Sweatcoin, a move to earn application similar to StepN , is enjoying growing success. This application has just partnered with the Near blockchain to launch its token this summer.
More than 4 million wallets created in less than a month
Sweatcoin is a very popular move to earn application in the world. In particular, it was number 1 of the most downloaded applications in 33 countries as of May 1 , 2022. This app allows you to earn rewards during your walks or races. This, by following your movements via your GPS tracker.
The application currently offers gift certificates or different rewards when you accumulate a certain number of steps. Easy to use and intuitive, it has already won over more than 64 million users worldwide .
The application continues to grow with more than 71 million dollars traded on its marketplace during the first quarter. Sweatcoin already has more than 600 partner brands on its platform , a symbol of this high-speed development and the confidence companies place in this new economic model.
Unlike StepN which sometimes requires a substantial investment in an NFT, the pair of shoes, here there is no need to invest a penny. Just set up the app and start walking to get your first rewards. One less brake to allow adoption by as many people as possible.
A partnership with the Near blockchain
To continue its development, the application recently announced a partnership with the Near blockchain. Near stands out as a massive blockchain , ranking as the 21st largest market capitalization. This technological solution, which has been gaining popularity in recent months, in particular thanks to promises of speed and interesting scalability, will make it possible to launch a token in the summer. The Sweatcoin will be available this summer. Users can already choose to have their step rewarded via this token.
So every 1000 steps users can get a Sweatcoin . But also via other systems such as the sponsorship of friends or the viewing of advertisements.
Near’s ambition is to eliminate barriers and promote the adoption of blockchain and Web 3 technologies by as many people as possible. Through an easy-to-use application like Sweatcoin, it is a further step in favor of the development and mass adoption of these technologies.
Is Sweatcoin’s vision rooted in creating a new welfare economy, as its co-founder Anton Derlyatka states:
Sweatcoin was founded with the ambition to create a new economic model of wealth through health. For every 1,000 steps you take, you get a Sweatcoin that can be redeemed for in-app goods and services from brands like Sonos or Reebok. You can also donate it to charities via Sweatcoin for Good.
The move to earn phenomenon is gaining momentum . Even if the more than degraded market context should slow down its development, initiatives like Sweatcoin could tip this hype towards adoption by the general public. We will closely follow the news of this promising project for the Web3 ecosystem.