Physical Activity Economy: Earning Through Movement w Oleg Fomenko from Sweat Economy Chain Abstracted

Oleg Fomenko is co-founder of Sweatcoin and Sweat Economy. Sweat Economy,, tracks users' physical activity, verifies it, and converts it into value through Sweatcoins and the Sweat Wallet app. This system enables users to monetize their movement, providing an innovative approach to incentivize physical activity. The project leverages blockchain technology to secure data and prevent fraudulent activities while promoting a healthier lifestyle.

Oleg https://twitter.com/oleg_fem?lang=en

Sweat Economy

https://twitter.com/SweatEconomy

https://sweateconomy.com/

Takeaways


Sweat Economy tracks users' movement and converts it into sweat coins, which can be redeemed for rewards.
They have multiple revenue streams, including partnerships with brands, advertising, and premium subscriptions.
Sweat Economy prioritizes user privacy and does not sell user data.
The company believes that infrastructure investment in Web3 will eventually shift towards consumer-focused applications. Chain abstraction is important in the NEAR ecosystem as it allows users to have control over their assets on different chains.
Building for the mass market requires a focus on mobile
Capital allocators should prioritize active users over TVL as a metric for success.
The movement economy has the potential to create value for individuals, insurers, healthcare providers, employers, and countries.



Timestamps

00:00

Introduction to Sweat Economy

02:19

Walking into Crypto with Sweat Economy

04:13

Earning and Winning with Sweat Economy

05:59

User Privacy and Data Protection

13:05

Revenue Streams of Sweat Economy

15:12

User Data and Ethical Practices

25:16

Chain Abstraction and the Near Ecosystem

31:25

The Shift to Consumer Crypto

36:31

Building for the Mass Market: Mobile

38:53

Prioritizing Active Users over TVL

40:59

The Future of Sweat Economy

45:06

The Value of the Movement Economy



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