Category Archives: Allgemein

• Sweat Economy is a web3 project that seeks to unlock the economic value of movement.
• It operates a Web2 application called Sweatcoin app which has been available in the US market since 2016 and it launched its native token called SWEAT and its Web3 wallet application called Sweat Wallet.
• Starting September 12th, 2023, US residents will be able to install the Sweat wallet application and receive their allocations of SWEAT in proportion to their current ‚Sweatcoin‘ holdings.

Sweat Economy: Unlocking The Economic Value Of Movement

Sweat Economy is a web3 project that seeks to unlock the economic value of movement. Since 2016, it has operated a Web2 application called Sweatcoin app which rewards millions of US users with loyalty points called ‚Sweatcoins‘ for the steps they make when walking. Last year in September, Sweat Economy launched its native token called SWEAT alongside its Web3 wallet application called Sweat Wallet but was unable to pass regulatory barriers in the US.

US Launch Date Announced

The launch of Sweat Wallet and its native token, SWEAT, is scheduled to coincide with the first anniversary of the venture’s global launch on September 12th 2023. Starting on that date, US Sweatcoin app users will receive their allocations of SWEAT in proportion to their current ‚Sweatcoin‘ holdings and can start earning more SWEAT tokens for their steps right away. Tokens will come from existing token allocations rather than additional emissions.

Founder’s Comments

Commenting on the new development, Founder Oleg Fomenko said: „It is a great pleasure to finally bring our services to US customers after being unable to do so due to regulatory hurdles we faced last year.“ He went on further expressing his excitement about bringing liquidity solutions such as asset-backed lending pools powered by $SWEAT tokens for both individuals and institutions in 2021/22 roadmap goals.

Sustainability Focus

In addition to providing economic incentives for physical activities through its loyalty point program, Sweat Economy also focuses on sustainability initiatives such as carbon offsetting programs and partnering with organizations working towards making cities greener places. These initiatives are now available globally including United States following successful negotiations with various governments regarding local regulations related to digital assets trading and utilization within this region.

Conclusion

Following a previous unsuccessful attempt at launching its Web3 wallet applications and native token (SWEAT) in the United States due to regulatory hurdles, Sweat Economy is set re-launch itself later this year coinciding with its first anniversary launch date – September 12th 2023 – allowing US residents access into receiving their allocations as well as start earning more tokens through physical activities tracked by the app’s loyalty point program.

• Binance CEO Changpeng ‚CZ‘ Zhao comments on the recent regulatory action against Binance USD (BUSD) and its issuer Paxos, noting that the market cap of BUSD has declined by over $2.45 billion and most of it has gone into Tether’s stablecoin.
• CZ notes that at least $2.37 billion in BUSD value had moved to USDT as traders sought to move capital from the Paxos-issued token, indicating a shift in the stablecoin landscape.
• Meanwhile, Tether has released another $1 billion of USDT and Binance has minted $50 million of True USD (TUSD), helping to push the price of TrueFi (TRU) higher.

Regulatory Action Against BUSD

The market cap of Binance USD (USD) stablecoin has declined by $2.45 billion after a regulatory order stopped Paxos from issuing BUSD. Over $2.37 billion has moved from BUSD to Tether (USDT).

Binance CEO Comments On The Situation

Binance CEO Changpeng ‚CZ‘ Zhao commented on this event saying that Tether has benefited most from the situation but also reiterating that Binance does not issue BUSD. He noted that at least $2.37 billion in BUSD value had moved to USDT as traders sought to move capital away from the Paxos-issued token, indicating a shift in the stablecoin landscape.

More Money Entering The Market

Meanwhile, Tether has released another $1 billion of USDT and Binance has minted $50 million of True USD (TUSD), which is helping to push up the price of TrueFi (TRU).

Landscape Shifting

CZ noted that there’s a shift occurring in the stablecoin market and he believes this rotation of capital into world’s largest stablecoin is an indication of said change.

• In 2022, the cryptocurrency market experienced a major crash, with Bitcoin (BTC) losing over 75% of its value and many altcoins losing up to 90% of their value.
• The crash was partially caused by the bankruptcy of FTX, which was the second-biggest centralized exchange (CEX) at the time. Treasury mismanagement and the embezzlement of user funds through Alameda Research, a hedge fund under the control of Sam Bankman-Fried (SBF), were the main culprits.
• Despite the crash, Web3 continues to grow and new projects such as Metacade (MCADE) are emerging as potential investments for the future.

The cryptocurrency market experienced a major crash in 2022, with Bitcoin (BTC) losing over 75% of its value and many altcoins losing up to 90% of their value. The catastrophic effects on the market were felt even more when FTX, the second-biggest centralized exchange (CEX) at the time, announced bankruptcy in the wake of the falling prices. This caused the whole market to drop even further, leading to a significant decrease in investor confidence.

The main cause of the FTX collapse was due to treasury mismanagement from Sam Bankman-Fried (SBF) and the embezzlement of user funds through Alameda Research, a hedge fund under SBF’s control. These events highlighted the inherent weaknesses of the industry, prompting investors to be more cautious when investing in cryptocurrency projects.

In spite of the crash, Web3 continues to grow, with new projects such as Metacade (MCADE) emerging as potential investments. MCADE is a blockchain-based gaming platform that allows players to compete in tournaments and earn rewards. It also has a marketplace for gamers to buy and sell in-game items and an open source development platform for developers to create new games.

The MCADE platform is built on a decentralized network, and the team behind it is confident in its ability to withstand the market downturn. This is because the platform has built-in mechanisms to prevent malicious actors from taking advantage of the system. These include using a Proof-of-Stake consensus mechanism, a secure game distribution system, and a decentralized identity system.

Moreover, MCADE has also taken steps to ensure that its platform is compliant with all applicable regulations, such as the European Union’s General Data Protection Regulation (GDPR). This means that all user data is encrypted and kept secure, and user privacy is protected.

The potential of MCADE has caught the attention of many investors, who are now looking to the platform as a potential investment for the future. MCADE is a promising project that could help the cryptocurrency market recover from the great crash of 2022 and provide a secure platform for gamers and developers alike.

• The Web3 market is expected to grow at a CAGR of 44.8% between 2022 and 2030.
• North America remains the largest market for Web3, while Asia Pacific is the fastest growing.
• Web3 growth is driven by developments in blockchain technology, AI, and ML.

The Web3 market is set to experience significant growth over the next eight years, according to research firm Straits Research. The market size of Web3, the third generation of the internet, stood at $1.8 billion in 2021 and is expected to grow at a compound annual growth rate (CAGR) of 44.8% between 2022 and 2030.

Web3 stands to benefit from further developments in blockchain technology, artificial intelligence (AI), and machine learning (ML). These developments will create growth opportunities in areas such as browsing, social media, and data storage. North America remains the largest market for Web3, while Asia Pacific is the fastest growing.

The Web3 market saw significant growth in 2021, with the blockchain industry overall in bullish territory as cryptocurrency prices skyrocketed. However, the 2022 bear market has had an impact on the entire industry, slowing down interest and activity. As such, the next few years will be essential for the continued growth of the Web3 market.

The success of Web3 will depend on the development of the three key pillars of AI, ML, and blockchain technology. AI and ML are being used more and more in the Web3 landscape, enabling users to make better decisions, automate processes, and analyze data. The blockchain technology behind Web3 is also advancing quickly, with developers creating new ways to store, transact, and secure data.

With the growth of Web3, there are also potential risks that must be considered. These include security issues such as hacking, as well as difficulties in scalability and interoperability. To mitigate these risks, organizations should develop strategies to ensure their systems remain secure and reliable.

Overall, the Web3 market is expected to experience considerable growth over the next eight years. The success of the market will depend on the continued development of AI, ML, and blockchain technology, as well as a focus on security and scalability. With the right strategies and investments, the Web3 market will continue to expand and create new opportunities for businesses and consumers alike.

• The United Kingdom’s NFT industry is expected to grow at a CAGR of 34.5% over the next 5-6 years.
• NFT spend in the UK is estimated to increase from $1,725.2 million in 2022 to $9,257.0 million by 2028.
• Factors driving this growth include increased adoption, government support and venture funding.

The Non-Fungible Token (NFT) industry in the United Kingdom is expected to witness an impressive growth in the next 5-6 years due to increased adoption, government support and venture funding. Recent reports suggest that NFT spend in the UK could reach up to $9,257 million by 2028, growing at a compound annual growth rate (CAGR) of 34.5%.

The global NFT market experienced a significant decline in 2022 due to the harsh effects of the pandemic on the overall crypto sector. Despite this, the market shows potential growth in the upcoming years due to the increased interest in digital assets and the various user groups that make use of them. The key segments that will drive the growth of the NFT industry in the UK are collectibles and art, real estate, sports, gaming, fashion & luxury, and utility.

The UK is currently leading the way in terms of NFT adoption, with the country’s digital asset market having grown significantly in the last few years. This is largely due to the government’s progressive stance towards blockchain technology and the various initiatives they have taken to encourage its growth. Moreover, venture capital firms have also been investing heavily in NFT-related startups in the UK, which is further driving the growth of the industry.

The NFT industry in the UK has already seen a considerable amount of growth in 2021, with the NFT spend value increasing by 48%. This growth is expected to continue in the upcoming years, with the market size expected to reach $9,257 million by 2028. This growth will be driven by the increased adoption of NFTs, the government support and venture funding being given to the industry, as well as the various user groups that make use of digital assets.

In conclusion, the NFT industry in the United Kingdom is expected to witness tremendous growth in the next 5-6 years. This growth will be driven by the increased adoption of NFTs, the government support and venture funding being given to the industry, and the various user groups that make use of digital assets. The market size is expected to reach up to $9,257 million by 2028, growing at a CAGR of 34.5%.