Sweatcoin, an app that rewards customers’ day by day steps with SWEAT tokens which may be spent on merchandise, donated to charity, or transformed into one other crypto, is prepared for launch this week.
Quickly, the Sweatcoin group could have the chance to have their in-app pre-sweatcoins matched 1:1 with SWEAT tokens at a token era occasion (TGE) timed for this summer season.
Designed to seize the worth of motion, this cryptocurrency will probably be minted purely by steps.
After the token era occasion (TGE) scheduled for this summer season, SWEAT will probably be issued by the Sweat Basis, a BVI-headquartered entity and Sweatcoin’s associate in launching the Sweat financial system.
“We’re turning motion right into a beneficial, recognizable foreign money with SWEAT: the token, and for these which can be new to the area, it’s a little-to-no-financial-risk choice to get on board and acquire entry to an asset that’s changing into more and more tougher to mint, serving to us to attain the mission of creating the world extra bodily energetic by unlocking the worth of motion.”
– Oleg Fomenko, Co-Founder at Sweatcoin
Sweatcoin has chosen eco-friendly NEAR because the blockchain for its token and moreover the NEAR Basis is investing within the venture.
Different institutional backers embody Electrical Capital, Spartan Capital, Soar Crypto, OKX Blockdream Ventures, and GSR, in addition to venture leaders like Terra founder Do Kwon, Sandeep Nailwal, Founding father of Polygon (MATIC), and Bjorn Wagner, Co-Founding father of Parity (Polkadot).
“One among NEAR’s core missions is to assist onboard the world to Web3, collaborating with the Sweat Basis permits us to take a step nearer to that mission. The corporate additionally aligns with our core values of sustainability. Constructing SWEAT, the token on NEAR’s carbon-neutral blockchain empowers extra folks to work in direction of a extra sustainable future.”
– Marieke Flament, NEAR Basis’s CEO