Chain Abstracted

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

Listen Later

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


    Hosts:

    Jared Thompson https://twitter.com/jarednotjerry1

    Altan Tutar https://twitter.com/mraltantutar

    Website: https://chainabstracted.com/

    Connect with NEAR

    Website: https://near.org/

    Twitter: https://twitter.com/NEARProtocol

    DISCLAIMER

    The content herein is provided for educational, informational, and entertainment purposes only, and does not constitute an offer to sell or a solicitation of an offer to buy any securities, options, futures, or other derivatives related to securities in any jurisdiction, nor should not be relied upon as advice to buy, sell or hold any of the foregoing. This content is intended to be general in nature and is not specific to you, the user or anyone else. You should not make any decision, financial, investment, trading or otherwise, based on any of the information presented without undertaking independent due diligence and consultation with a professional advisor.  NEAR Foundation and its agents, advisors, council members, officers and employees (the “Foundation Parties”) make no representation or warranties, expressed or implied, as to the accuracy of the information herein and expressly disclaims any and all liability that may be based on such information or any errors or omissions therein. The Foundation Parties shall have no liability whatsoever, under contract, tort, trust or otherwise, to any person arising from or related to the content or any use of the information contained herein by you or any of your representatives. All opinions expressed herein are the speakers’ own personal opinions and do not reflect the opinions of any entities.

    ...more
    View all episodesView all episodes
    Download on the App Store
    Chain AbstractedBy chain abstracted