Sweat Economy expands to more countries as $SWEAT token price surges

2023-10-17 12:45

Sweat Economy (SWEAT), the fast-growing Web3 ecosystem, is set to continue its expansion plan as it launches to more countries. In a statement to Invezz, the company said that it was expanding its operations to countries like the Bahamas, United States, Botswana, Jamaica, and Ghana.

The new launch means that residents in these countries can now start using its application to earn $SWEAT rewards for exercising. Users use the platform’s app known as Sweatcoin to verify their movement-tokenizing their physical activity. $SWEAT exists on the NEAR Protocol, one of the fastest layer-1 networks.

The announcement came a few days after a historic vote in Sweat’s ecosystem where users decided to burn and reallocate idle tokens to support the expansion process. In a statement, Oleg Fomenko, Sweat’s co-founder said:

“We are thrilled to finally bring the Sweat Economy experience to the United States and 8 other markets. We are excited that residents of these countries will also be able to–literally–WALK INTO CRYPTO. Our global community of users has been instrumental in supporting this launch and we are thankful for their participation.”

Sweat Economy is part of Sweatcoin, one of the biggest players in the Web3 space. It has over 140 million registered users and it still ranks as the most popular fitness app in the industry.

Users just need to download and install the app, register, create a Sweat Wallet, and start minting the $SWEAT token by just walking, running, or other physical activities. Users can then store these earned tokens into their Growth Jars, which are saved and multiplied. Also, they can participate in SWEAT Hero, an NFT game to earn more tokens.

All these features have made SWEAT one of the most-held cryptocurrencies in the world and the 13th most actively used tokens. This expansion will help to supercharge this growth.

All these milestones explain why SWEAT price has recovered modestly even as the crypto winter continues. After bottoming at $0.0042 in June, the token has jumped by more than 137% and is now hovering near its highest level since April.

The post Sweat Economy expands to more countries as $SWEAT token price surges appeared first on Invezz.

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