It Pays to Walk
Sweatcoin was created with the mission to motivate people to be more physically active and fight the obesity problem that costs the global economy billions of dollars in direct costs every year.
In order to motivate people to move more, Sweatcoin identified the need to overcome 'present bias', a term used in behavioural economics to describe humans tendency to ignore things that don't have an immediate effect on us. The solution, a fitness app that converts outdoor steps into a virtual currency (“sweatcoins”), which can be spent within the app's marketplace on real goods and services (providing immediate gratification).
As of now, more than 400 vendors in the UK, US, EU, Canada, and Australia accept sweatcoins as a means of payment via the app's marketplace. Since launch, the Sweatcoin app has had over 25M downloads with 5M users using the app on a weekly basis
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