Sweat Economy is an ecosystem consisting of Sweatcoin, a popular Move-to-Earn game, and Sweat Wallet, driving an open economy of movement. Managed by the Sweat Foundation, the Sweat Economy and the Sweatcoin decentralized application (dApp) operate on NEAR Protocol.

The Sweatcoin app soared in popularity to become the most downloaded health and fitness app in 2022. The app uses SWEAT crypto as an incentive to encourage people to move, stay active, get fit, and improve their health.

As of October 2022, the Sweatcoin app boasts over 120 million registered users. Sweat Economys Sweat Wallet - the official wallet for the SWEAT token, has more than 13 million users who manage their SWEAT holdings, store them securely, and even earn attractive rewards through yield farming and staking.

SWEAT gets minted as users of the Sweatcoin app move more and earn more. However, the developers behind the project have introduced several mechanisms to control the inflationary supply of SWEAT and make it harder to mint new tokens, maintaining its circulating supply and supporting its value in the market.

The Sweatcoin app within the Sweat Economy is free to download and use on both Apple App Store and Google Play Store. Users receive rewards that can be redeemed for SWEAT tokens based on the number of steps they take daily.

Through this mechanism, the Sweat Economy aims to reward users for maintaining healthier lifestyles and becoming more active. The SWEAT tokens earned as rewards on the Sweatcoin app can be spent on buying products, donated to charitable causes, or held as a cryptocurrency in the Sweat Wallet.

Sweat Economy elevates the utility of SWEAT tokens by giving its holders more use cases for its native token. Users can create accounts on Sweat Wallet to store their $SWEAT crypto, earn attractive yields on holding the coin, enjoy lower transaction fees within the Sweat Economy ecosystem, and more.

Sweat Economy also has plans to introduce NFTs and games within its ecosystem, giving users more ways to earn SWEAT by challenging each other. This would further incentivize engagement within the project and encourage more users to hold and use SWEAT crypto.

Sweatcoin was a Web2 mobile app launched in 2016, which used to reward users in Sweatcoins - a virtual token that could function only within its app and was not a cryptocurrency. Sweatcoin served as the in-app currency within the Sweatcoin app and could be used to claim real-world rewards, buy products, and more.

Sweat Economy is the Web3 initiative of the Sweatcoin project, aimed at taking the app from its Web2 form into Web3. The evolution into the world of Web3 now lets Sweatcoin users convert their rewards earned by moving into SWEAT tokens - a cryptocurrency token designed on the NEAR Protocol blockchain.

With the Sweat Wallet, Sweat Economy lets Sweatcoin users earn rewards for being active and doing more with their earnings. The Sweat Economy ecosystem allows users to hold, transact, and earn passive income using SWEAT crypto.

After launching the SWEAT token at the token generation event (TGE), along with the Sweat Wallet app and SWEAT staking, the second phase of the Sweat Economy project will focus on launching SWEAT NFTs.

Over time, the Sweat Economy will launch the SWEAT DAO for decentralized governance of its ecosystem, allowing token holders to submit and vote on proposals. There are also plans to launch an NFT marketplace, crypto exchange, and gaming experiences for further engagement with the Sweat community, all fueled by the SWEAT cryptocurrency.

$SWEAT is the native token of Sweat Economy. Here are its most popular use cases:

Incentive Token

You can redeem $SWEAT tokens against the Sweatcoins you earn in the Sweatcoin app. The rewards are received as incentives for movement, and your earnings are proportional to the number of steps you take daily.

Native Currency

As the native currency of the Sweat Economy ecosystem, SWEAT is used by businesses to pay for access to the network of users on the platform. It is also used to pay transaction fees on Sweat Wallet, the official crypto wallet of the Sweat Economy.

Earn Passive Income

SWEAT can be staked on the Sweat Wallet, giving you a chance to generate attractive returns. To grow your investment, perform staking or yield farming operations on your token holdings.

Crypto Asset to Trade and HODL

Trade Sweat Economy against other digital assets on a cryptocurrency exchange like BYDFi to make the most of changing market conditions. You can buy or sell SWEAT against other cryptocurrencies or hold it long-term if you believe in the future potential of the Sweat Economy. Review the real-time price of Sweat Economy, SWEAT market cap, circulating supply, 24-hour trading volume, and the latest crypto news before you trade SWEAT in the market.

The Sweat Economy cryptocurrency could be a good investment if you diversify your portfolio into emerging areas such as GameFi and Move-to-Earn. The SWEAT crypto could be a good addition to consider, as it is one of the most popular GameFi tokens in the market.

The Sweat Economy price could witness an uptrend as the ecosystem develops further and introduces new uses for the SWEAT crypto. Such a move could encourage more investors to buy and hold SWEAT tokens, supporting the SWEAT coin price.

The Sweat Economy project has plans to focus more on NFTs and gaming powered by the $SWEAT token. As these products and services launch, the SWEAT price and market capitalization could head higher as the value of the project increases in the future.

Sweatcoin also has plans to add other forms of physical activity for tracking and rewarding users, such as cycling and swimming. This could further drive up the price of Sweat Economy.

There are many ways to earn $SWEAT token. Lets take a look at some of the options:

Earn Rewards on Sweatcoin

Use the Sweatcoin app to earn rewards for moving and recording more steps daily. The higher your step count, the higher your earning potential. The Sweatcoins you earn as a reward can be converted to $SWEAT crypto, stored in your Sweat Wallet, and used within the Sweat Economy markets.

Staking and Yield Farming

SWEAT token holders can perform staking and yield farming via Sweat Wallet to grow their holdings. Such activities offer a convenient way to earn $SWEAT and increase your crypto investment.

Trade SWEAT on BYDFi

Trade Sweat Economy on BYDFi or other supported platforms to profit from changing market conditions. Analyze the Sweat Economy price chart and place your trades carefully to minimize risks.

The Sweat Foundation, the non-profit organization managing the Sweat Economy project, has committed a portion of its revenue to buy back and burn SWEAT tokens from the secondary market. It may also purchase SWEAT from the secondary market and redistribute it as staking yields.

Such mechanisms can slow down the minting process and control the inflation in SWEAT crypto. Keeping the circulating supply of SWEAT in control through such token buybacks and burning mechanisms is an effective strategy to support the SWEAT to USD price in the market.

In the future, as the ecosystem evolves and the Sweat Economy launches NFTs and games, the Sweat Foundation can earn higher transaction fees. The fees earned from user experiences can ensure a net-deflationary mechanism for the SWEAT circulating supply.