Sweat Economy to launch web3 wallet in the United States

Sweat Economy to launch web3 wallet in the United States

02.03.2023 09:34 (Updated 02.03.2023 09:03)
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by Yana Popenkova
2 min read

Move-to-earn giant Sweat Economy will re-enter the U.S. on September 12 after their web2 app was paused last year. Millions of users will receive their previous $SWEAT allocations and start generating new tokens by running.

Sweat Economy’s web2 Sweatcoin app was first introduced to U.S. citizens in 2016 and has since been successfully rewarding users with loyalty rewards for exercising – Sweatcoins. However, when the SWEAT token and Sweat Wallet were launched last year, both the app and rewards ended up frozen due to regulatory obstacles. U.S. users couldn’t participate in the original Token Generation Event (TGE), receive $SWEAT, or generate $SWEAT by walking.


Related: A deep dive into the biggest Move-2-Earn project โ€“ Sweat Economy: An interview with the co-founder

However, as of September 12, all U.S. users will be able to install a Sweat Wallet, receive $SWEAT proportional to their web2 Sweatcoins allocations, and generate new tokens by running. Oleg Fomenko, the founder of Sweat Economy, told TradeCrypto that “it’s a great pleasure to finally bring Sweat Wallet to the US market.” The team, however, has emphasized that $SWEAT tokens for the much-anticipated U.S. launch won’t come from additional token emissions but from existing token allocations.

Since last year, we have been inundated by requests from our US users, who have been desperate toโ€ฆ  literallyโ€ฆ walk into crypto. Although we wish we could have made this announcement last year – better late than never! Itโ€™s wonderful to announce the good news to our millions of US-based users now.

When asked about the impact of re-entering the market while having an established and large user base, Oleg said:

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.

โ€‹Sweat Wallet not only allows users to earn $SWEAT by walking, but the app also offers features like crypto trading, tangible rewards, Learn and Earn, and an NFT game called Sweat Hero.

Author

  • Previously worked in the arts, now specializes in covering crypto with an emphasis on DeFi, blockchain and mass adoption. Offers simple and clear writing, always looking for new ways to present information. Major in International Relations, minor in English, in a spare time reads postmodern literature, does yoga and watches movies.

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