Sweatcoin - Pay To Move's Silent Success
Inside Crypto
English - November 14, 2022 01:00 - 42 minutes - 97 MB - ★★★★★ - 5 ratingsInvesting Business News Business News Homepage Download Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed
Hi everyone, we are back with another episode of our podcast allowing you to get to know people working behind the scenes of the crypto industry. Today we are joined by Oleg Fomenko, one of the co-founders of Sweatcoin and the Sweat economy. An app with over 120 million users encouraging people to get out there and build up a sweat.
Welcome to the one hundred and thirteenth episode of the Inside Crypto Podcast. This episode was recorded on October 31st 2022. Today we dive into the silent success story of the pay-to-move movement. Oleg explains how they are building a health and sustainable future for everyone.
Thanks everyone for listening and don’t forget to tune in next week where we interview someone else in the cryptocurrency universe.
Topics Covered Today:
Oleg, I think most people are familiar with Sweatcoin given all the media exposure you have received in the last year. What I would like for you to explain to our audience is what is the difference between Sweat and sweatcoin?
On the subject of differences, what about Stepn? Are you competing for the same users? Why do you think you both have gained so much traction?
Why do you think you onboarded so many users so fast? How do you plan to onboard the next 100 million users?
I want to bring this up early so we can get it out of the way. There have been questions about sustainability. How do you address those? Your litepaper shows that it will be increasingly difficult to earn SWEAT as time goes on. Won’t that disincentivize users?
Why did you partner with NEAR as opposed to other blockchains?
How does the inactivity fee work? Is it automatically deducted from your wallet? Is it charged? Are users okay with that?
On the roadmap, it says that you are moving to a DAO next year? How is that going to work? Will you be able to react fast enough to market changes in this structure?
Lastly, what is the most exciting thing if you had to choose one about sweatcoin and your future plans?
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