Sweat Economy has successfully launched on the NEAR blockchain with the largest ever airdrop to active, opted-in, wallets.
In an unprecedented event last week, the Move-to-Earn platform distributed over 4.7 billion of its new Web3 SWEAT token to 13.5M token holders.
The SWEAT tokens were distributed to existing Sweatcoin users, who opted into Web3, making the airdrop a gigantic on-ramping event.
Consequently, the Sweat Wallet app became the No.1 most downloaded Finance app in 51 countries.
Oleg Formenko, co-founder of Sweat Economy said: “Last week was not just a milestone week for the Sweat Economy team – as the realization of our original founding ambition – but a historic week for web3 where we witnessed both the birth of the economy of movement and the mass-onboarding of millions of new users to crypto.”
On-boarding the masses into Web3
Sweat Wallet is purpose-built to be a seamless experience for Sweatcoin users, who have never interacted with the blockchain before.
Available in 75 countries, the Sweatcoin app had 110 million users in August and as it expands into 160 countries, the users are expected to continue soaring in the upward trajectory.
This is a major moment for Web3 as millions of movement enthusiasts cross over from Web2, as the platform starts its journey on the NEAR blockchain.
Whilst being simple to use, the Sweat Wallet is powerful enough to handle token staking, NFT games, and the many more features set to make up the platform’s ‘economy of movement’.
A record-breaking moment for SWEAT
Over 2M users downloaded and activated the Sweat Wallet app within 72 hours of the historic airdrop, named the ‘Token Generation Event’ (TGE).
Now, Sweat Wallet is the second most used dApp (Decentralized App) across all chains since its launch.
Furthermore, the newly launched Sweat Wallet app reached the no.1 Finance app spot in 51 countries, and was a top 5 Finance app in 115 countries.
In addition, the original Sweatcoin app – which has consistently topped the ‘health and fitness’ category throughout 2022 – accompanied its Web3 sibling…