Sweat Economy
Crypto Overview
Purpose and Utility
Sweat Economy is a move-to-earn cryptocurrency project that rewards users with SWEAT tokens for physical activity tracked through their smartphones. The project aims to incentivize healthy lifestyle choices by monetizing movement.
Business Model
The platform operates through the Sweatcoin app, which converts steps into SWEAT tokens. These tokens can be used within the ecosystem to purchase products, services, or NFTs from partner brands. The business model is transparent and based on promoting physical activity, which aligns with Islamic principles of maintaining good health.
Real-World Adoption
The Sweatcoin app has demonstrated significant adoption with over 100 million registered users globally. The project has established partnerships with numerous brands and maintains an active marketplace where users can spend their earned tokens.
Platform Development
The project shows continuous development activity with regular updates to both the app and blockchain infrastructure. The team maintains an active development schedule and regularly implements new features and partnerships.
Token Distribution
The token distribution includes allocations for user rewards, development team, and ecosystem growth. While there are tokens allocated to the team and early investors, they are subject to vesting periods, showing commitment to long-term project development.
Revenue Model
The primary revenue streams come from partnerships with brands and marketplace activities. The project does not involve interest-bearing mechanisms or prohibited activities under Islamic law.
Crypto Impact
To assign a comfort level investing in Sweat Economy from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to Sweat Economy.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
We will review your contribution for accuracy before publication.
Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
You only have one vote per asset so use it wisely.
You can change your vote if you change your mind.