Launching in the United States is the Web3 project known as Sweat Economy, which aims to liberate the hidden monetary potential of physical activity.
Sweat Wallet, together with its native token Sweatcoin (SWEAT), will be released on September 12, 2023, to commemorate the one-year anniversary of the venture’s worldwide debut, according to information shared with Finbold in a press release on March 2.
Since their Token Generation Event (TGE) in September 2022, Sweat Wallet has been listed among the Top 10 Blockchain Dapps on DappRadar on a continuous basis.
The Web2 Sweatcoin app has been accessible in the United States Since 2016, awarding millions of users with loyalty points (‘Sweatcoins’) for their steps. However, with the debut of the SWEAT token and the Sweat Wallet in 2022, the software was blocked from the market owing to regulatory restrictions.
As a result, users missed out on the first Token Generation Event (TGE), never got their SWEAT allotment, and couldn’t earn SWEAT while walking.
Users will receive their SWEAT allocations in September
From September 12, 2023, Sweat Wallet will be available to users in the United States. On this day, existing users of the Sweatcoin app will get their allocations of SWEAT in accordance with their current Sweatcoin holdings, and they will be able to begin earning additional tokens for their steps immediately after receiving these allocations.
Co-Founder of Sweat Economy, Oleg Fomenko, stated:
“It is a great pleasure to finally bring Sweat Wallet to the US market. Since last year, we have been inundated by requests from our US users, who have been desperate to… literally… walk into crypto. Although we wish we could have made this announcement last year – better late than never! It’s wonderful to announce the good news to our millions of US-based users now.”
“I have no doubt that Sweat Economy will make a tremendous impact in the United States, having already become the most-downloaded financial app in over 50 countries.”
Users of the Sweat Wallet app may, in addition to earning SWEAT by walking, access a cryptocurrency trading facility, physical incentives, Learn and Earn feature, and play a non-fungible token (NFT) game called Sweat Hero, all without leaving the app.
Finally, for the long-awaited US launch, the team has been clear that the necessary SWEAT tokens will not be created via new token emissions but rather will be taken from current token allocations.