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Here are my thoughts about this new NEAR-based token that’s coming in two weeks.
is the token related to the Sweatcoin project. This project basically gives you a virtual coin (not a crypto) in exchange for your physical activity. Right now the ratio is 1000 steps per Sweatcoin (with a daily cap of 10 Sweatcoins per day). That means that you would need to walk around 6-7 kilometers (4-4.5 miles) per day to reach that goal, which is GOOD for your health, cause it would take you around 30 minutes to a couple of hours depending on your pace and stamina, and that’s what we all hear is a healthy amount of exercise.
This virtual coin can be exchanged for goods and services, as well as gift cards: From language classes, to subscription plans, eco-friendly products, participations in auctions, and so on. You can also donate them, although, for me, it’s not so clear how that is turned out as money, but they seem pretty trustable.
Now, for the good part, the crypto SWEAT. You can peg 1:1 your sweatcoins if you download the wallet and opt in for the TGE (Token Generation) which takes place in two weeks. First you need to download the Sweatcoin app here, go to the menu below the screen and select the icon with the shopping bags, click on crypto and “learn more”. Once you opt in for that, they will give you a backup key (check your mail), keep it there, download the Sweat Wallet, go back your mail in your cell phone, the key is to be written at the SWEATCOIN app, and once you do that, you log in into your SWEAT account FROM THE MAIL.
Ok, going further that DIY tutorial, my intended reasons with this article is to give you a brief analysis on what can you expect from this project
At the moment I’m writing this, around 25 billion tokens have been generated. You can check that in real time at: https://sweatco.in/
That can give us a hint in terms of supply, if we compare the token with coins that have around 20-30 billion units circulating, we can get an idea of how much we can “predict” the price of this currency.
You can see that HBAR, CRO and XLM have around that amount of circulating supply (coinmarketcap data) and they are in the 10 cents zone (6.5 to 12 cents). That means that my (so far earned) 540 tokes would be exchanged for 54 dollar in the near (pun intended) future, which is not bad for just WALKING.
Another analysis we can bring on is based on the type of token, you can categorize it either in the sports niche or the Near Protocol Ecosystem. In the case of the sports category, the prediction is a bit pesimistic, since emerging projects are only around the fractions of cents. In the case of Near Protocol, we are ranging from half a cent to a decent six cents value.
Now the big scenario would be hoping for this token to match market caps of the elite cryptoleaders. Being top 10 as DOGE, would raise the price to 33 cents roughly. Being top 5 as BNB would be a 1.80 dollar mark for the SWEATs. Matching ETH would be worth 7.50 bucks per token and reaching BTC levels would skyrocket the price to over 15 dollars.
As you can see, there are plenty of situations we can foresee for this project. The best case is that our 150 tokens we can generate monthly (oh yes, once the token is launched, you can only mint up to 5 tokens per day, and that would get harder and harder as time goes by) would give us over 2k, which is a pretty awsome deal. The worst case is that the value of those tokens by the end of the month is just a couple of cents. If I would have to do a bold prediction, I would say that the coin is going to be around the 5-10 cents per token, with peaks of 20-30 cents and getting back to the 10-12 cents mark. That could happen in weeks, months or years, but that would be my safe guess and would imply an extra income of 15 bucks per months (which is a relief in places like Colombia or LATAM). Thanks as always for reading me, if you want to support me you can follow me and sign up at Swatcoin with my affiliate link as a way to say "thank you"
