On September 29, the London-based tech firm, Sweat Economy, announced its partnership with Few and Far, to launch its first-ever non-fungible tokens (NFTs). The Sweat Economy’s goal is to encourage people to move more to cryptocurrency. This new initiative will lay the groundwork for a new incentive structure for move-to-earn.
As per the company’s press release Sweat Economy’s mission is to inspire a healthier planet by incentivizing people to move more through crypto. Over 120 million people are a part of the Sweat Economy ecosystem, which consists of Web2 (Sweatcoin) and Web3 (Sweat Wallet) applications.
Sweatcoin is the most popular Health & Fitness app of 2022, and the Sweat Wallet was the most popular decentralised application (DApp) in the world in its first week of introduction. Both of these achievements were accomplished by Sweatcoin. Sweat Economy is an idea with the goal of turning physical activity into a unit of value that can be represented by SWEAT, a new cryptocurrency that can help fuel an open economy based on physical activity.
The exclusive collection of 10,000 rare NFTs was made on the app Few and Far, which is a next-generation NFT marketplace built on NEAR. This collection will only be available in the Sweat Wallet NFT Gallery, and users who meet the required SWEAT staking threshold will be entered into a prize draw to win it. The recipients of the prize will each get 1 NFT, and moreover, there will be 5 winners selected at random to receive a reward of $300 worth of $FAR, which is Few and Far’s native platform token.
To get daily updates & trending news on crypto follow us on: