Sweat Economy to Give Away Free Tesla as Sweatcoin (SWEAT) Soars 12%

The walking crypto app Sweatcoin presents its biggest giveaway with a Tesla Model 3 up for grabs.

White Tesla car parked in front of Sweat Economy logo.

Sweat Economy, the company behind the super-popular walk-for-crypto app Sweatcoin, announced a prize draw for a Tesla Model 3. The electric car can be won via the Sweat Wallet app, which has a rewards section where users must manually opt into the prize draw. Moreover, the winner will be disclosed on 13th January 2023.

How to Win a Tesla

According to the guidelines outlined by Sweat Economy on Medium, users who want to participate in the prize draw for a gorgeous Tesla 3 must stake at least ten Sweatcoins in Growth Jars. In the ecosystem of the Sweat Economy, Growth Jars are used to store the mint-while-you-walk cryptocurrency for a certain period with up to 23% yield.

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Besides, there are plenty of other rewards on Sweat Wallet, including tickets to The Weeknd in London, a four-day pass to the biggest electronic music festival Tomorrowland 2023, autographed jerseys of legendary soccer players Pele and Diego Maradona, and the new iPhone 14 Max. As all staking rewards require a certain amount of Sweatcoin locked in Growth Jars, the Sweat Wallet reached a milestone of 2,500,000 Growth Jars created by the first day of the New Year.

SWEAT Grows 12% Bigger

Sweatcoin had been battered by the unforgiving bears of the intense crypto winter almost right after launch. SWEAT peaked at $0.091 on September 14th, 2022 – just a day after the cryptocurrency went live.

However, the success was short-lived, as $SWEAT is now down by 87.5% from the previous all-time high (ATH). At press time, the walk-to-mint cryptocurrency is priced at $0.01128844, according to CoinGecko. Recently, the first-ever walk-for-crypto coin enjoyed 12% weekly gains. This happened due to the success of Sweatcoin’s freshly launched Sweat hero NFT leg battle.

On the Flipside

  • Some users on Twitter report problems opting into the prize draw. 
  • Usually, the issue is related to the 0.1 $SWEAT fee required upon opting in.
  • This happens because the staked $SWEAT doesn’t count toward the available balance.
  • For users experiencing the issue, Sweat Economy suggests going for a walk.
  • Tesla Stock is down by 29% since last month.
  • Sweat Wallet’s exchange feature is still not launched.

Why You Should Care

Sweatcoin is the most popular health and well-being app in 66 countries and the most downloaded Web3 mobile app. Currently, Sweatcoin and Sweat Wallet has over 120 million active users worldwide.

Learn more about other prominent Web3 projects:

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This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

Author
Tadas Klimasevskis

Tadas Klimaševskis is a Lithuanian journalist at DailyCoin, specializing in covering the lighter side of the crypto industry such as memecoins and pop culture in the metaverse. He has experience as a music artist, English language teacher, and freelance writer, and uses his creative writing skills to summarize valuable information in his work. He is also a strong believer in the potential of blockchain and spends his free time listening to music, traveling, and watching basketball games.