Gate News message, April 16 — Sweat Economy, a Web3 move-to-earn (M2E) ecosystem built on NEAR Protocol, has been granted a patent for its movement verification system and method in Nigeria. The company is also pursuing patent applications in Europe, according to a statement to Technext.
Sweat Economy’s Sweatcoin app verifies users’ steps, with $SWEAT tokens subsequently minted in the Sweat Wallet mobile application. The platform allows users to earn tokens through physical activity while offering features such as Growth Jar for earnings growth, Learn & Earn, Sweat Hero NFT game, and prize draws. The company is particularly popular among Nigerian users.
CEO Oleg Fomenko stated that Nigeria is among the first regions globally to recognize the value of Sweat Economy’s movement validation algorithm. “We have developed a precise and energy-efficient way to remove all attempts at faking, hacking, or gaming the system,” he said, emphasizing the company’s focus on making physical activity valuable without negatively affecting device battery or server energy consumption.
The patent approval addresses previous doubts from users and partners regarding the reliability of Sweat Economy’s movement verification capabilities. The company says the nine-year development of Sweatcoin has created strong proprietary expertise in movement validation. The approval paves the way for patent applications in Europe and other regions, strengthening Sweat Economy’s position in the health and fitness industry.
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