Hassan Maishera
New survey results from Sweat Economy have revealed that incentivization and gamification have emerged as strong driving forces behind the adoption of Web3 solutions.
Sweat Economy’s Survey Shows Interesting Results
Sweat Economy has become one of the most downloaded health and fitness apps in the world. With over 130 million users and a 44.25% year-on-year increase in new signups, Sweat Economy’s Sweatcoin became 2022’s most-downloaded health and fitness app globally.
According to the press release shared with Cryptowisser, the Sweat Economy team surveyed American and British citizens earlier this year. The survey result indicated that nearly 60% of the American respondents preferred walking as their go-to form of physical exercise.
Furthermore, 60% of respondents confirmed that they would walk more if it meant paying less for health insurance. In addition to that, nearly 21% of the British respondents said that they are actively trying to find new ways to exercise this year that don’t require expensive gym equipment or memberships.
Collaborating the surveys, Sweat Economy’s data has shown how an increasing amount of people are attracted to the Web3 space because of incentivized programs:
At the moment, more than four million of their web2 Sweatcoin users opted into their new cryptocurrency- SWEAT, in less than four months since its launch. According to the research, most new users range between 18 and 44 years old and are 72.59% male and 26.36% female.
Sweat Economy rewards users for physical activities
According to Sweat Economy, it pays users for physical activity, unlike the global trend of wasting billions of dollars on unused gym memberships and exercise equipment.
The team explained that this unique approach of Sweat Economy has been incredibly successful in attracting new users, with the survey indicating that 58.35% of respondents who entered the Web3 ecosystem in 2022 are new to cryptocurrencies, with $SWEAT becoming their first cryptocurrency.
Furthermore, the survey revealed that most of the first-time crypto owners surveyed are between 18 and 24. This growth can be attributed to the fact that joining the Sweatcoin ecosystem is free, and receiving $SWEAT tokens for all physical steps taken does not require any upfront investment, presenting the perfect opportunity to test the Web3 waters in a low-risk way.
The survey showcased that 58% of respondents have never owned crypto before. Of the smaller percentage that has, over 52% own less than $500 worth of cryptocurrency, with 37% owning less than $250. Also, nearly 86.96% of respondents confirmed that they had never owned any non-fungible token (NFT) before joining Sweatcoin. Finally, 72% of the respondents say SWEAT made them want to own more crypto, which shows that Sweat Economy is creating an appetite for crypto and flipping the narrative on expensive exercise lifestyles.
Around 80% of the respondents confirmed that receiving $SWEAT tokens as rewards for walking motivated them to move more.
The survey also revealed that 32.90% of users prefer “physical products” as rewards instead of additional cryptocurrency. The trend is one of the reasons why This is why Sweatcoin’s app and unique reward mechanism are witnessing a surge in user adoption.
Sweatcoin users can directly redeem their in-app rewards ($SWEAT) for branded products, digital services, and much more, emerging as one of the key drivers behind Sweatcoin user adoption.
Sweat Economy has been around since 2015 and promotes healthier living by encouraging people to move more. Sweatcoin, the most downloaded health and fitness app globally in 2022, incentivizes over 130 million users to move more by earning Sweatcoins, dubbed 'Airmiles for steps.'
