Sweatcoin 2024 blockbuster project: Can you really get rich by exchanging steps for tokens?

Recently, the crypto world has started to buzz again – Sweatcoin, the “walk-to-earn” application, has gained significant popularity. Data shows that by May 2024, there are over 120 million global users who have collectively mined 5 billion SWEAT tokens. At first glance, it seems very tempting, but is this project really as good as advertised?

What is Sweatcoin?

In simple terms: a Move-to-Earn application, walking = mining. You earn 0.95 Sweatcoin for every 1000 steps you take, and later upgrade to the on-chain Token SWEAT. No need for a computer, no need for a graphics card, just two legs — this is its selling point.

Compared to traditional mining that requires electricity and hardware, Sweatcoin is indeed a bit more “environmentally friendly”. But this has also sparked a discussion: is this innovation or just a gimmick?

Token Economics: Looks Good, But There Are Pitfalls

Core Data:

• Initial mining speed: 1000 steps = 1 SWEAT
• One year later: Decay to 0.33 SWEAT/1000 steps
• Five years later: Further decrease to 0.02 SWEAT/1000 steps
• Daily Limit: 5 SWEAT, unless you lock tokens to increase the limit.

The problem arises: Tokens are destined to devalue. The official design of the decay mechanism is to control inflation, but this means that the SWEAT you earn now will be discounted in six months. Moreover, when the supply increases and user growth slows down, there will be significant price pressure. The lessons from STEPN are right before our eyes.

Can you really make money with this?

Theoretical Earnings: 10,000 steps a day ≈ 10 Sweatcoins, at the current price (which fluctuates greatly) it might be a few yuan. In a year? Just a few hundred.

Real Dilemma:

1. There is significant pressure on the devaluation of the Token (as mentioned above)
2. Withdrawals have a black hole (limited exchange support)
3. Market liquidity is generally low (not globally circulated like BTC)
4. Can the growth rate of new users be maintained? (What is the driving force behind the continuous decline in earnings for old users?)

Where are the highlights?

✓ Truly Incentivizes Health: Research shows that user activity levels increased by 20% (2018 British Journal of Sports Medicine)

✓ The ecosystem is expanding: 600+ partner brands (Apple, Audible, NHS, etc.), your Token can buy something.

✓ DAO Direction: There are plans to move towards decentralized governance, which is the right direction.

Sweatcoin vs STEPN: Who Wins?

Sweatcoin is friendlier, while STEPN is more “ambitious”.

Can I invest?

If you want:

• Earn some pocket money casually → You can give it a try (after all, you have to walk anyway)
• Expecting to get rich → Wake up, stop dreaming
• Long-term holding of SWEAT appreciates → Be aware of the risks.

The most realistic attitude: Treat it as a fitness incentive tool, sell the Token earned, don’t be greedy. Only when the ecosystem matures and the user base stabilizes does this matter have real potential.

Future Highlights

✓ Added new sports types (cycling, swimming) to expand mining scenarios

✓ NFT Market (in planning)

✓ More brands integrated

⚠️ But the core bottleneck hasn't been resolved: Supply continues to increase vs can demand keep up

Bottom line: Sweatcoin is an interesting experiment, but don't treat it like an ATM. This is “play to earn”, not “get rich quick”. The market has already seen the lessons from STEPN – the long-term operation of the Move-to-Earn track is very challenging.

Someone asked if it's worth playing? My answer is: Installing the app for free is indeed harmless, just consider it an extra “walking cashback” app. But don't walk more because of this and live less — that would be putting the cart before the horse.