Crypto Altruism Podcast Episode 122 - Sweat Economy - Building “The Economy of Movement” with Web3
In episode 122, we’re excited to welcome Oleg Fomenko, Co-Founder of Sweat Economy, an OG in the move-to-earn space, with a mission to reward movement to inspire a healthier, and wealthier planet. We discuss how Web3 tools can incentivize healthy actions, the evolution of move-to-earn, onboarding hundreds of millions of users to Web3, and much more.
Three Key Takeaways
“Whole industries are born when you can break a trade-off that's considered standard.” Web3 and move-to-earn are disrupting the trade-off that one must pay to engage in physical activity, by instead rewarding them for the value they create by exercising.
When building Web3 applications, it is important to not only engage those that are crypto-native, but also those that are new to crypto, and who are from communities that are traditionally excluded from tech, and providing them with accessible on-ramps.
While many early examples of tokenization have involved tokenizing existing assets – such as the US dollar – a new asset class is being created that involves the tokenization of value-creating activities – such as exercise.
Follow Oleg and Sweat Economy
Episode Time Stamps
02:20 - What was your “Ah hah” moment that got you excited about cryptocurrency and web3 in the beginning?
08:10 - Can you please give listeners a high-level overview of Sweat Economy’s mission?
13:50 - The $SWEAT coin is the currency behind this “movement economy” – tell me more about the tokenomics of $SWEAT, and what users can do with the tokens they earn.
21:05 - Sweat Economy is a great example of a “move to earn” project – can you please explain what “move to earn” is, and how you see this concept shaping wellness in the coming years?
30:15 - You have already accomplished so much, including the onboarding of 120M users, and the development of key services like a fiat on ramp, staking, a learn and earn education system and more. I understand that you have exciting plans for the future – talk to me about your roadmap and what’s next for Sweat Economy?
35:55 - What’s the best way for listeners to learn more about Sweat Economy?
38:00 - To wrap things up, if you could name one thing that excites you most about the social impact potential of web3, what would it be and why?
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DISCLAIMER
While we may discuss specific web3 projects or cryptocurrencies on this podcast, please do not take any of this as investment advice, and please make sure to do your own research on potential investment opportunities, or any opportunity. We host a variety of guests on this podcast with the sole purpose of highlighting the social impact use cases of this technology. That being said, Crypto Altruism does not endorse any of these projects, and we recognize that, since this is an emerging sector, some may be operating in regulatory grey areas, and as such, we cannot confirm their legality in the jurisdictions in which they operate, especially as it pertains to decentralized finance protocols. So, before getting involved with any project, it’s important that you do your own research and confirm the legality of the project. More available HERE.
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