Move-to-Earn Platform Offers $24K Prize for Just Walking Every Day

A new campaign launched by the Sweat Foundation is offering users a passive crypto-denominated income to encourage healthier living

article-image

Source: Shutterstock / dennizn, modified by Blockworks

share

Sweatcoin, a move-to-earn platform that rewards users with crypto for the steps they take, has launched a new campaign that would reward one lucky individual $24,000 a year for simply walking each day.

The team said in a blog posted Monday that it’s looking for a “chief walking officer” who will receive a monthly paycheck. All this person is required to do is walk an average of 5,000 steps a day, send a selfie to the Sweat Foundation every month and attend media interviews.

The “chief walking officer” title is just a prize draw, not an open position at the Sweat Foundation. Users wanting to enter the contest can do so via the Sweat Wallet app “for a chance to win the easiest paid role on earth, according to the blog.

Unlike Solana-based move-to-earn app, StepN, users of the Sweatcoin app aren’t required to make initial payments or buy an NFT to start allowing the app to keep track of your steps. Another move-to-earn platform, StepWatch, offers free NFTs for access.

Using Sweatcoin, the app gathers movement data, and rewards users with an appropriate amount of the platform’s native token SWEAT.

People looking to enter the prize draw should have a valid Sweatcoin account and wallet. They’re also required to stake 25 SWEAT in the wallet and pay an opt-in fee of 1 SWEAT.

People based in the US, China, Russia, Pakistan or any restricted location based on Sweat’s terms and conditions are not allowed to participate. The Sweat Foundation’s internal team is also not allowed to take part.

Sweat Wallet is currently not available in the US due to regulatory restrictions, but is expected to roll out to US-based users from Sept. 12. That means US users can earn SWEAT, but are unable to transfer the tokens or self-custody them.

The prize draw runs from April 3 to April 16. A random draw will be used to find the winner within 7 days of the closing date. The prize won’t be paid out in fiat currency or SWEAT but instead in monthly installments of 2000 USDC or USDT.

Sweat Economy secured $13 million in funding last year from investors including Electric Capital, OKX Blockdream Ventures and GSR Ventures. The app says its goal is to incentivize healthier living by rewarding users for moving through “sweat coins,” which it calls “airmiles for steps.”


Don’t miss the next big story – join our free daily newsletter.

Tags

Upcoming Events

Hilton Metropole | 225 Edgware Rd, London

Mon - Wed, March 18 - 20, 2024

Crypto’s premier institutional conference returns to London in March 2024. The DAS: London Experience: Attend expert-led panel discussions and fireside chats Hear the latest developments regarding the crypto and digital asset regulatory environment directly from policymakers and experts.

Salt Lake City, UT

WED - FRI, OCTOBER 9 - 11, 2024

Pack your bags, anon — we’re heading west! Join us in the beautiful Salt Lake City for the third installment of Permissionless. Come for the alpha, stay for the fresh air. Permissionless III promises unforgettable panels, killer networking opportunities, and mountains […]

recent research

Research report - cover graphics (1).jpg

Research

In this report, we dive into crypto private market data to gather insights on where the future of the industry is headed. Despite a notable downturn in private raises, capital continues to infuse promising projects that aim to transform payments, banking, consumer experiences, community, and more, with 2023 being the fourth-largest year for crypto venture capital.

article-image

Revolut said that the standalone crypto exchange is currently “invite only”

article-image

The stock price jump comes after Coinbase reported ending its seven-quarter run of net losses during the fourth quarter

article-image

BUZZ holds shares of Coinbase, Robinhood and MicroStrategy

article-image

Opinion: Even though I didn’t pay for my “Diamond Hands” burger with BTC, don’t let that fool you into thinking that crypto’s development is futile

article-image

The results mark “a major positive inflection point,” one analyst says, as the exchange carries net income momentum into a crypto rally

article-image

While the slate of 10 US spot bitcoin funds have tallied $4.6 billion of net inflows thus far, half of the field is lagging the leaders