Move-to-Earn apps have become the hyped trend this spring in the world of crypto. Of course they have, because they give you tokens for daily activities like walking or running. But the hype has also led to exorbitant prices. For example, to start playing the top M2E game STEPN, you have to buy NFT sneakers, and their prices at the moment start at 13 $SOL, and shoe boxes with new sneakers are even more expensive.
Today we will explore a project that you can enter without investing. This is the British startup Sweatcoin.
How does it work?
The app uses the GPS module in your phone and runs in the background. Through this app, all of our movements are tracked and recorded.
For every 1,000 steps, the user gets 1 SweatCoin. You can earn a maximum of 10 SweatCoins per day by walking or running 10,000 steps (about 5 km). Once a day, a 20-minute booster is activated. During this period, your steps are doubled.
In addition to the daily booster, users can earn coins for viewing affiliate ads. The app will offer 3 views per day, and the the reward varies. On average, you can get 2-3 tokens for watching three commercials.
The second option is an affiliate program. For each invited user, the program pays 5 SweatCoins.
Earned coins are credited to the internal wallet in the app. Also, once a week, you will receive a report with detailed statistics on the steps taken and tips on how to earn more SweatCoins.
In the summer, the Sweat Foundation will conduct its TGE and exchange your SweatCoins for $SWEAT tokens. $SWEAT will be subject to exchange for other cryptocurrencies and fiat. Farming and staking will be possible, and the token will acquire additional utility.
As of now, the economy of the app runs on advertising, subscriptions, and sponsored brands whose products can be purchased inside the app.
Sweatcoin offers a Premium subscription, currently priced at $4.99 per month or $24.99 per year. Premium benefits include:
- Double the number of all steps (the booster works all the time, not just for 20 minutes a day);
- Amount of tokens that can earned is not limited;
- Exclusive in-store items;
- Customized profile pictures.
Most likely, Premium subscribers may get additional perks and airdrops after the TGE.
The project has taken on really cool investors and partners: NEAR Foundation, Justin Kan (founder of Twitch), Sandeep Nailwal (founder of Polygon), Spartan, OKEx, etc.
Will Sweatcoin repeat the success of other M2E biggies?
Time will tell, but we are already seeing serious support from NEAR Protocol and top investors. The app is high quality, and the team is actively marketing the app.
This project is an ideal entry for those who want to check out the M2E space, while also making money. Since entry is free, it is a good way to understand the mechanics of M2E.
As always, DYOR.