Sweatcoin account stats are real: NEAR Protocol founder pumps ‘no bots’ SWEAT
09:52, 4 October 2022
Sweatcoin, an app that rewards users for physical activity, has been praised by NEAR Protocol (NEAR) founder Illia Polosukhin for an “amazing user experience”.
The accolade comes after a successful month for the mobile fitness app. In September 2022, Sweatcoin was ranked first out of all health and fitness apps in 58 countries, according to its CoinMarketCap page.
Currently, Sweatcoin is available as a token on the Ethereum and NEAR Protocol blockchains. It launched in September and initially grabbed the attention of investors.
Top active dApp
Polosukhin pointed at the launch of Sweatcoin when asked by DeCrypt to name a new and exciting project.
He praised the two million installs of the Sweatcoin mobile app., and said having a separate wallet app is “amazing user experience”.
According to DappRadar, Sweatcoin is the eighth most popular decentralised app (dApp) with its 45,000 users.
Polosukhin argues that this is not reflective as Sweatcoin uses a “civil resistance systems”, meaning that no bots are able to join the application.
The NEAR founder also predicted that SWEAT would drive crypto adoption.
NEAR to USD
He said: “There’s a lot more stuff coming out from that ecosystem. So I think that it is going to be the biggest onboarding channel for not just NEAR, but the whole web3.”
Initial success
While the sweatcoin went live in 2016, it recently created its own Sweat Economy, complete with a SWEAT token and wallet.
The cryptocurrency was released in September 2022 and was met by initial success. On 13 September, SWEAT’s first day of trading, its price opened at $0.05 and reached a high of $0.09.
The project also saw high social activity. There was a spike of search terms for Sweatcoin in September , according to Google.
However, its success has started to wane. As of 4 October, it was trading at $0.02 and was down 12% over the past seven days.
Where next for dApps?
Polosukhin predicted that the industry would start to have an influx of creative and social applications.
He said: “We’ve seen NFTs as a driver, but it’s just a tool. The reality is, it’s about people being creative and being able to find their audience…That’s why I think the next sector that has not been yet very hip and hyped is social.”
He pointed towards the newly announced Niche app as an example of this. The Web 3.0 social app for membership clubs was created by an engineer who previously worked at Tinder and Facebook.
Polosukhin said that in the future “you’ll see lots more social, new interactions, new ways to incentivise and nudge people in different directions”
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