The Sweat Economy is the popular Health and Fitness app behind the web3 move-to-earn project Sweatcoin. The company just announced on Twitter that they have raised $13 million in funding to date. A number of leading blockchain investors joined the most recent funding round, including Electric Capital, Spartan Capital, OKX Blockdream Ventures, Swissborg, and GSR Ventures. Existing investor Goodwater Capital also participated.
The company stated that the funds will go towards expanding The Sweat Economy ecosystem and transforming it into a web3 on-ramp for health and fitness enthusiasts. The Sweat Economy said that they are aiming to onboard the next million users to crypto by rewarding their daily physical activity with $SWEAT – their new cryptocurrency. Since announcing its re-launch in April, The Sweat Economy has seen over 11 million non-custodial wallets created as anticipation builds for its web3 application.
