Who runs this, Sweatcoin?Īs of now, more than 400 vendors in the UK, US, EU, Canada, and Australia accept this as a means of payment via the app’s marketplace. Own one of 4 featured slots in front of millions of physically active and technologically savvy users, effectively, looking for the coolest new products. The fitter and healthier you become the wealthier you get. You can also spend them on goods, services and experiences on our market place with our partners or exchange them with your friends and family for whatever you fancy. You can also donate your SWCs to some of our amazing partnering charities making for an easy way to help others around the world. Goods, services & experiences ranging from anti-gravity yoga classes to high-tech shoes, to iPhones and Apple Watches. Those steps, as a result, get converted into our currency - Sweatcoin SWC We track & verify your outdoor steps using your phone’s accelerometers and GPS location. It runs in the background of your iPhone, or Android phone. The Sweatcoin app converts movement into a form of digital currency called ‘Sweatcoin’. The solution, consequently, a fitness app that converts outdoor steps into a virtual currency, which can be spent within the app’s marketplace on real goods and services (providing immediate gratification). In order to motivate people to move more, Sweatcoin identified the need to overcome ‘present bias’ a term used in behavioural economics to describe humans tendency to ignore things that don’t have an immediate effect on us. Sweatcoin was created with the mission to motivate people to be more physically active and fight the obesity problem that costs the global economy billions of dollars in direct costs every year. In addition to helping you feel better, look better and just be healthier Sweatcoin, in effect, hopes to put a few extra bucks in your pocket. The concept is to incentivise you in order to get off the couch, break away from the desk at work and start moving. Redeem these coins for gifts ranging from magazines, healthy energy drinks, music downloads to digital watches, running shoes, electronics, and more. You earn SWCs through an app on your phone it tracks your outdoor steps throughout the day and consequently rewards you with about 1 SWC (1 Sweatcoin) per 1,000 steps you make. Simply, Digital currency backed by physical movement. Sweatcoin is a digital currency that you earn by walking or running.
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