Click here to browse other Frequently Asked Questions. Jan 2018 Update: It was just announced that Sweatcoin got $5.7 million in funding from investors. This is a good example of how Sweatcoin makes money to give you rewards/discounts for your steps! But keep reading below to learn more.
If you’re like me, one of the first things you wondered was, “How is this made possible? What’s the catch?” The catch is that Sweatcoin is providing a healthy venue for product manufacturers to promote their product in a fun give-away environment. So that means, if a computer monitor was placed on the Sweatcoin app as an offer, users would see the computer monitor in their Offers feed. This is a form of advertising that spreads brand awareness. Companies are more than willing to give away several big-ticket electronics if it meant thousands, or tens of thousands of people would be exposed to the brand.
This forms a healthy competition – now many big companies are competing to get their products in the face of consumers. At the same time, this makes investors very interested. Investors see the value behind Sweatcoin and are willing to invest money in the company to help them release even better products into the offers section. Therefore, the value of Sweatcoin continues to increase.
Right now, there are only a half dozen or so offers available to redeem. They change every couple of days. In the future, we’re likely to see hundreds of offers available at any given time. And as competition becomes healthy and stable, we’ll find that the value of Sweatcoin increases.
In conclusion, Sweatcoin is a HIGHLY promising app that rewards its users with free gifts and gift cards for most forms of aerobic physical activity! If you don’t already have it, download it today and start collecting your coins!