Tokenized movement will be worth trillions — Sweat Economy co-founder

The NFT Unicorn b9183b21-bbdd-4907-a7ed-f29820bfbf55 Tokenized movement will be worth trillions — Sweat Economy co-founder Crypto News

Improving one’s health and physical well-being is one of the most commonly pursued goals all around the world. At the turn of the new year, many people make New Year’s resolutions to improve themselves in some way, and one of the most common resolutions is to exercise more.

According to the Pew Research Center, 79% of Americans who made resolutions for 2024 included at least one focused on their health, exercise or diet.

However, studies have shown that the vast majority of people who make resolutions do not ultimately stick to them. One 2016 study found that only 9% of Americans who made resolutions actually kept them. In fact, the second Friday of January is known colloquially as “Quitter’s Day,” which is when people are reportedly most prone to give up on their goals for the new year.

What can be done to help encourage movement and exercise throughout the year? According to Oleg Fomenko, co-founder of Sweatcoin and Sweat Economy, the answer is to provide an immediate economic incentive in the form of crypto rewards.

Sweatcoin is a move-to-earn app that tracks users’ steps and rewards them with points that can be redeemed for experiences and products, while Sweat Economy is the crypto ecosystem being built atop it, centered around the SWEAT token.

On episode 14 of The Agenda podcast, host Jonathan DeYoung spoke with Fomenko about the value of movement, how to quantify what a step is worth, and what a future economy might look like where tokenized exercise is a trillion-dollar industry.

How much is a step worth?

Fomenko told DeYoung that human movement and physical activity are incredibly valuable for societies, yet they remain highly undervalued financially. For starters, more active people generally require less medical attention in the long term. When people are healthier, the whole country benefits financially, Fomenko argued:

“Healthcare providers, insurers, employers, ultimately governments are benefiting tremendously from you being physically active. You’re going to live longer, and in the most cynical, even rational, you will pay more taxes because you will be economically active for longer.”