Tokenized Movement: A Trillion-Dollar Potential, says Sweat Economy Co-founder
Improving health and physical well-being is a common goal pursued worldwide. Many people make New Year’s resolutions to enhance themselves, with exercise being one of the most popular commitments. According to the Pew Research Center, 79% of Americans who made resolutions for 2024 focused on health, exercise, or diet. Studies indicate that the majority of people fail to follow through with their resolutions. In fact, the second Friday of January, known as “Quitter’s Day,” is when individuals are most likely to give up on their New Year’s goals. So, how can we encourage movement and exercise throughout the year?
Oleg Fomenko, co-founder of Sweatcoin and Sweat Economy, believes that providing immediate economic incentives in the form of crypto rewards is the answer. Sweatcoin is an app that tracks users’ steps and rewards them with points redeemable for experiences and products. Sweat Economy is the crypto ecosystem built on top of Sweatcoin, centered around the SWEAT token. In a podcast episode, Fomenko discusses the significance of movement, how to determine the value of a step, and the potential for a trillion-dollar industry based on tokenized exercise.
Fomenko emphasizes that human movement and physical activity have immense value for societies, yet they are often undervalued financially. Active individuals generally require less medical attention in the long term, benefiting healthcare providers, insurers, employers, and governments. There hasn’t been a concrete monetary value assigned to movement. Fomenko compares physical activity to attention, which now has a precise monetary worth thanks to companies like Google, Facebook, and Amazon. He believes that third parties would be willing to pay for physical activity because it increases productivity, longevity, and overall fitness.
Sweat Economy is taking steps to determine the monetary value of movement by issuing grants for researchers to study the worth of 10,000 steps. The project is partnering with the University of Cadiz and plans to collaborate with more universities soon. Fomenko anticipates that once the monetary value of physical activity is recognized, tokenized movement will become a significant economic force that will exponentially grow. Currently, Sweatcoin rewards users with SWEAT tokens for their first 5,000 steps. Using the analogy of the attention economy valued at $7 trillion, Fomenko questions why the movement economy should be any smaller.
In the future, Fomenko envisions a world where everyone is financially incentivized to move more. He believes the perception needs to shift from considering health expenditures as a cost to viewing them as a source of earning. Being healthier benefits not just the individual but society as a whole. Fomenko even suggests that movement and physical activity could be traded on major markets. His ideal future for Sweat Economy would be headlines like “physical activity value increases by 20% following the latest obesity report in the U.S.,” as it would indicate that SWEAT is recognized as the value of physical activity.
To delve deeper into Fomenko’s conversation, including his thoughts on the health effects of the metaverse, fraud prevention in the Sweatcoin app, and the value of health data, listeners can access the full episode on ‘s Podcasts page, Apple Podcasts, or Spotify.
11 thoughts on “Tokenized Movement: A Trillion-Dollar Potential, says Sweat Economy Co-founder”
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I’m excited to see Sweat Economy partnering with universities to study the monetary value of movement. 🎓📚 It’s a crucial step in recognizing the economic potential of tokenized exercise. 🏋️♀️💰 I hope that in the future, everyone will be financially incentivized to move more. It would be amazing to see movement and physical activity traded on major markets! 🌟💸
I appreciate Fomenko’s efforts to collaborate with universities and research the monetary value of movement. It’s important to gather concrete data to support this concept. 💡
I agree with Fomenko that society often undervalues the importance of physical activity. It’s not just about personal health, but it also has benefits for healthcare providers, insurers, employers, and governments. The idea that third parties would be willing to pay for physical activity because it increases productivity and overall fitness is fascinating.
I disagree with the idea of monetizing exercise. It takes away from the organic nature of physical activity and turns it into a transactional experience.
This is such an interesting article! I never thought about the economic value of movement before, but Oleg Fomenko makes a compelling case. It’s great to see initiatives like Sweat Economy working to assign a monetary value to physical activity. I love the idea of earning crypto rewards for exercising through the Sweatcoin app. It’s such a creative way to incentivize movement!
Fomenko’s vision of a future where everyone is financially incentivized to move more is intriguing. It could potentially lead to a society that prioritizes physical well-being and values a healthy lifestyle.
I highly doubt that providing monetary rewards is the solution to encouraging exercise. People need genuine motivation, not just financial incentives. 💸
There are already enough distractions and motivations in the world. Adding economic incentives to exercise feels unnecessary and detracts from the true purpose of staying active.
I find it concerning that everything these days needs to be tied to monetary value. The true value of exercise lies in its impact on our physical and mental well-being, not in how much money we can earn from it.
This is such an interesting concept! Incorporating economic incentives into exercise could really motivate people to prioritize their health and well-being.
I don’t think assigning a monetary value to movement will solve the issue of people failing to follow through with their New Year’s resolutions. It’s about mindset and commitment, not about money.