Sweatcoin has continued to record significant milestones throughout the year. In June, the platform crossed its 100 million users. The same month, the platform also announced they had successfully awarded more than $15 million worth of goods and services in the Sweatcoin marketplace.
However, despite all these milestones, the platform is yet to be fully launched and accessed on other popular exchange platforms. Therefore, many of its users, who are also holders of the cryptocurrency SWEAT, have been left with no avenue of trading.
Sweatcoin is a move-to-earn project that promises to pay its most active users with its token, which can be exchanged for goods and services on its marketplace. To keep everyone active, the platform can also punish its users for inactivity, motivating them to keep working out using the application.
Today, the platform continues to make significant moves in the market. The latest reports indicate that despite being built on NEAR, the SWEAT token will also be available as an ERC-20 token. Although you currently cannot purchase items with Sweatcoins earned on the platform, that is all about to change on September 12, when all Sweatcoin holders will be matched with the tokens and become tradeable.
Unfortunately, Sweatcoin has not yet hit the markets. Therefore, there is no way to determine its real value. Fortunately, reports indicate that this may not be the case for long, after the platform raised $13 million, part of it will pay Sweatcoin holders.
Also, despite the lack of data, once launched and accessible for trading, there is a high likelihood that the Sweatcoin price will be less than $0.01. Part of this is due to the high number of tokens already held by users, which will push its prices further downwards. Another reason is we are still in downward cryptocurrency markets. Therefore, the chances of investors not getting interested in the project is high.
This post was last modified on %s = human-readable time difference 17:15