Sweatcoin enters the WEB3 industry. The fitness app that gained 100 million users announced the good news on 28 July via Twitter.
We have successfully closed a $13M investment round to fund our launch into Web3. We are delighted to partner with some of the greatest investors in crypto!
Read the press release here:https://t.co/6HtEYbY0rR
— Sweat Еconomy 💧 (@SweatEconomy) July 28, 2022
Sweatcoin is a health and fitness app that rewards users based on daily steps. These rewards are in the form of products, charity donations, or convert into SWEAT. It is currently the most downloaded health and fitness app. Sweat Economy aims to “incentivize healthier living by rewarding people for their movement” through Sweatcoin
The Entry into WEB3 Industry
The Sweat Economy, the team behind Sweatcoin, has been making a move to the WEB3 industry. The entry was supported with funds worth $13m by some blockchain investors, such as Spartan Capital, Electric Capital, and others. These funds will help Sweat Economy to reach more users through the launching of SWEAT, a new cryptocurrency.
The team stated, “Sweat Economy wants to onboard the next billion users to crypto by rewarding their daily physical activity with SWEAT, a new cryptocurrency.”
How to do it? Users have to download the app and make the steps. After it is validated, it converts to Sweatcoins. The launching date for SWEAT is 12 September with SWEAT Wallet. All Sweatcoins will match the SWEAT token. Users can also keep using Sweatcoins as usual, as some people probably have limited access to crypto in their areas.
WEB3 always gives surprises to the community. This new movement will automatically reach new users who probably have never used crypto before. But through Sweatcoin, many people would set their eyes on it, especially since Sweatcoin itself is already a popular app. In the future, it will be a good move for companies of any industry to enter the WEB3 world to spread information about crypto.