Smart fitness home workout biking screen with online classes woman training on stationary bike equipment indoors for biking exercise. Indoor cycling. Focus on the sweat on person's back.
Sweatcoin has only been in the markets for a few years. However, its impact on the wellness industry. Today, over 900,000 mobile users have the Sweatcoin application instaled.
The idea behind Sweatcoin is the brainchild of Oleg Fomenko and Anton Derlyatka. The two creators came up with the idea of having a mobile application that motivated people to work out more after Fomenko lost the urge to continue working out after his previous startup went under.
The pair, both in their 40s, realized that the main problem people face with workouts is a lack of motivation. They also noted that most people prioritized immediate pleasure over long-term gain. In 2016, their idea had evolved into a business venture, and they founded the Sweatcoin app.
The app paid users 0.95 Sweatcoins for every 1,000 steps they take outdoors. The digital currency would then be traded for items such as fitness gear, gift cards, and workout classes in the app’s marketplace. For users with 20,000 Sweatcoins, they could exchange them with an iPhone.
Over the years, the Sweatcoin platform and digital currency has continued to grow. Being part of a growing blockchain economic model known as move to earn, where users are paid based on excise or movement they make over a period of time, it has continued to receive support. As a result, it has announced the launch of its native token, Sweat, which is due in July 2022.
The Sweatcoin platform has also announced plans to improve its app. In addition, they are also expected to run their native coin in a DAO model. This is the next move in their quest to become a crypto-linked project.
Unfortunately, the Sweatcoin tokens are not yet available in exchanges. Therefore, it is hard to make technical predictions without charts. However, it is highly likely that the cryptocurrency will be launched in a bullish cryptocurrency market. Therefore, I expect its prices to rise once its is launched in July. Furthermore, due to its high userbase, I also expect its trading volume to be high once the crypto is launched.
This post was last modified on May 23, 2022, 11:58 BST 11:58