement and tokenize their physical activity. Through this unique passive reward system, users can mint $SWEAT, a token on the NEAR Protocol, positioning Sweat Economy as one of the largest Web3 on-ramps in history. Existing Sweatcoin users will be onboarded onto Sweat Wallet, and this integration allows users to engage in various activities to earn and utilize $SWEAT. The ecosystem includes features like “Growth Jars” for saving and multiplying tokens, a free-to-play Sweat Hero NFT game, and the option to purchase $SWEAT through MoonPay fiat on-ramp.

Oleg Fomenko, co-founder of Sweat Economy, expressed excitement about the expansion, stating, “We are thrilled to finally bring the Sweat Economy experience to the United States and 8 other markets. Our global community of users has been instrumental in supporting this launch. By expanding into these markets, we aim to inspire a new wave of physical activity and incentivize individuals to lead healthier lives, paving the way for the next billion users looking to participate in the movement economy.”

Chris Donovan, CEO of the NEAR Foundation, applauded Sweat Economy’s progress, emphasizing its significance in bringing millions into the open web. “Sweat Economy’s launch into the U.S. represents a major milestone not just for the project but for the entire NEAR ecosystem. It also demonstrates the incredible scalability of the NEAR Protocol, supporting one of the largest consumer apps in Web3 operating at significant scale.”

Sweat Economy’s unique approach, combining fitness tracking with blockchain technology, provides an innovative solution to motivate and engage individuals in leading healthier lives. With over 140 million Sweatcoin users, this transformative platform continues to redefine the future of the global fitness industry.

About author

Editor at TechArena. I cover all things technology and review new gadgets as I get them. You can reach me on email: kaluka@techarena.co.ke
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