coinwire.com hosts an AMA with SWEAT. #SWEAT #Near #NearDaily #AMA
CoinWire Admin: Good day everyone!!!! Today we welcome Mr. Ofir Avigad – Crypto Marketing Director from SWEAT here with us to talk about the project. Welcome to the NearDaily community Ofir!
Ofir Avigad: Glad to be here guys
CoinWire Admin: It’s a pleasure having you here with us as well! So, how’s everything?
Ofir Avigad: Super exhausted to be honest. We launched our token 2 days ago, and I personally didn’t expect so many good results.
- #2 trending on Coinmarketcap
- #8 trending on global Twitter
- 30K new Twitter followers in 2 days, now almost 350K followers
And of course….. SWEAT is like 6 cents :))). We launched less than 1 cent
CoinWire Admin: I noticed!!!! Damn man, x6 in just like that
Ofir Avigad: And we had been to the NEARcon, the annual conference of the NEAR blockchain, which we are building on. Was awesome
CoinWire Admin: Really excited to talk about SWEAT today to be honest, you guys are hugeee. So, are you ready to start the AMA with NearDaily Ofir Avigad?
Ofir Avigad: I am ready !!
CoinWire Admin: Right! So let’s not keep people waiting and kick this AMA off with our first segment: Q&A with the host
Q1: SWEAT has been around for an extensive amount of time, but for those who might not know who you are, walk us through Sweatcoin and SWEAT Economy in brief!
Ofir Avigad: In 2016 we created our first app – Sweatcoin (web2), which has made 110M+ people more active. Our new web 3 Sweat Wallet already has 13M+ wallets created in four months, the Sweat Wallet is the fastest growing DApp of all time!
Users receive SWEAT tokens for steps with no sign up fee / expensive NFT required to start earning, which creates a very large and loyal rapidly growing user base. Users discover many web3 features for the first time in the Sweat Wallet, like NFT driven games, sponsored learn to earn with our partners and staking.
CoinWire Admin: Sheshhhhh. So SWEAT Economy is going to be your web3 integration of Sweatcoin correct?
Ofir Avigad: It is. Sweat Wallet, our Web3 product, launched last week, and already have millions of downloads
CoinWire Admin: Hehe downloaded one myself and would love to discuss more about this in the later questions. For now, please introduce more about the team, including yourself to the audience please:
Q2: Who are the core people in charge of SWEAT? Are you all public? How big is SWEAT’s team right now?
Ofir Avigad: The Sweat team includes:
- Oleg Fomenko, Co-Founder: He has Held a wealth of strategic Roles and focus on Behavioural change at BT, Visa, CocaCola, Pepsi, BCG & Sweatcoin.
- Anton Deralykta, Co Founder: Previously, founding CEO of a VC focused on Health Tech, Talent Tech and Future of Work while managing senior roles at Reebok, Kearney, Ward Howell, Pepsi & Sweatcoin.
- Egor Khmelev CTO & Co-Founder: Co-founded a number of successful technology businesses in Moscow.
- Henry Child, Chief Crypto Officer: worked in crypto for over 3.5 years, most recently as Head of Tokens at Bitfinex and Tether. Previous experience includes Deliveroo and hedge funds.
- Jessica Butcher, Chief Marketing Officer: Technology entrepreneur, angel investor, advisor and NED with a demonstrable track record of launching and scaling businesses for 20 years. Co-founded award-winning businesses that have raised over $150M cumulatively.
CoinWire Admin: Absolutely strong team you have there, and I noticed that the core members are mostly from a traditional market, whereas Blockchain is quite a new one. Are you confident in your team to build SWEAT Economy using Blockchain?
Ofir Avigad: Yeah, so I’m a crypto naitve, and so is Henry, the rest are just GET SHIT DONE masters
CoinWire Admin: Alrighty, confidence level +1000%
Q3: SWEAT currently is a successful Web2 fitness app, why did you decide to migrate to Web3? What do you hope to achieve and bring to Web3?
Ofir Avigad: Sweat Economy’s vision to make an open economy of movement began in 2016 with a Web2 app, Sweatcoin. Sweatcoin has since become the most popular Health & Fitness app of 2022, with 110M+ users. Now, Sweat Economy is leveraging its user base and experience to launch SWEAT, a cryptocurrency, which will power the Sweat Wallet app. Tbh you can just monetize users 2-10x more in web3 than in web2. Blockchain enables us to do so many more things than the app store does
CoinWire Admin: So with the same goals, visions that you currently have for the Sweatcoin app (promote health and fitness), you integrate Web3 so that you and users can be more incentivized. Sounds wonderful to me!
Ofir Avigad: Web3 = bigger rewards = larger user base over time
CoinWire Admin: With that being said, let’s dive in toe SWEAT token and its use cases:
Q4: About SWEAT Economy functionalities: What can we do with SWEAT? How do we earn step by step?
Ofir Avigad: So first of all, you get 1 SWEAT for every 1,000 steps, max of 5 SWEAT per day. After that you keep earning for your steps, just you’re earning Sweatcoins web2. The best use case for SWEAT is to stake it – we have SICK rewards: Airpods, macbooks, world cup tickets in football. You access the prize draws by staking more and more SWEAT. And of course I mean you can always sell your SWEAT
CoinWire Admin: Talking about the previous launch you had 2 days ago, can you walk us through the process of converting the Sweatcoin to SWEAT?
Ofir Avigad: One does not convert Sweatcoin to SWEAT. Sweatcoins are the loyalty points of Sweatcoin app, and they keep 120M users strong. If you also downloaded your Sweat Wallet, you receive SWEAT tokens instead of Sweatcoins. Sweatcoins are not a cryptocurrency. They are locked into the Sweatcoin app. SWEAT tokens on the other hand are a crypto. So it’s kind of like how you can’t convert airmiles to crypto you know?
CoinWire Admin: That makes sense, I don’t know why I thought we could 😂 Probably reading it wrong somewhere. Thank you for clearing that up!
CoinWire Admin: Regarding the prize draw, is there a minimum amount we have to stake?
Ofir Avigad: Minimum is 5 Sweat, so that’s 1 day of walking haha. People who had Sweatcoins received a 1:1 airdrop into Sweat tokens 2 days ago. It was a once in a lifetime promo to get our Sweatcoin community to follow us into crypto. Millions took that opportunity
CoinWire Admin: 5000 steps? 😂😂 I only walk like 100. Man, I need to step up my walking game. Right, so:
Q5: How do you avoid high SWEAT inflation? Any burn/buybacks or more utilities in the future?
Ofir Avigad: We will be announcing today or tomorrow our buy and burn pledge. It will be significant. As time passes, and more SWEAT is minted with steps, it will become more and more rare. So now 1,000 steps = 1 SWEAT. Later it will be 1,500 steps = 1 SWEAT, and so on, gradually. Also, there is an inactivity fee, so if a user stops walking, and stops engaging, their SWEAT will start to be burned automatically
CoinWire Admin: So we better get up on our a$$es and start walking with SWEAT then!! And the beautiful thing is, you’re connected to health apps on ios and android, so people don’t have to open the app all the time while walking. It can automatically register for you. But can you touch on this feature more? Are the steps counted the same in the Web3 version?
Ofir Avigad: Yeah I as a marketer love ”selling” this app. You download it, put it in the background, and it works for you. That’s IT. You CAN if you want to, do a lot more. Yeah steps = steps. You must have both apps… Sweatcoin web2 counts your steps, and Sweat wallet web3 gives you the tokens
CoinWire Admin: Easy as that fam! Alright! Let’s talk about something that’s going to hype the community even more:
Q6: What are some of the impressive milestones you’ve achieved up to date?
Ofir Avigad: So many :))))
CoinWire Admin: Hahaha
- 13M+ wallet waiting list before TGE.
- 2M+ wallets downloaded registration during TGE week.
- Sweat Wallet ranked Top-5 Finance app in more than 50 countries and a Top-5 app overall in quite a few of those. In fact, there are multiple cases where Sweat Wallet and Sweatcoin are both in the Top-5 overall.
- Listed on 11 global CEXs as of now and 2 DEXs: OKX, FTX, KuCoin, Bybit, Gate.io, Huobi, MEXC, Bitfinex, AscendEx, Swissborg, Bitget, Uniswap, Ref.
Yeah Sweatcoin is killing it 🙂
CoinWire Admin: You’ve been talking about the launch as a super successful event, but if you can:
Q7: What can we expect from SWEAT Economy in the near future?
Ofir Avigad: So, we have yet to release a lot of core features:
- NFT games where you can compete with other people who walk more (maybe you should start training man?)
- Fiat <> Crypto buy crypto, sell crypto on the wallet
- Prize draws with partnerships from top blockchain companies…. Users will be able to get free NFTs / premium subscriptions through the app
And then I’d like to speak about the future. We are planning to allow users who want to – to share their data with insurance companies… to get a cheaper insurance bc they can prove they are active and healthy. And we want to partner with companies like FitBit / Apple / other movement validators…. so that they reward their users with SWEAT as well
CoinWire Admin: Incredible man, and to be honest, I have no doubt you’re gonna accomplish it all, since you’ve already done it with the Sweatcoin, no doubt we’re going to expect even bigger things coming from SWEAT Economy
Ofir Avigad: We have 120 employees. Yesterday we had a 15 person dinner, and half the people have been here for more than 3 years. This is a super efficient company. And we’re moving faster than ever right now
CoinWire Admin: Damn, talking about an amazing working environment
CoinWire Admin: With this we are now at the end of our AMA session with SWEAT🔥🔥🔥
Time for wrapping up, any last words you would like to say to our community?
Ofir Avigad: Crypto should not be just for rich people – but for everyone who wants to learn, and walk into the future. By being a free app we are working to get the world not just more physically active, but also to allow millions of people to earn their first crypto. Help us spread the word ❤️
CoinWire Admin: Of course man, SWEAT is something else for sure. I have to say this is the first Fitness Web3 app that I downloaded and actually kept using since
Ofir Avigad: Awesome, keep it up!
CoinWire Admin: It’s incredible what you are building in Web3 with SWEAT man, thank you so much Ofir Avigad and the SWEAT team for this AMA opportunity. Congrats on everything and best of luck to your future endeavors!